SHORT-TERM SPECIAL MORTGAGE

Rate Relief 1-Year Insured

Temporary relief from interest-rate pain.

Take a full year of lower payments while getting settled into your new place and mortgage. Go ahead, sleep easier with blinds on your windows.

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RR 1 Year

4.99%*

Lowest Mortgage Rate in Canada

For insured and insurable mortgages. Conditions apply.

1-Year Fixed 

Short-Term Product

Comes with full features, lock into a longer term anytime.

Budget Relief

Offset New Home Costs

Get ahead of moving-related and home-owning expenses.

Save with Rate Relief

Is Rate Relief™ right for you?

Need a budget break for a whole year? Or want to make use of lower payments while you consider which long-term mortgage to lock into? Here are some qualifying details to help you decide if this product is right for you:

  • For new purchases and switches only (no pre-approvals)
  • Insured and insurable mortgages 
  • Your home value is below $1M*, or your original mortgage default insurance is still valid (through CMHC, Canada Guaranty or Sagen)
  • Your mortgage loan has a balance of at least $100K and an amortization of 25 years** or less
  • Read our Rate Relief 1-year mortgage commitment letter for more details

Effective December 15, 2024, *the insured home value cap moves to $1.5M, and **30-year amortizations are available for eligible first-time and new-build buyers.

Important product information

Here for a limited time. This product is only available through a True North Mortgage broker and comes with a 120-day rate hold — call or apply online.

  • On standard switches, THINK pays the legal fees (assignment costs)
  • At the end of your 1-year term:
    • Renew into a standard mortgage ('The Works' Fixed or Variable) with THINK Financial without penalty
    • You'll renew into current mortgage rates that are typically higher than this low-rate product offer**
  • THINK is known for offering some of the lowest mortgage rates; your rate offered at renewal may carry an added premium
  • If you choose not to renew with THINK Financial, a 1.5% non-renewal fee will apply based on your current mortgage balance (this non-renewal fee ONLY applies to this special mortgage product and not our standard mortgage offerings).

Lending terms and conditions apply.

*Offer available for new high-ratio insured and insurable mortgages, including those transferred from another financial institution. The mortgage must fund within 120 days of the loan application date. Tell your broker about your current mortgage details, as it may impact your application.

**Please note: Interest rates are unpredictable and your mortgage rate at renewal could be significantly higher than the rate you are paying with your 1-year Rate Relief™ product. 

For example, a $425,000 insured mortgage with a lower interest rate of 4.99% for our 1-year product will require a $2,469 monthly payment, whereas the same mortgage with a market interest rate of 5.25% for a 5-year product will require a $2,532 monthly payment.