True North Mortgage is a Canadian company that provides their clients with a variety of mortgage packages. Their claim to fame is their CEO Dan Eisner who has appeared on the popular CBC show “Dragon’s Den.”
True North is headquartered in Calgary; however, they have 10 offices across Canada from Vancouver all the way to Halifax. Their three Toronto offices are located in the Richmond Adelaide Centre, on King Street West, and on Wellington Street.
True North Mortgage operates as a hybrid bank and brokerage firm. The reason it is considered a half-bank/half-brokerage is because it is set up like a retail store where clients can walk in and get a mortgage.
Another way that True North differs from other mortgage brokerages is that its brokers are considered sales professionals as opposed to brokers. They are paid a base salary instead of receiving a commission from the lender when they’ve closed a mortgage. However, like most mortgage brokers they offer their services for free.
In the end, whether the broker is paid an annual salary or works on commission from a lender, it should not affect your mortgage package choices. If a broker is proficient at matching lenders to borrowers, it won’t matter how they collect their paycheque.
True North Mortgage claims that they will beat any competitor’s offer otherwise they will give you $500. It is common for larger brokerage firms to provide incentives like this to lure in clients.
True North has various mortgage products such as:
True North works with lenders large and small. They have relationships with large public banks and small private trust companies. Basically, if there’s a financial institution in Canada, chances are, True North Mortgage deals with them in some capacity.
Truenorthmortgage.ca has sufficient information regarding the mortgage industry. They have articles that deal with the CMHC, your credit, working with a real estate agent and other topics that are related to the lending process. True North Mortgage also offers borrowers the option to apply directly via their website instead of visiting one of their retail locations.Back
Your home is your most valuable asset. It is probably the single largest investment you will make in your lifetime. Your home is more than a place to rest your head and raise a family. Your home contains equity. It is a treasured resource and in some cases, can even be used as an ATM (aka cash back mortgages and HELOCs – don’t worry we’ll get there).
Everyone who is looking to purchase a home will need a mortgage. But, what is a mortgage exactly and why do you need it? Besides being the term to describe a loan secured by real estate, a mortgage allows you to access funding to procure your dream home.
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