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Great rates as low as
Quick close high-ratio insured 5-year fixed.
With many rate options available, you can get a great, low rate that suits your needs right from the start.
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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.
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Save up to thousands of dollars on your mortgage
With QuestMortgage, you’ll get a transparent, low rate right from the start.
Save on interest, so you can keep more of your money.
QuestMortgage BetterRate ®
4.99%
5 Year Fixed Rate Closed1,2
Bank Special Offer Rate
5.23%
5 Year Fixed Rate Closed2
See how much you could save with QuestMortgage3
A lower rate can turn into thousands saved in interest. Take a look at yourpotential interest savings with QuestMortgage on different mortgagebalances, over a 25-year amortization and a 5 year term.
| Mortgage Balance | Potential interest savings over a 25-year amortization | Potential interest savings over a 5-year term |
|---|---|---|
| $#MortgageBalance1# | $#PotentialMortgageSavings25yearAmortization1# | $#PotentialMortgageSavings5yearTerm1# |
| $#MortgageBalance2# | $#PotentialMortgageSavings25yearAmortization2# | $#PotentialMortgageSavings5yearTerm2# |
For illustrative purposes only.
Why QuestMortgage?
A BetterRate ® mortgage
Our line of BetterRate ® mortgages are our commitment to you that you will receive a great, low rate right from the start.
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Our team of expert Mortgage Advisors are here to help you, every step of the way.
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Resources to guide your homeownership journey
Find the information you need to confidently navigate the mortgage world.
Programs for first-time home buyers
Explore the different programs available for you as a first-time home buyer.
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Mortgage terms you need to know
Learn about mortgage terminologies and mortgage types.
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A guide to your credit score and credit report
Learn about your budget and credit before getting a home.
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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.
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* The rate shown here is only for high ratio insured mortgages and is only available for customers who meet all of the following criteria: a) they are purchasing an owner occupied residential property valued at under $1,000,000 with less than 20% down payment; b) the mortgage will be advanced to the customer on or before 45 days from the date of the mortgage application and c) the customers 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.
1The 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 'Bank Special Offer Rate' is the average of the special offer 5 year fixed rate closed mortgage interest rates of the majority of the 6 largest Canadian Schedule 1 banks by market capitalization,as advertised on their respective websites as of March 12, 2024, when available and applicable. The rates are updated weekly on Tuesdays, and when the QuestMortgage Featured Rate changes.
The 'QuestMortgage Featured Rate' is our lowest 5 year fixed rate closed mortgage interest rate available for high ratio insured mortgages only.
3 In the results presented for illustrative purposes only, we assume a $550,000 and a $320,000 QuestMortgage Featured Rate loan, each with a 4.99% APR for a high ratio insured 5 year termfixed rate closed mortgage and a 25-year amortization, as well as total interest payments of $128,457 ($550,000 mortgage loan) and $74,738 ($320,000 mortgage loan) over the 5-year term and $408,709 ($550,000 mortgage loan) and $237,794 ($320,000 mortgage loan) total interest payments at the end of the 25-year amortization. We compared this with the amount of interest the customer would have paid based on the ‘Bank Special Offer Rate’ of 5.23% to get thetotal potential interest savings to the end of the 5-year term and to the end of the amortization of 25 years. (All amounts in Canadian dollars.) For each of these examples the annual percentage rate (APR) includes all interest andnon-interest charges related to the mortgage. As there are no non-interest charges in these examples, the APR and the interest rate will be the same. Actual charges may differ. Assumes that the customer remains with QuestMortgage andall rates are held constant for the entire amortization period. This comparison is updated weekly but any savings amounts and rates shown are subject to change and may vary in the period between the updates.
