Proof that our rates are lower.
Comparison charts can be boring. This one isn't — especially if you want to save on your mortgage.
Because it shows that our rates really are better. And we couldn't be prouder of the striking results.
Want proof that our rates are lower?
Well, here's the proof of the (mortgage) pudding. Recently, one of Canada's three large mortgage insurers shared rates-data with us on completed mortgages. The data allows us to see exactly how we stack up against the competition.
We couldn't be prouder of the striking results. On average, our rates are 0.15% below the competition. On a $300,000 mortgage, that means you save $450 per year (after-tax).
That savings can really add up over the life of your mortgage.
These numbers are a direct comparison between True North Mortgage/THINK Financial and the rest of the market. THINK Financial is our exclusive lending arm, established in 2016 to allow us to offer even lower rates for our clients. The majority of our deals are now funded by THINK — and the only way to get a THINK Mortgage is through us.
With the federal government adjusting the mortgage rules in 2016, rates now need to be tailored to each situation. Factors like credit score, property price and downpayment ratio can impact your final rate qualification. Because of these additional factors, it's harder for home buyers to look at posted rates and understand if they compare apples-to-apples for their situation.
We were always confident that THINK rates are better, but it's nice to have the third party evidence to back it up.
2018 Q3 |
2018 Q4 |
2019 Q1 |
2019 Q2 |
2019 Q3 |
|
True North |
3.27% |
3.44% |
3.32% |
2.84% |
2.57% |
Everyone Else |
3.47% |
3.59% |
3.38% |
2.99% |
2.77% |
| Our difference | 0.20% |
0.15% |
0.07% |
0.15% |
0.20% |
5 Year
-
Variable
Term from
1.19%
Apply for your Best Rate in minutes.
Everyone's rate is unique. What's yours?
It's our job to get your lowest possible rate. Your rate qualification depends on certain factors, such as credit score and home equity, as per Canadian regulations. Get your details fast — there's no cost and no obligation.
Get Your Best Rate
Mortgage
Size
Size
Term
Rates From
Payments as low as
1 Year
Fixed
1.79%
$1678
/mo
2 Year
Fixed
1.49%
$1678
/mo
3 Year
Fixed
1.49%
$1678
/mo
4 Year
Fixed
1.69%
$1678
/mo
5 Year
Fixed
1.79%
$1678
/mo
5 Year
Variable
1.19%
$1678
/mo
HELOC
Open
2.95%
$1678
/mo
Illustration purposes only. Use our Easy Mortgage Calculator for a better look.
-
If you don’t meet the requirements of our lowest advertised rate, we still have you covered with more low rate options! The above range represents realistic rates if you don’t meet the outlined criteria. Factors like equity in your home, credit rating, and other variables will impact your final rate. At True North Mortgage, we're committed to providing your possible best rate that fits your situation.
Additional premiums may apply to rentals, extended amortizations, non-standard properties and alternative lending options.
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