Mortgage Rates Drop

Now, we can offer even lower rates. (hooray!)

Earlier last month (June 2016), True North Mortgage announced it has become the first-ever independent mortgage brokerage to receive Canada Mortgage and Housing Corporation (CMHC) lender approval status, and has launched THINK Financial as a result.

Now, True North Mortgage offers you even lower mortgage rates!

• 1.95% 5 Year Variable
• 2.24% 5 Year Fixed

The full list of our great rates can be found here.

With the rate drop, you'll save more on your mortgage.

Let’s break down what your monthly payments would be, for example:

• On a purchase price of $500,000, with a 5% down payment of $25,000
• CMHC insurance premium would be $17,100 (3.60%)
• For a total mortgage value of $492,100, with an amortization of 25 years

Payments based on rates offered by most Big Banks:

• 5 Year Fixed @ 2.49% = $2,201/mo
• 5 Year Variable @ 2.35% = $2,167/mo

Compared to payments based on True North Mortgage's rates:

• 5 Year Fixed @ 2.24% = $2,141/mo (you save $60/mo or $3,645 over 5 years)
• 5 Year Variable @ 1.95% = $2,071/mo (you save $95/mo or $5,754 over 5 years)

That's a lot of cash saved for your piggybank. And that's not all — you're saving on monthly payments AND on total interest paid.

When you consider both, you save approx. $6,000 on the 5 Year Fixed Rate and almost $9,500 on the 5 Year Variable Rate over 5 years!

Take advantage of our great rates to pay off your mortgage sooner and save thousands. Using True North Mortgage is literally a no-brainer.