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[truenorthmortgage.ca] True North Mortgage - 5 Year Fixed Rates from 1.79%

Jr. Member
User avatar
Mar 20, 2005
100 posts
39 upvotes
Calgary
I can also vouch for True North. I've had a couple mortgages through them and they are professional, fast and effective.
Deal Addict
Jul 10, 2014
2614 posts
919 upvotes
Ottawa, ON
willy0275 wrote: At the moment, it seems anything on the stock market will beat 2%. Heck, the S&P 500 itself rises 2% per week! Close your eyes and pick a stock.
I would mostly agree with this. I wasn't trying to argue a point really other than nothing is guaranteed, however, if I had to choose, I'd take XGRO to beat 2% returns in a relatively safe manner. Perhaps not as safe as a house but REITs are getting hammered so it all depends how you invest in real estate.
Jr. Member
Oct 3, 2013
133 posts
53 upvotes
Surrey
I just did an early renewal, 14 mnths early, when i called in to ask for the penalty payment estimate. I was going to switch to CIBC at 1.92% fixed 5yr with a $1200 cash bonus. Penalties were around 1.1K so I would gain a little and lock in at a better rate for the next 5years.

But True North countered with an offer at 1.87 fixed 5yr and penalties wavied. I ended up sticking with True North/Think Financial. Was pleasantly surprised at how fast they countered and how easy it was.
Sr. Member
User avatar
Feb 2, 2010
936 posts
763 upvotes
djdestroyer wrote: Yes. Housing isn't guaranteed, nothing is. IMO XGRO will beat 2% return.
IMO the same investment leveraged on a rental property will result in a return on an order of magnitude larger than XGRO (if XGRO does provide a positive return).

This might also interest you...
"because XBAL and XGRO are new mandates for ETFs with a relatively long history (their predecessors were launched 11 years ago), their past performance history is entirely meaningless."
Deal Addict
Jul 10, 2014
2614 posts
919 upvotes
Ottawa, ON
Tapout123 wrote: IMO the same investment leveraged on a rental property will result in a return on an order of magnitude larger than XGRO (if XGRO does provide a positive return).

This might also interest you...
"because XBAL and XGRO are new mandates for ETFs with a relatively long history (their predecessors were launched 11 years ago), their past performance history is entirely meaningless."
Again, if it's a rental property then sure but that requires a lot more effort.
Sr. Member
User avatar
Feb 2, 2010
936 posts
763 upvotes
minwersh wrote: I actually used True north 2 years ago when I purchased my property. Previously I owned a condo and sold it to upsize to a house. My mortgage for the condo was with BMO. My co-worker referred me to true north as they also have an employee program with my company. Long story short I reached out to both BMO and True north for variable mortgage. True north blew BMO out of the water with their rates so I reached out to the branch manager at BMO as I've been with them for ~10 years and I even had a mortgage with them. The manager told me straight up that even he himself as an employee doesn't have his mortgage with BMO and ended up going down the brokers road for best rates.

In summary, always go with a broker. Even now they still reach out to me to tell me that they may a) have better rates or b) if I have any issues with payments and looking to readjust. Highly recommended and if anyone needs a contact at true north just PM me hopefully hes still working there.
I would generally agree with this, but a word of caution: brokers dont always "shop around" for the best rates and products. The broker I used for several years always got me a good deal, but it always ended up with the same lender. It turns out that he sends so much business their way that his customers got a better rate than advertised, and he got oodles of commission from that particular lender, which would be fine, but for me, the product (HELOC) wasn't very convenient and I would have liked to have had the option of other lenders and products.
Deal Addict
Jan 10, 2009
1662 posts
727 upvotes
Boom and Bust Calgar…
Gbyrd wrote: I'm genuinely curious, do you rent instead? I'm of the mind to rent and put my cash into the market. Dividend stocks + yoy growth stocks. Which I am and then take a little and wsb gamble it. Find it better than tying all my liquidity in a house which I'll be forced to have and in an emergency forced to sell. Cause 100-200k gives tons of burn rate in terms of emergency funds.
I bought my first detached house for $190K back in 2002. I sold it for $400K. I bought this house for $535K.

Back then, buying was a little more than renting. These days that might not be the case. Young people are screwed. QE inflated the housing market big time.
Deal Addict
Jan 10, 2009
1662 posts
727 upvotes
Boom and Bust Calgar…
Tapout123 wrote: IMO the same investment leveraged on a rental property will result in a return on an order of magnitude larger than XGRO (if XGRO does provide a positive return).

