^* The rate shown here is only for high ratio insured mortgages and is only available for customers who meet all of the following criteria: a) they are purchasing an owner occupied residential property valued at under $1,000,000 with less than 20% down payment; b) the mortgage will be advanced to the customer on or before 45 days from the date of the mortgage application and c) the customers are eligible for mortgage default insurance. For high ratio insured mortgages the Annual Percentage Rate (APR) and the annual interest rate are the same and the standard property valuation fee is waived.

Annual Percentage Rate (APR) is the cost of borrowing expressed as an annual rate, where the cost of borrowing includes all interest and applicable fees such as service charges, legal fees, administrative fees, and appraisal fees (where applicable). If there are no non-interest charges, the annual interest rate and APR will be the same.

¹ The rate(s) shown here are for high ratio insured mortgages and these are only available for customers purchasing an owner occupied residential property valued at under $1,000,000 with less than 20% down payment, and who are eligible for mortgage default insurance. For high ratio insured mortgages the Annual Percentage Rate (APR) and the annual interest rate are the same and the standard property valuation fee is waived.

Annual Percentage Rate (APR) is the cost of borrowing expressed as an annual rate, where the cost of borrowing includes all interest and applicable fees such as service charges, legal fees, administrative fees, and appraisal fees (where applicable). If there are no non-interest charges, the annual interest rate and APR will be the same.

² The 'Bank Special Offer Rate' is the average of the special offer 5 year fixed rate closed mortgage interest rates of the majority of the 6 largest Canadian Schedule 1 banks by market capitalization, as advertised on their respective websites as of April 09, 2024, when available and applicable. The rates are updated weekly on Tuesdays, and when the QuestMortgage Featured Rate changes.

The 'QuestMortgage Featured Rate' is our lowest 5 year fixed rate closed mortgage interest rate available for high ratio insured mortgages only.

³ In the results presented for illustrative purposes only, we assume a $550,000 and a $325,000 QuestMortgage Featured Rate loan, each with a 4.99% APR for a high ratio insured 5 year term fixed rate closed mortgage and a 25-year amortization, as well as total interest payments of $128,457 ($550,000 mortgage loan) and $75,906 ($325,000 mortgage loan) over the 5-year term and $408,709 ($550,000 mortgage loan) and $241,510 ($325,000 mortgage loan) total interest payments at the end of the 25-year amortization. We compared this with the amount of interest the customer would have paid based on the ‘Bank Special Offer Rate’ of 5.15% to get the total potential interest savings to the end of the 5-year term and to the end of the amortization of 25 years. (All amounts in Canadian dollars.) For each of these examples the annual percentage rate (APR) includes all interest and non-interest charges related to the mortgage. As there are no non-interest charges in these examples, the APR and the interest rate will be the same. Actual charges may differ. Assumes that the customer remains with QuestMortgage and all rates are held constant for the entire amortization period. This comparison is updated weekly but any savings amounts and rates shown are subject to change and may vary in the period between the updates.