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.
Simplii Financial Mortgage Rates
Simplii Financial shines brightly in Canada's financial scene, not as a conventional bank, but as a specialized mortgage provider. With a diverse range of mortgage solutions, both fixed and variable, they cater to seasoned homeowners and first-time buyers alike. If you're diving into the property market or pondering a refinance, Simplii Financial likely has a mortgage blueprint tailored for you.
The Smartness of Rate Shopping
Why Looking Around Pays Off
The rate on your mortgage? It's a big deal. It decides how much you'll shell out over the entire loan's life. A tiny shift in rates can make a noticeable difference in your expenses. So, it's wise to peek at what's on offer from various lenders, including giants like Simplii Financial and other direct lenders such as Pine.
Direct Lenders vs. Financial Institutions
While Simplii Financial brings a lot to the mortgage table, sometimes, direct lenders, like Pine, might edge them out on rates. Why? Because mortgages are their main gig. So, it's a good idea to explore every avenue.
Simplii Financial's Fixed-Rate Mortgages: The Steady Choice
Opting for Simplii Financial's fixed-rate means your payments stay the same, making it easier to plan your finances. It's a favorite for those who prefer stability, especially in uncertain rate environments.
Choose Your Duration
Simplii Financial dishes out a variety of term lengths for their fixed-rate mortgages. Whether you're in for the long haul or just a short stint, they've got you covered.
While Simplii Financial offers competitive rates, it's smart to see how they measure up against others, like Pine. A quick online comparison can give you the bigger picture.
Simplii Financial offers the perk of locking in a rate for a set period, often a few months. This means you can house-hunt without any rate jitters.
Simplii Financial's Variable-Rate Mortgages: For Those Who Bend with the Wind
With Simplii Financial's variable-rate mortgages, your rate might wiggle a bit based on market vibes. This can be a win when rates are friendly, but remember, they can also climb.
A Lower Start
Variable rates often kick off a tad lower than their fixed counterparts. This could mean early savings, especially if you're betting on rates staying chill or even dipping.
The Switch Option
A neat feature with Simplii Financial is the option to flip from a variable to a fixed rate if you feel like it. It's a cushion for those "just in case" moments when the market feels a bit too bumpy.
While variable rates can be tempting, they come with their dance. It's essential to gauge if you're up for the occasional rate tango, especially if you have other fixed financial commitments.
Simplii Financial's 5-Year Fixed Mortgage Rate: The Sweet Spot Choice
Why 5 Years Makes Sense
For many Canadians, the 5-year term is like the Goldilocks of mortgage options: not too short, not too long, just right. It's a timeframe that offers a comforting blend of rate security and flexibility. Plus, it often comes with some of the most appealing rates around.
Predictability in Payments
With Simplii Financial's 5-year fixed mortgage, you're in for no surprises. Your rate stays put for the entire term, meaning your monthly payments are consistent. Imagine having a clear financial roadmap for the next half-decade.
How Competitive is Simplii?
Simplii Financial certainly has some enticing rates for their 5-year fixed mortgages. But a quick glance around might be worthwhile. Direct lenders, like Pine, sometimes have an edge, mainly because they're laser-focused on mortgages without the overhead of bigger institutions.
Simplii Financial's 5-Year Variable Mortgage Rate: For the Bold and the Brave
The Attraction of Upfront Savings
The 5-year variable rate often kicks off on a lower note than its fixed sibling. This could mean immediate savings in your pocket. But, with the variable tag, there's a dance with market trends.
Market Dynamics Matter
If you're tilting towards this, keep in mind that rates can sway with market winds. There might be times when a larger chunk of your payment goes towards interest rather than reducing your home's principal. It's a balancing act, for sure.
Mid-Term Rate Switch? No Problem!
A standout feature with Simplii Financial is adaptability. If the market's waves feel too choppy, they offer the option to switch to a fixed rate during your term. But, a heads-up: the switch might not always fetch the rock-bottom rates.
Balancing Benefits and Bumps
Variable rates can be thrilling but also throw curveballs. While they might seem savvy on paper, experiencing fluctuating payments is a different ball game.
Unravelling Mortgage Rates in Canada
The Lowdown on Mortgage Rates
Mortgage rates are essentially the "rent" you pay for borrowing to buy your home. Over the journey, you'll repay the borrowed amount, known as the principal, with a bit extra, known as interest. The Canadian norm? Spreading this out over 25 years, with many opting for a 5-year term.
The Two Rate Flavors
In Canada, you'll typically encounter two rate varieties: fixed and variable. Fixed rates stay, well, fixed. Variable rates, however, groove with the market, making your payments a tad dynamic.
Eyeing a mortgage in Canada? There's a test you might need to ace: the mortgage stress test. It's a way lenders ensure you can manage your payments, even if rates inch up. Think of it as a financial fitness check.
By wrapping your head around these fundamentals, you'll be well-equipped to traverse Canada's mortgage terrain, be it with a household name like Simplii Financial or a nimble lender like Pine.