We offer the most competitive rates in the country to our clients and are committed to working with you to get you the lowest rate possible.
Peace of mind from rate hikes
Upon approval you will receive a 120 day rate lock, but it doesn’t stop there. We also proactively ensure you get the lowest possible rate that we can offer you within that time period if rates drop.
Our team of experienced mortgage experts will work closely with our clients to conduct a discovery call and understand their unique financial situation. This allows us to tailor a mortgage solution that meets our client’s needs and goals.
We pride ourselves on providing a seamless and efficient mortgage process all completed in the comfort of your home online, ensuring an easy and convenient experience for all our clients.
How it works
Just click on 'Get started' located at the top right of our webpage to launch your application. With an easy-to-use online platform, you can start your home financing journey in less than 10 minutes.
Safely upload your identification and relevant supporting documents via our secure customer portal. This helps us understand your financial capabilities and tailor the best solutions for you.
Get ready to make your housing dreams come true. Our skilled mortgage advisors will guide you through the optimal choices tailored to your specific financing requirements.
Congratulations, you've reached the final step of the mortgage process! This is where all the remaining paperwork gets signed and your mortgage funds are released.
For more detailed insights, our blog section is a treasure trove of resources. You'll find articles on everything from understanding mortgage terminology to tips on saving for a down payment and market updates. The more you know, the better prepared you'll be when it comes to making the big decision of buying or refinancing a home.
Alterna Savings Mortgage Rates
Alterna Savings shines as a distinguished financial entity in Canada. While it's not your conventional bank, it's a powerhouse when it comes to mortgage lending. They've meticulously designed a range of mortgage solutions, both fixed and variable, to cater to diverse homeowners and aspiring buyers. Whether you're dipping your toes into the property market or mulling over a refinance, Alterna Savings promises a mortgage blueprint tailored just for you.
The Wisdom of Rate Exploration
The Power of Comparison
The interest rate on your mortgage isn't just a number. It's pivotal in determining the overall cost over the loan's lifespan. A slight rate shift can translate to significant savings (or costs). Hence, it's a savvy strategy to explore rates from various sources, Alterna Savings being a prime contender, and not forgetting direct lenders like Pine.
Traditional Lenders vs. Digital Lenders
Household names like Alterna Savings bring a lot to the mortgage table. They offer a plethora of choices and a brand that resonates with trust. However, occasionally, mortgage-centric entities like Pine might edge them out with even more competitive rates, given their laser focus on home loans. So, casting a wide net in your search is a prudent move.
Alterna Savings' Fixed-Rate Mortgages: The Anchor of Stability
Opting for Alterna Savings' fixed-rate mortgages means embracing consistency. Your rate remains unchanged, simplifying your financial planning. It's a preferred choice for those who appreciate predictability, especially in an unpredictable rate environment.
Choose Your Duration
Alterna Savings presents an array of term lengths for their fixed-rate mortgages, from shorter stints to extended commitments. This flexibility ensures there's something that aligns perfectly with your future plans, be it settling down or potential relocations.
While Alterna Savings boasts competitive rates, it's wise to see how they fare against others, like Pine. A quick online comparison can shed light on this.
Secure Your Rate
Alterna Savings offers the convenience of securing a rate for a certain period, often a couple of months, granting you peace of mind as you hunt for your dream home.
Alterna Savings' Variable-Rate Mortgages: For the Adventurous at Heart
The Rate Rollercoaster
Embracing Alterna Savings' variable-rate mortgages means being open to market whims. While it can be rewarding when rates are friendly, it's essential to remember they can also climb.
A Promising Beginning
Variable rates typically start on a more attractive note than their fixed counterparts. This could spell initial savings, particularly if you're optimistic about rate trends.
Flexibility in Choice
A standout feature with Alterna Savings is their adaptability. If you ever feel the need for more stability, they offer the option to transition from a variable to a fixed rate. It's a cushion against market unpredictability.
While variable rates might seem enticing, they come with their set of oscillations. Such rate dynamics might not resonate with everyone, especially those with fixed financial obligations, like consistent RRSP contributions.
Alterna Savings' 5-Year Fixed Mortgage Rate: The Sweet Spot Choice
Why 5 Years?
For many Canadians, the 5-year term is a favourite. It offers a harmonious blend of rate security and flexibility. A significant number of Canadians gravitate towards this 5-year span, lured by the often-enticing rates it presents.
Consistency is Key
With Alterna Savings' 5-year fixed mortgage, uncertainty takes a backseat. Your rate remains unwavering for the duration, guaranteeing identical payments every month. It's akin to having a financial compass for the forthcoming five years.
Rate Check: How Does Alterna Fare?
Alterna Savings certainly has some appealing rates for their 5-year fixed mortgages. However, it's always a good idea to broaden your horizon. Direct lenders like Pine, with their streamlined operations, might sometimes offer a more tempting proposition.
Alterna Savings' 5-Year Variable Mortgage Rate: For the Bold and Brave
The Attraction of Immediate Benefits
The 5-year variable rate typically starts a notch below the fixed one. This could translate to immediate monetary benefits. But, with variable rates, there's a tango with the market's temperament.
If this is your pick, bear in mind that rates can oscillate with market sentiments. At times, even if your monthly outflow remains constant, a larger chunk might cater to interest rather than building your home's equity. It's a delicate balancing act.
The Flexibility to Pivot
A standout trait of Alterna Savings is their adaptability. If market gyrations start affecting your peace of mind, they offer the option to transition to a fixed rate within your term. However, it's worth noting that the rates on offer might not always be the cream of the crop.
Assessing the Ups and Downs
Variable rates can be akin to a thrilling ride. While it might seem like a calculated choice on paper, navigating the real-world ups and downs of fluctuating payments can be an entirely different ball game.
Demystifying Mortgage Rates in Canada
Mortgage Rates Unveiled
Consider mortgage rates as the ticket price for borrowing to secure your dream abode. Over the journey, you'll repay the borrowed sum, known as the principal, with a bit of added interest. The Canadian norm is to tread this path over 25 years, with the 5-year term emerging as a popular pitstop.
The Mortgage Rate Spectrum
In the Canadian milieu, you'll predominantly encounter two rate flavours: fixed and variable. Fixed rates remain steadfast. Variable rates, conversely, sway with the market's rhythm, potentially making your payments groove along.
For prospective borrowers in Canada, there's a potential checkpoint: the mortgage stress test. It's a tool for lenders to gauge if you're equipped to manage payments should rates ascend. Think of it as a protective shield, ensuring you're fortified for any market surprises.