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 | 4.84% |
Fixed High-Ratio Insured |
3 Year | 5.24% |
Fixed High-Ratio Insured |
4 Year | 5.29% |
Variable High-Ratio Insured |
3 Year | 5.55% |
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 6.45%,
effective September 5, 2024.
Discover the great, low rate you can get
Get my rateOr, 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.
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).
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.
Resources to guide your homeownership journey
Find the information you need to confidently navigate the mortgage world.
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 nowFixed vs. variable mortgage: what’s the difference?
Understand each mortgage type and learn how to choose the best one for you.
Read nowWhat should you do when your mortgage is up for renewal?
Understand the important things about renewing or switching your mortgage.
Read nowGet 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 $60,000 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.