Switch to an A-Lender & Save Thousands
Many Canadians start with Private or B-lender mortgages due to credit challenges, non-traditional income, or high debt levels. But staying long-term costs you thousands in extra interest. RateView helps you calculate your savings and find the best path forward.
Why Switch to an A-Lender?
Lower Rates & Payments
A-lenders offer the most competitive rates, which means lower monthly payments and more money in your pocket.
Less Total Interest
Over your remaining term, you could save tens of thousands in interest charges by switching to a lower rate.
Better Refinance Options
A-lender mortgages give you more flexibility for future refinancing, home equity access, and rate negotiations.
Clear Transition Path
If you're not quite ready for an A-lender, we'll show you the path: Private → B-Lender → A-Lender.
Typical Rate Ranges
See how rates typically compare across lender types. The difference can mean thousands saved.
A-Lender
Best rates, standard qualifications
B-Lender
Mid-range, alternative qualifications
Private Lender
Highest cost, most flexible approval
* These are illustrative ranges and change frequently based on market conditions. Your actual rate depends on credit, property, and lender criteria.
Switch & Save Calculator
Enter your current mortgage details to see how much you could save by switching to an A-Lender.
Your Current Mortgage
Enter Your Details
Fill in your current mortgage information to see how much you could save with our 3.9% variable A-Lender rate.
Mortgage Switch FAQs
What is the penalty for breaking my mortgage early to switch?
For fixed-rate mortgages, the penalty is typically the greater of 3 months' interest or the Interest Rate Differential (IRD). Variable-rate mortgages are usually just 3 months' interest. Our calculator includes the penalty so you can see the true net savings.
How do I know if I qualify for an A-lender?
A-lenders like the Big 6 banks require a minimum credit score of 620–680, verifiable income (T4 employment or 2-year self-employed history), and a debt service ratio (GDS/TDS) that passes the federal stress test at contract rate + 2%.
When is the right time to switch?
The right time is when your credit score, income stability, or debt ratios have improved enough to qualify for A-lender rates. Even if you pay a penalty, you can often break even within 12–24 months and save significantly over the remaining amortization.
What is a B-lender in Canada?
B-lenders (also called alternative lenders) include institutions like Home Trust, Equitable Bank, and MCAP. They serve borrowers who don't qualify for traditional bank mortgages due to credit issues, self-employment, or high debt ratios, typically at rates 1–3% higher than A-lenders.