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Our BetterRate ®
mortgage rates

Found the right home for you? Our BetterRate ® mortgages could help you save on interest, so you can spend less on your mortgage and enjoy the other important things in life.

Flexible terms and rates

 

No matter what mortgage term works best for you, the interest you could save with our BetterRate ® mortgages can really add up.

 

Selected Term Rate 1

Starting from
Fixed
High-Ratio Insured 2 		5 Year 5.09%
Fixed
High-Ratio Insured 		4 Year 5.39%
Fixed
High-Ratio Insured 		3 Year 5.69%
Variable
High-Ratio Insured 		3 Year 6.30%
Fixed
High-Ratio Insured 		2 Year 6.34%
Posted rates

See how much you can save when compared with our posted rates.

QuestMortgage Prime Rate is 7.20% as of July 13.

 

Discover the great, low rate you can get

Get my rate
free_up_cash

Or, get up to $5,000 cash back

Get a cash bonus (attached to a Cash Back rate) on your 5-year fixed or variable-rate mortgage, to help pay for moving fees and other expenses that come with owning a home. Plus, it can also help you invest in the things that matter most to you.

Conditions apply.

Learn more

Fixed-Rate

  • Your rate won't change throughout the lifespan of the mortgage term
  • Ease and stability make it the most popular mortgage type
  • Enjoy prepayment privileges of up to 20%

Variable-Rate

  • Your rate and payments will fluctuate based on the QuestMortgage prime rate
  • If the prime rate falls, it can help you save over the term of your mortgage
  • Enjoy prepayment privileges of up to 20%

Ready for the next step in your homeownership journey?

Whether you’re looking to purchase your very own home, switch, or refinance - don’t miss on real savings with QuestMortgage. Discover how much you can save with our BetterRate ® mortgages.

Pay off your
mortgage sooner

Best prepayment privileges

  • Make additional lump sum payments (up to 20% of the original balance at the start of your term, per anniversary year).
  • Increase your mortgage payments at any time (up to 100% of the original monthly payment).
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Call us to learn how much you could save

Our Mortgage advisors will have a conversation on your unique mortgage situation to make sure you are getting a mortgage that works best for you. Give us a call to see how much you could save with QuestMortgage. Because with a purchase this big, you want to make the right decision.

1.888.909.5588

Resources to guide your homeownership journey

Find the information you need to confidently navigate the mortgage world.

Couple using a tablet

Bank of Canada prime rate: What you need to know

Learn about the Bank of Canada’s prime rate and what it means for you.

Read now
Couple using laptop

Fixed vs. variable mortgage: what’s the difference?

Understand each mortgage type and learn how to choose the best one for you.

Read now
Father playing with children

What should you do when your mortgage is up for renewal?

Understand the important things about renewing or switching your mortgage.

Read now

Get expert advice when you need it

We’re here to help.

Reach out to us whichever way you’re most comfortable with and a team member will be happy to help.

Frequently asked questions

  • What is the home buyers' plan?

    The Canadian Government’s Home Buyers' Plan (HBP) allows first-time home buyers to borrow up to $35,000 from their RRSP for a down payment, tax-free.

  • What is the difference between an open and closed mortgage?

    With a closed mortgage, you will receive a lower interest rate (compared to an open mortgage), but there is a maximum annual amount you can pay towards your mortgage balance without penalty.

  • What is the mortgage stress test?

    The mortgage stress test requires financial institutions to make sure a borrower can still make mortgage payments if interest rates increase.

  • What is the difference between a mortgage amortization period and mortgage term?

    Your mortgage amortization is the length of time until your mortgage is fully repaid, typically ranging from 25-30 years. Your mortgage will have a set term. The term is the length of time you are committing to your mortgage agreement.

  • What is mortgage refinance?

    A mortgage refinance refers to ending your current mortgage and replacing it with a new one. When you refinance, you can gain access to the equity in your home by adding to the size of your mortgage or lengthening the amortization period of your mortgage.

  • What is creditor insurance?

    Creditor insurance protects you and your family. It's used to pay out a mortgage balance or cover your mortgage payments on your behalf if something unexpected happens.

See All

 

1 The rate(s) shown here are for high ratio insured mortgages and these are only available for customers purchasing an owner occupied residential property valued at under $1,000,000 with less than 20% down payment, and who are eligible for mortgage default insurance. For high ratio insured mortgages the Annual Percentage Rate (APR) and the annual interest rate are the same and the standard property valuation fee is waived.

Annual Percentage Rate (APR) is the cost of borrowing expressed as an annual rate, where the cost of borrowing includes all interest and applicable fees such as service charges, legal fees, administrative fees, and appraisal fees (where applicable). If there are no non-interest charges, the annual interest rate and APR will be the same.

2 The label ‘Popular’ informs you which option was most selected in the previous quarter by other QuestMortgage clients who signed a commitment (new quarters begin the first day of January, April, July, and October). This is not meant as advice or a recommendation. You should choose the mortgage that is appropriate for your own personal circumstances.