Real Estate

THINK Financial for mortgage

  • Last Updated:
  • Nov 4th, 2022 12:46 am
[OP]
Sr. Member
Mar 4, 2008
670 posts
179 upvotes
BC

THINK Financial for mortgage

Hi, has anyone used or heard of any reviews of THINK Financial? True North Mortgage seems to be associated with them? and so giving pretty good mortgage rates. It says they are CMHC-approved on their website.

Getting a good quote for a rate through them. Thoughts?

Thanks in advance!
46 replies
Deal Addict
Aug 12, 2004
4505 posts
2165 upvotes
Calgary
True North owns Think Financial and recently started financing their own mortgages. My rental property is with them and nothing but good things to say. They are very prevalent in Alberta.
Deal Addict
Sep 12, 2006
1503 posts
438 upvotes
I am a new customer with them, since April. No issues.
Deal Addict
Nov 10, 2018
4554 posts
4990 upvotes
I love them. Seriously adore them!
For legal topics and discussions, the opinion, guidance, and thoughts provided are my own and are not considered to be legal advice, in any manner.
Deal Addict
Nov 6, 2015
1101 posts
682 upvotes
Guelph, ON
They are giving you money, not the other way around. If you get the terms you want, then I don't understand how they could be bad for you.
Deal Addict
Nov 30, 2006
2349 posts
202 upvotes
I'm another customer with positive things to say. My mortgage is with them and it's been a great experience. I'm in Ontario FYI
Deal Addict
Jan 26, 2016
2227 posts
2250 upvotes
Toronto, ON
They are very good. They were very honest and covered full transfer of mortgage with zero money out of pocket. Customer service was beyond anything I could have expected.
Deal Addict
Jan 3, 2007
2968 posts
405 upvotes
Toronto
I heard that they are hard to get out of upon renewal - that other lenders don't want to take clients that were with THINK before?
Member
Apr 17, 2017
203 posts
109 upvotes
Ottawa, ON
penguindude wrote: I heard that they are hard to get out of upon renewal - that other lenders don't want to take clients that were with THINK before?
Could someone please elaborate on this?
Deal Addict
Apr 18, 2013
3727 posts
1924 upvotes
Canada
penguindude wrote: I heard that they are hard to get out of upon renewal - that other lenders don't want to take clients that were with THINK before?
Why would this be the case? Is this true? And what exactly does "hard to get out of" mean?
Sr. Member
Jun 12, 2015
732 posts
348 upvotes
Mississauga
gbill2004 wrote: Why would this be the case? Is this true? And what exactly does "hard to get out of" mean?
Would also like to know, am considering them too
Deal Addict
Aug 4, 2006
3302 posts
2062 upvotes
Toronto
Had one almost major issue regarding confidentiality with them (won't elaborate here, likely an individual screwup in back office), but otherwise it's been fairly straightforward. Post in the mortgage rates thread and someone will PM you with a very good rate. I was recently approved and frankly the process was pretty easy. Some people complain about the documents needed but the online portal for true north was imo really easy/clean and saved a ton of emails. I've heard they are very strict on their requirements but do offer the best rate (beat my other broker by 0.30%) Mortgage closes in a month so will see what happens.
Deal Addict
Aug 4, 2006
3302 posts
2062 upvotes
Toronto
penguindude wrote: I heard that they are hard to get out of upon renewal - that other lenders don't want to take clients that were with THINK before?
I don't have firsthand experience but asked several brokers this question. The third party broker who didn't offer them told me this same thing and when I pressed them on it they said I would likely have to refinance instead of transfer and it would result in some additional legal/transfer fees if required of around $1k. I am NOT an expert here so please take this with a grain of salt, but that is essentially the answer I got. I also spoke to another broker who told me that they had personally transferred out of Think without issue (not to a big 5 bank though).
Deal Addict
Jan 23, 2017
1155 posts
1261 upvotes
Calgary
Got my first mortgage though them. The service was incredibly good! Best part of the entire transaction.

Was able to DocuSign nearly everything, email responses were fast, calls always returned, not putting me on hold for questions. I'll be hard pressed to go elsewhere if rates aren't significantly better.
Newbie
Aug 6, 2020
10 posts
3 upvotes
OKSpring wrote: Got my first mortgage though them. The service was incredibly good! Best part of the entire transaction.

Was able to DocuSign nearly everything, email responses were fast, calls always returned, not putting me on hold for questions. I'll be hard pressed to go elsewhere if rates aren't significantly better.
Hey, I'm actually in the process of closing a mortgage with them. Did they use FCT for your transaction too? For some reason my documents needed to be sign in person?
Deal Addict
Jan 23, 2017
1155 posts
1261 upvotes
Calgary
erichunt wrote: Hey, I'm actually in the process of closing a mortgage with them. Did they use FCT for your transaction too? For some reason my documents needed to be sign in person?
I'm not familiar with FCT?

I did have to sign a few mortgage docs with the lawyer who sent them to THINK Financial, but we're talking 2-3. Everything was email correspondence pretty well, with one representative/broker.
Sr. Member
Sep 13, 2007
739 posts
330 upvotes
Toronto
as people say, great customer service, they offer good rates and terms but only if you the A+ borrower that they are looking for.

and for that, they ask for tons of paper documents, and have more stringent borrowing criteria, they really vet you out

as someone once said, if there was a scale for the underwriting out of 10, i would they are a 12
Deal Addict
Jan 26, 2016
2227 posts
2250 upvotes
Toronto, ON
noobienoob wrote: as people say, great customer service, they offer good rates and terms but only if you the A+ borrower that they are looking for.

and for that, they ask for tons of paper documents, and have more stringent borrowing criteria, they really vet you out

as someone once said, if there was a scale for the underwriting out of 10, i would they are a 12
That might be true. But they took my documents (pay stubs, letter) and there was no fuss, just an email and they processed it. FCT did the signing over the webcam.

No issues, and they covered all costs. Not too often you come across a company that actually treats their customers well.
Sr. Member
Sep 13, 2007
739 posts
330 upvotes
Toronto
WinterSleep wrote: That might be true. But they took my documents (pay stubs, letter) and there was no fuss, just an email and they processed it. FCT did the signing over the webcam.

No issues, and they covered all costs. Not too often you come across a company that actually treats their customers well.
hmm maybe it's cause we had two ppl in our applications, and one of them was job transitioning, so they were iffy about that...even then, we manage to make it work.

i do hear you, there wasn't anything about fear mongering like "oh if you got with XYZ small company, they may go bankrupt so you should go with us" or
"is there a collateral charge" then the conversation goes downhill
Jr. Member
Dec 9, 2007
133 posts
110 upvotes
Coquitlam, BC
happy to deal business with Think mortgage (via True North) - I live in Vancouver metro area.

Two things:
1. Rapid communication, clear straight to the point, no fuss, broker end up giving competitive rate + cashback
2. Think mortgage online platform is pretty good - self serve if you need to change anything, you can track the changes/calculation etc.
3. They are quite transparent with their fees: https://www.thinkfinancial.ca/information

Overall no fuss, unlike the bank who always try to sell you something

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