KEEPING YOU INFORMED: COVID-19 information for residential customers & commercial borrowers
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Our residential call centre is experiencing higher than normal wait times.

If you are a residential customer experiencing financial hardship due to COVID-19 and need to request a mortgage payment assistance, please submit a payment assistance request through My Mortgage.

If you are a commercial borrower experiencing financial hardship due to COVID-19, please email our Payments team at commercial.payments@firstnational.ca.

Be assured that we are committed to getting back to all of you who have contacted us.

Your patience is appreciated, and we thank you for your understanding.

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Mortgage Rates

Our rates for qualified residential mortgages

When you’re buying your dream home, what you pay for your mortgage is a key consideration. But there are other vital priorities as well. Making mortgage decisions based on rate alone doesn’t always deliver value in the long run. At First National, we want to help you secure a competitive mortgage and provide value along the way — simplified management, ongoing education, accessible expertise – so you can own your dream home and achieve your financial goals.

Rates effective as of Thursday, November 26, 2020 for qualified residential properties.

Posted Rates

Fixed rate mortgages – closed terms

1 year 2 year 3 year 4 year 5 year 7 year 10 year
Insured 1.74 1.74 1.74 1.74 1.84 2.74 2.95
Insurable up to 65% LTV 1.74 1.74 1.74 1.74 1.84 N/A N/A
Insurable > 65% - 70% LTV 1.79 1.79 1.79 1.79 1.89 N/A N/A
Insurable > 70% - 75% LTV 1.94 1.94 1.94 1.94 2.04 N/A N/A
Insurable > 75% - 80% LTV 1.94 1.94 1.94 1.94 2.04 N/A N/A
Conventional 2.54 2.29 2.14 2.09 2.04 2.74 2.95

Adjustable rate mortgages

5 year
Insured Prime - 0.70% for the entire term
Insurable up to 65% LTV Prime - 0.70% for the entire term
Insurable > 65% - 70% LTV Prime - 0.60% for the entire term
Insurable > 70% - 75% LTV Prime - 0.55% for the entire term
Insurable > 75% - 80% LTV Prime - 0.55% for the entire term
Conventional Prime - 0.55% for the entire term
First National Prime Rate: 2.45

Open term mortgage

6 month fixed term 7.30

Not familiar with these mortgage terms? Visit our glossary here.

Rates are for single-family residential mortgages.

Actual rates may vary. Please contact First National at 416.593.1100 or toll-free at 1.888.670.2111 or email a Mortgage Specialist for further information.

Rates are subject to change without notice.
E. & O. E.

How much can I afford?
 

Estimate your potential mortgage amount for a realistic picture of what you can afford when buying your dream home.

Mortgage payment calculator

Get a better idea of your monthly mortgage costs by estimating your potential payments.

Mortgage videos
 

Learn about key mortgage concepts in a simple and clear way so you can make decisions and manage your mortgage with confidence.

Working with a Mortgage Broker

Take the stress out of the mortgage process by relying on a credible professional who can provide trusted advice about mortgage rates, options and advantages.

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