Our Lending Partners
Access to 30+ lenders means we shop for the best rate for you
When you go directly to a bank, you see only that bank's products and rates. When you work with a mortgage broker, you gain access to dozens of lenders competing for your business. As a broker with DLC AIMI Collective Royal Charter Mortgages, Ajay has access to Canada's largest lending network—over 30 banks, monoline lenders, credit unions, and alternative lenders. More options means a better rate, better terms, and a mortgage that truly fits your needs.
Major Banks
Canada’s Big 6 banks, all accessible through a single application with your broker.
Monoline & A-Lenders
Specialized mortgage lenders that often offer the most competitive rates in the market.
Alternative & B-Lenders
Flexible lending solutions for borrowers who may not fit traditional bank guidelines.
Credit Unions
Member-owned institutions with competitive rates and a community-first approach.
What Affects Your Mortgage Rate
Several factors determine the rate a lender will offer you. Understanding them helps you negotiate from a position of strength.
Credit Score
Lenders reserve their most competitive rates for borrowers with strong credit histories, typically scores above 680.
Down Payment / Equity
A larger down payment or higher equity position reduces lender risk and may qualify you for a more favourable rate.
Amortization Period
Shorter amortizations (e.g. 25 years vs. 30 years) often come with lower rates because the lender recovers capital faster.
Property Type
Standard residential properties typically qualify for better rates than rental properties, vacant land, or mixed-use buildings.
Rate Hold Period
Locking in a rate early (up to 120 days before closing) can protect you if rates rise, but may be slightly higher than today’s spot rate.
Mortgage Type
Insured mortgages (under 20% down) generally receive lower rates than conventional or uninsurable mortgages due to CMHC insurance protecting the lender.
Fixed vs Variable Rate Mortgages
Fixed Rate
Your rate and payment stay the same for the entire term. Fixed rates are tied to Government of Canada bond yields.
Pros
- Payment certainty and budgeting ease
- Protection from rate increases
- Ideal for risk-averse borrowers
Cons
- Typically higher initial rate than variable
- Early termination penalty based on IRD (can be significant)
- No benefit if rates decline during the term
Variable Rate
Your rate fluctuates with the lender's prime rate, which is influenced by the Bank of Canada's overnight lending rate.
Pros
- Historically lower cost over time
- Lower penalty to break (typically 3 months interest only)
- Benefit immediately when rates drop
Cons
- Payment uncertainty if rates rise
- Can be stressful during rate-hike cycles
- Trigger rate risk on fixed-payment variable mortgages
Insured vs Insurable vs Uninsurable
Insured
Down payment is less than 20%. CMHC, Sagen, or Canada Guaranty insurance is required and the premium is added to the mortgage.
Rate impact: Insured mortgages typically receive the most competitive rates because the lender's risk is covered by the insurer.
Insurable
Down payment is 20% or more, purchase price is under $1M, and amortization is 25 years or less. The lender may purchase insurance on the back end at their own cost.
Rate impact: Rates are slightly higher than insured mortgages but still very competitive.
Uninsurable
Refinances, properties over $1M, or amortizations over 25 years. These mortgages cannot be insured by CMHC or private insurers.
Rate impact: Rates are higher because the lender bears all the risk. The premium is typically 0.10%–0.30% above insured rates.
Frequently Asked Questions
A mortgage broker has access to 30+ lenders, including major banks, monoline lenders, credit unions, and alternative lenders. Instead of being limited to one bank’s products and rates, a broker shops the entire market on your behalf to find the best rate and terms for your situation. Best of all, the broker’s service is typically free to the borrower—lenders pay the broker’s fee.
Mortgage rates can change daily based on bond market movements, Bank of Canada announcements, and lender competition. Fixed rates are influenced by government bond yields, while variable rates move with the prime rate. Ajay monitors rates every day and can notify you when favourable rates become available.
Posted rates are the rates banks advertise publicly—they are rarely the rate you will actually pay. Discounted rates, sometimes called special or broker rates, are the negotiated rates available through mortgage brokers like Ajay. The difference can be significant—0.50% to 1.50% or more.
This depends on your risk tolerance, financial flexibility, and the current rate environment. Fixed rates offer payment certainty for the entire term. Variable rates may save you money over time but come with the possibility of payment increases. Ajay can walk you through a detailed comparison based on your personal situation.
Most lenders allow you to convert a variable-rate mortgage to a fixed rate at any time without penalty. However, the fixed rate offered will be the lender’s current rate for the remaining term, which may not be the most competitive option. It’s worth discussing timing and alternatives with a broker before converting.
Your actual rate depends on factors such as your credit profile, property type, loan-to-value ratio, and whether the mortgage is insured, insurable, or uninsurable. Contact Ajay for a personalized rate quote that reflects your specific situation.
Get Your Personalized Rate
Every borrower is unique. Contact Ajay for a rate quote tailored to your financial profile and goals.