Our guide to Simplii Financial 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 Simplii Financial mortgages and their current rates.
About Simplii Financial
Founded in 2017, Simplii financial begin offering services to help you save and manage your money easily. Simplii Financial is the most awarded digital bank in the 2021 Ipsos Financial Service Excellence Awards, and one of the biggest winners across all Canadian financial institutions and banking brands. Today, Simplii Financial has almost 2 million clients.
Our review of Simplii Financial
Simplii Financial prides itself on being the best bank, giving you value for money and being experts in mortgage financing. There variety of mortgage calculators will help you determine your finance plans, as well as their mortgage specialists being at your disposal online. Whether you are buying a home, transferring your mortgage, all the information and help you need can be found on the Simplii Financial website.
Simplii Financial mortgage pros and cons
Here are some of the advantages and disadvantages of Simplii Financial mortgages:
Why Simplii Financial might be right for you:
Great customer support
Variety of mortgage products
Why Simplii Financial might not be right for you:
Minimal in-person interaction
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 Simplii Financial offer?
Below is a table showing some details about the different mortgage plans Simplii Financial offers. Most providers will offer a variety of mortgage options.
| Coverage type | Fixed-rate mortgages | Variable-rate mortgage |
|---|---|---|
| Bonus cash | Up to $3,000 | Up to $3,001 |
| APR | 3.24% | 1.79% |
| Term options | 2 to 10 years | 5 years |
| Mortgage rate guarantee | 120 days | - |
| Benefits | No appraisal fees and earn when you refer a friend | No appraisal fees and earn when you refer a friend |
| Online calculators |
What mortgage rates does Simplii Financial 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 Simplii Financial offers:
Rate Types | Term Length | Rate |
|---|---|---|
High-ratio fixed | 5 years | 3.19% |
High-ratio variable | 5 years | 1.79% |
Fixed | 2 years | 2.89% |
Fixed | 3 years | 3.64% |
Fixed | 4 years | 4.29% |
Fixed | 5 years | 4.74% |
Fixed | 7 years | 5.39% |
Fixed | 10 years | 6.25% |
Variable | 5 years | 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 Simplii Financial?
There are many ways you can contact Simplii Financial:
Email:
[email protected]
Telephone:
1-888-723-8881
Estates support (toll-free):
1-877-433-1907
Monday to Friday:
9:00 am to 6:00 pm ET
Our Simplii Financial mortgage calculator
Want to calculate what your Simplii Financial 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
