Lloydminster Mortgage Rates & Brokers

Our mortgage brokers are better than your bank.

At True North Mortgage, our Mobile Mortgage Brokers can get you the lowest rates possible to save money on your investment— while providing friendly service and flexible options to solve your mortgage needs.

We know that your mortgage needs are unique. We deal with all the accredited lenders for you, and our highly-trained mortgage specialists can pass along a volume discount for your best qualifying rate. Plus, we work with you to find the perfect mortgage fit for a stress-free experience.

Our mortgage brokers serve the Lloydminster area, and can meet with you at a time and place that works for you. We can also complete all your mortgage needs online or over the phone, in Lloydminster, in Alberta, or anywhere in Canada.

With easy-to-reach store locations, we combine our better rates with exceptional service. Don’t just take our word for it — check out our 5-star client reviews.

Visit us, call or apply online today to get your best mortgage solution.

Historic overview of the Lloydminster real estate market

With a population of over 31,000 and a small-community feel, Lloydminster enjoys many of the appealing amenities of big-city life. The Lloydminster housing market is 22% lower than the national average, making it an affordable location in Alberta to buy a home.

How are mortgages regulated in Lloydminster?

The Real Estate Act of Alberta serves to regulate mortgages for the Lloydminster area.

The Real Estate Council of Alberta (RECA) is the independent governing body that establishes, regulates and enforces mortgage regulation in Lloydminster.

These regulations work on behalf of the customer to make sure that you receive nothing but the best service from banks, lenders, and mortgage brokers.

What mortgage insurance is available in Lloydminster?

Mortgage default insurance is required if you are buying a home with less than a 20% down payment. This is a Canada-wide rule, which is often referred to as CMHC insurance, although there are other insures to choose from.

This mortgage insurance serves to protect lenders should there be an issue with repaying your mortgage. However, it also serves to offer you lower mortgage rates, and lower down-payment requirements.

Mortgage insurance is applied to the amount of your mortgage and is paid through the same monthly repayments.

Currently, there are three mortgage insurance providers in Lloydminster: the Canada Mortgage and Housing Corporation (CMHC), Sagen, and Canada Guaranty.

Historic mortgage rates

Canadian regulations have changed the way mortgages work, and the rates you can enjoy. Currently, you must qualify for your rate, which is factored by the equity in your home, and your personal credit.

See below for the historic mortgage rates in Lloydminster:

Five-Year Variable Rate

2019 - 2.71%

2018 - 2.32%

2017 - 1.95%

2016 - 2.03%

Five-Year Fixed Rate

2019 - 2.81%

2018 - 3.15%

2017 - 2.59%

2016 - 2.25%

How we work with our clients and lenders

At True North Mortgage, our highly-experienced mortgage brokers do all the haggling for you, checking with accredited lenders to find your best rate and mortgage fit, at no obligation to you.

Our relationships with lenders, and the volume we do, means that we can pass along a volume discount. Plus, we know the markets and regulations inside and out, and have the experience and tools to quickly help you determine what you can afford to make house hunting more productive.

We're here to help you through the mortgage process from beginning to end — while saving thousands on your investment.

Contact us today.

Lloydminster Mortgage Rates

Mortgage Rates are different across Canada. Rates are shown based on your location. If you're planning to purchase out-of-province, be sure to choose rates where the property will be located.

Canada Wide Mortgages

True North Mortgage can efficiently complete your mortgage anywhere you are in Canada — online, over the phone or at our store locations.