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We all recognize the ‘Big 5’ banks in Canada, and while this may be a good option for some, it is a costly mistake for many. When choosing your mortgage, there are many options from our lenders.



Canadian Banks

The Big 5 banks in Canada are well-known for their brick-and-mortar branches. However, this brand recognition comes at a price – their mortgages are some of the most restrictive in the market, and they have been criticized for lack of transparency.

Borrowers should focus on interest rates and other factors like prepayments and penalties when shopping for a mortgage.

Banks typically have the harshest mortgage penalties, so borrowers should know this when considering a loan from one of these institutions.


Mortgage Specific Lenders

These are lenders who specialize in mortgages. They are not in the business of taking deposits, investments, credit cards etc. As a result, they have low overhead and pass those savings to you with lower mortgage rates and more favourable terms and conditions.

Other incentives that draw borrowers in are their flexible prepayment privileges, low penalties, and property tax inclusion, to name a few.


Provincial Lending

Credit unions are often local lenders who cater to the demands of their community. These are provincially regulated, and each operates independently. Lending outside the federal guidelines has its advantages, but they come with a premium.


Working Together

In addition to Canada’s top lenders, our trusted industry partners share our vision of creating the best customer experience.


Mortgage News

Too Early For Rate Decrease: Bank Of Canada

Bank of Canada Cuts Target Interest Rate By 0.25%

The Bank of Canada’s decision to lower its key lending rate by a quarter point to 4.75% today is welcome news for many borrowers.

Although the impact of a single rate cut is limited, it signals the start

The Housing And Mortgage Market Review: Q2 2024

The Housing and Mortgage Market Review: Q2 2024

Mortgage Professionals Canada is delighted to announce our new collaboration with Oxford Economics in delivering our revamped Housing and Mortgage Market Review. This essential resource is designed to help you stay on top of the latest economic trends


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