Buying a home starts with the right mortgage.
At Northern, your mortgage comes with:
Rates that don't make you spiral.
Clear, flexible terms that make sense.
Payment options that fit your budget.
Featured rates
5-year closed high ratio
4.39
5-year closed conventional
4.69
3-year closed high ratio
4.29
3-year closed conventional
4.59
Book now to lock in your rate.
Mortgages for the first time homebuyer.
Conventional mortgage.
The right option if you've saved a 20% down payment or more.
High-ratio mortgage.
Lets you get a mortgage with as little as 5% down and built-in mortgage insurance.
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Construction mortgage.
For those looking to build or renovate your new home.
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How much home can you afford?
Use the calculator to estimate your payments, then book an appointment with a mortgage expert to get personalized guidance.
Current Rates
| CURRENT MORTGAGE RATES
Rates Effective: 2026-05-13 |
Rate |
|---|---|
| 6 Month Open |
8.50
|
| 1-Year Open |
8.99
|
| 1-Year Closed |
5.39
|
| 2-Year Closed |
5.49
|
| 3-Year Closed |
5.69
|
| 4-Year Closed |
5.79
|
| 5-Year Closed |
5.89
|
| MORTGAGE SPECIALS | Rate |
|---|---|
| 5-Year Closed High Ratio |
4.39
|
| 5-Year Closed Conventional |
4.69
|
| 3 Year Closed High Ratio |
4.29
|
| 3 Year Closed Conventional |
4.59
|
| VARIABLE MORTGAGES | Rate |
|---|---|
| 5-Year Open |
6.45
|
| HOME EQUITY LINES OF CREDIT | Rate |
|---|---|
| Meritline |
4.95
|
Mortgage Calculator
Your homebuying journey starts here.
For most of us, buying a home is the most important and significant investment we’ll ever make. Our homebuyers’ guide will walk you through every step of the process—from finding out what you can afford and budgeting for your future home, to stepping through the front door for the very first time.
Download the homebuying guide
Download the homebuying checklist
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Cash back offer.
Get up to $25,000* Cash Back on a Northern mortgage to upgrade your space, save on moving expenses, pay for post-secondary education, and more.
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Don't worry about transfer fees.
Already have a mortgage somewhere else? We make the switch to Northern easy and worthwhile, by paying up to $1,250** in transfer fees.
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Purchase + Improvements
With a Purchase Plus Improvements Mortgage, you can start your custom home improvements the day you get your keys and roll the costs right into your mortgage payment. Just like a traditional mortgage, put only 5% down from personal savings, RRSP contributions, existing home equity, or other conventional sources. Offering 3–5-year terms at a competitive rate, tailor your Purchase Plus Improvements Mortgage to suit your needs.
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Advice & resources for your mortgage journey.
Buying your first home?
Discover tools, resources and advice that’ll help you when you’re buying your very first home.
Buying a new home?
Whether you’re moving, buying an investment property or a camp by the lake, we’re here for you with tools, resources and homebuying advice you can trust.
Renewing your mortgage?
Take advantage of our great rates and expert mortgage advice. Plus, if you switch to Northern, we’ll cover up to $1,250 of your mortgage transfer fees.
*Terms and conditions apply, offer subject to change at any time. Please contact us for more information.
*Cash back cannot be used as a down payment for new purchases. Available on Fixed Closed 3-5 Year Term Mortgages only. The maximum cash back amount is $25,000 based on the full mortgage amount, including high ratio premium.
**Switch to Northern and get up to $1,250 on Mortgages $100,000 or more.
