Our guide to National Bank mortgages
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Discover the methodologyWhen it comes to mortgages, there are a lot of things to think about. What’s the interest rate? What’s the term? Do you want a fixed or a variable interest rate?
There are lots of important questions to ask when you’re shopping around for a mortgage. But at the top of that list is without a doubt, "which mortgage lender should you work with?"
Each lender has its own set of pros and cons, so it’s important to understand the differences before you decide which one is right for you. In this review, we take a close look at National Bank mortgages and their current rates.
About National Bank
National Bank was founded in Montreal, 1979. Since then, they have been providing services to Canadian such as mortgages, bank accounts, credit cards and borrowing services. As well as offering financial services, National Bank aid the fight against challenges facing communities by partnering with organizations, especially for young people.
Our review of National Bank
The Nation Bank website has a clear page explaining all their products and special offers on certain terms. You have the choice of a variety of mortgage options, whether you're a first-time home owner, have a secondary property or are looking at mortgage renewal. They make three different types of mortgage calculators available to you, allowing you to determine your future mortgage financing plans.
National Bank mortgage pros and cons
Here are some of the advantages and disadvantages of National Bank mortgages:
Why National Bank might be right for you:
Long-standing reputation
Competitive rates
Many branches located all across Canada
Why National Bank might not be right for you:
Rates and qualifying information are not available online
To find the best mortgage rates, it is important to weigh quotes from different lenders. Subtle differences in the interest rates, term lengths and fine print can mean tens of thousands of dollars over the course of the mortgage. Use our free, online mortgage rates comparison tool today to help you find the perfect provider!
Compare mortgage rates now
What types of mortgages does National Bank offer?
Below is a table showing some details about the different mortgage plans National Bank offers. Most providers will offer a variety of mortgage options.
| Coverage type | First-time home owner | Secondary property | Mortgage renewal |
|---|---|---|---|
| Pre-approval | |||
| Cashback | Up to $3,000 | Up to $3,001 | - |
What mortgage rates does National Bank offer?
There are two main types of mortgage rates in Canada: fixed and variable rates.
Fixed-rate mortgages are a great option for people who want to know exactly what their interest rate will be throughout the entire course of their loan term. With a variable rate, your payments change based on market conditions. This could mean rates that go up over the course of the term.
Below are some of the mortgage rates National Bank offers:
Rate Types | Term Length | Rate |
|---|---|---|
Fixed-open | 6 months | 7.05% |
Fixed-open | 1 year | 7.05% |
Fixed-closed | 3 months | 4.25% |
Fixed-closed | 6 months | 4.40% |
Fixed-closed | 1 year | 2.79% |
Fixed-closed | 2 years | 2.94% |
Fixed-closed | 3 years | 3.45% |
Fixed-closed | 4 years | 4.09% |
Fixed-closed | 5 years | 4.79% |
Variable | 60 month | 2.70% |
Want to compare mortgage rates in Canada from other lenders? You can for free, and anonymously right on this website.
Compare mortgage rates now
How do I contact National Bank?
To contact National Bank for specific queries regarding mortgages, you must log into your online banking account. However, if you do not have a National Bank account, you can send an email through their website.
For general enquiries, call Nation Bank at:
1-888-483-5628 or 514-394-5555
Our National Bank mortgage calculator
Want to calculate what your National Bank mortgage will look like? We have some tools right here on our website that can help:
Our mortgage payment calculator lets you see monthly payments and gives a yearly amortization schedule.
Our mortgage affordability calculator will help you determine how large a mortgage you can get.
Our mortgage default insurance calculator will tell you how much you'll owe for mortgage default insurance
