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.
First National Mortgage Rates
First National stands tall as a premier financial institution in Canada, not as a traditional bank but as a dedicated mortgage lender. They've crafted a suite of mortgage options, both fixed and variable, tailored to a variety of homeowners and potential buyers. Whether you're stepping into the housing market for the first time or thinking of refinancing, First National has got a mortgage plan that's likely a good fit for you.
The Importance of Shopping Around for Rates
Why Comparisons Matter
Your mortgage's interest rate is a biggie. It plays a huge role in how much you'll pay over the whole loan period. Even a tiny rate tweak can mean more money in your pocket (or not). So, it's a smart move to check out rates from different places, including First National and other direct lenders like Pine.
Financial Institutions vs. Direct Lenders
Big names like First National have a lot to offer when it comes to mortgages. They've got options and a name people trust. But sometimes, direct lenders like Pine might have better mortgage rates because mortgages are their main game. So, it's worth checking out all your choices.
First National's Fixed-Rate Mortgages: Keeping Things Steady
With First National's fixed-rate mortgages, your rate stays the same, making budgeting a breeze. It's a top pick for folks who like to know exactly what's coming up, especially when rates might go up.
Pick Your Term
First National offers a bunch of term options for their fixed-rate mortgages, from short ones to longer ones. This means you can find something that fits just right, whether you're thinking of staying put or might move in a few years.
Variable rates can be a good deal, but they're a bit of a balancing act. Such fluctuations might not align with all financial blueprints, especially for those with structured financial commitments, such as regular RRSP contributions.
First National's 5-Year Fixed Mortgage Rate: The Middle Ground Choice
Why Opt for 5 Years?
Among Canadians, the 5-year term holds a special place. It strikes a neat balance between a stable rate and not being tied down for too long. Most Canadians find solace in this 5-year window, especially given the attractive rates it often comes with.
Steady Rates, Steady Mind
With First National's 5-year fixed mortgage, there's no second-guessing. Your rate is set in stone for the term, ensuring your payments are the same month after month. It's like having a financial crystal ball for the next five years.
How Do Their Rates Stack Up?
First National brings some compelling rates to the table for their 5-year fixed mortgages. But it's always smart to peek around the corner. Sometimes, lenders like Pine might have a better deal, especially since they operate lean, without the trappings of traditional financial institutions.
First National's 5-Year Variable Mortgage Rate: For Those Who Like a Little Adventure
The Lure of Immediate Savings
Starting off, the 5-year variable rate often sits below its fixed counterpart. This means you might see some instant savings. But remember, with a variable rate, there's always a bit of a dance with the market.
Keeping an Eye on the Market
If you're leaning towards this, remember that rates can swing with market moods. Sometimes, even if your monthly payment stays put, more of it might go towards interest and less towards your home's principal. It's a bit of a juggling act.
One of the cool things about First National is their flexibility. If you start feeling the market's ups and downs a bit too much, they let you switch over to a fixed rate during your term. But remember, the rates they offer might not always be the absolute lowest out there.
Weighing the Pros and Cons
Variable rates can be a bit of a roller coaster. While on paper it might appear as a well-thought-out decision, living through the reality of fluctuating mortgage payments can be a different experience altogether.
Decoding Mortgage Rates in Canada
What Are Mortgage Rates?
Think of mortgage rates as the price tag for borrowing to snag that dream home. Over time, you'll pay back the amount you borrowed, called the principal, plus a little extra called interest. Most folks in Canada do this dance over a 25-year period, with a 5-year term being a common choice.
Types of Mortgage Rates
In the Canadian scene, you'll mostly bump into two rate types: fixed and variable. Fixed rates? Well, they don't budge. Variable rates, on the other hand, move to the market's beat, which means your payments might do a little dance of their own.
If you're looking to borrow in Canada, there's a hurdle you might have to jump: the mortgage stress test. It's a way for lenders to check if you can handle your payments if rates were to climb a bit. It's like a safety net, making sure you're ready for whatever the market throws your way.
By getting a grip on these basics, you'll be in a good spot to make sense of mortgages in Canada, whether you're eyeing a big name like First National or a streamlined lender like Pine.