This might also interest you...
"because XBAL and XGRO are new mandates for ETFs with a relatively long history (their predecessors were launched 11 years ago), their past performance history is entirely meaningless."
I hope you know what risk adjusted return is.
Member
Jan 19, 2017
442 posts
737 upvotes
Honestly this thread reads like a bunch of Foreign investors worried about getting money back on investments lol. I own a home and i use it to live in. if it goes up in price great, if it doesn't, whatever. This is my home i live in and not an investment. People need to stop treating real estate as this hot easy return investment.
Deal Addict
Jan 10, 2009
1662 posts
727 upvotes
Boom and Bust Calgar…
pdipps wrote: I'd argue snarky points like "If you're buying a house and are surprised by CMHC at the time of signing, you have bigger worries." aren't terribly helpful, especially for the types of people you're alluding to (that would be surprised about CMHC fees). And they probably have a whole bunch of money-related worries exactly BECAUSE they get suckered precisely by sort of advertising.
I hope you go into every goddamned mortgage thread and write "BUT DON'T FORGET CHMC!!"
Sr. Member
User avatar
Feb 2, 2010
936 posts
763 upvotes
djdestroyer wrote: Again, if it's a rental property then sure but that requires a lot more effort.
True, although there are rental property options out there that are completely hands-off. They do require that you pay a fee for managing your units, as well as a bonus to purchase them, all of which reduce your ROI, but they are still good investments as you get to pocket the 75% of the property value that someone else paid for via rent.

BTW, I may grab some XGRO, (I like diversification Smiling Face With Open Mouth), but if I were picking stock today, I'd go with Cargojet (CJT.TO), they signed a big contract with Amazon and are doing very well.
Deal Addict
Jan 10, 2009
1662 posts
727 upvotes
Boom and Bust Calgar…
RedSwagDeals wrote: Honestly this thread reads like a bunch of Foreign investors worried about getting money back on investments lol. I own a home and i use it to live in. if it goes up in price great, if it doesn't, whatever. This is my home i live in and not an investment. People need to stop treating real estate as this hot easy return investment.
People actually think that they bought a place and it went up in price because they were smart and chose wisely. When it fact it was just loose monetary policy.
Sr. Member
User avatar
Feb 2, 2010
936 posts
763 upvotes
RedSwagDeals wrote: Honestly this thread reads like a bunch of Foreign investors worried about getting money back on investments lol. I own a home and i use it to live in. if it goes up in price great, if it doesn't, whatever. This is my home i live in and not an investment. People need to stop treating real estate as this hot easy return investment.
No one said it was easy (just the opposite) and certainly not "hot" (unless you're trying to invest in TO, which is pretty much the definition of insanity), and your home certainly is an "investment". You've purchased real estate (on leverage) and are paying for it on an installment plan at a reasonable interest rate while enjoying the benefit of living in it. I think you'll realize how much and how wise an investment it is when 15 years from now you go to sell it and discover it's worth 2-3 times (or more) what you paid for it, and your mortgage has been paid off so you get to keep all that money.
Deal Addict
Jan 10, 2009
1662 posts
727 upvotes
Boom and Bust Calgar…
dbcanuck wrote: The secret truth about banks is that they a regulated around their lending risk across portfolios. So there are times where banks will consciously post unfavorable rates to reduce their lending pool exposure to the mortgage market. Also, a surprising number of people just renew at whatever package is mailed to them.

Generally I'd only shop my mortgage around with major lenders (canadian or international banks), as the mortgage lenders are one trick ponies and very volatile in terms of staffing. even if they're great lenders at the time of your mortgage, when the renewal comes if its hard times they'll screw you...or just be difficult to work with.
If your lender does belly up, you still have your place. IRL, any mortgage lender in distress, assuming it is a unique event, would be snapped up in an instant (see: HCG). If it truly died, as a last resort the gov't would take over the loans, but that's never going to happen.

And "in terms of staffing", when I last had a mortgage with a big bank, I ended up talking to many different people there. I certainly didn't have a specialized mortgage handler.
Member
Jun 19, 2009
400 posts
88 upvotes
Ottawa
Was anyone able to get the 1.79% 5yr fixed or better for uninsured?

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