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With our partner, Pine

Get a low mortgage rate from your living room

Get a mortgage through Pine and we’ll give you up to $3,000 cash back. No branch visits or paperwork — just a simple, digital-first experience.

A looping video of moving boxes stacking on top of each other.

Pine’s low rates

5 year term

Loading...Fixed mortgage rate

A fixed rate means your insured rate will stay the same for the term of your mortgage.

5 year term

Loading...Variable mortgage rate

A variable rate means your insured rate could change over the term based on the Bank of Canada’s prime interest rate.

For information about APR and the assumptions on these rates, click here.

The future of home buying is here

Low rates

Our partner, Pine, is a direct and fully-digital lender. With a leaner, automated process, they cut out unnecessary fees and pass the savings on to you.

Faster approvals

Get your personalized rate in minutes. The seamless online application process means there’s no need for paperwork or in-person appointments.

Added savings

Eligible clients get an exclusive cash back bonus soon after closing on their mortgage. The more assets you have with us, the more you’ll get back.

Wealthsimple clients get even more

Having all your investments in one place means spending less on your mortgage. T&Cs apply.

$1 in assets

Up to $500

Core rebate

$100,000 in assets

Up to $1,500

Premium rebate

$500,000 in assets

Up to $3,000

Generation rebate

Let’s calculate your potential cash back

Your total is based on a combination of your mortgage amount and your client status.

Core
Premium
Generation
$100k–$249,999 mortgage$100$250$500
$250k–$499,999 mortgage$150$500$750
$500k–$749,999 mortgage$200$750$1,000
$750k–$999,999 mortgage$250$1,000$1,500
$1M+ mortgage$500$1,500$3,000
Boxes built into the shape of a home.

Why we partnered with Pine

Pine is the triple threat of mortgage lenders — digital, direct, and regulated. By automating time-consuming steps like underwriting, they make the process faster, cheaper, and easier for you. Plus, they’re changing the way Canadians do mortgages — kind of like what we did with money.

Sharie Minions, Principal Mortgage Broker

The right mortgage, no matter what

If our partner Pine doesn't have the right mortgage for you, one of our Wealthsimple brokers will take over and search the entire market to help find you the perfect fit at a great rate. They’ll handle all the details for you and connect you to the right people.

How to go from loan to home

1. Secure your rate

Apply online, answer some general questions, and get your personalized rate in a matter of minutes.

2. Speak with an agent

Pine assigns you a dedicated agent to discuss next steps and offer you their best rate possible.

3. Close and save

Once you’ve closed on your mortgage, your cash back bonus will be deposited into your Wealthsimple chequing account within 5 business days.

Make the move and get a low rate

You’re just a few minutes away from getting a personalized rate.

Extra helpful articles and advice

A few things to know before buying, renewing, or refinancing.

FAQs

Is Wealthsimple doing mortgages now?

No, that’s why we’ve partnered with Pine, to help you spend less on your mortgage with low rates and great monthly rebates.

Who is Pine? Why did you decide to partner with them?

Pine is a Canadian mortgage provider that offers a digital-first mortgage process that can be accessed at anytime. They have a dedicated team of experienced advisors, and have helped thousands of Canadians secure a mortgage, with no hidden fees and zero paperwork. With a quick and easy application process, they can offer you a personalized rate in 10 minutes or less, and typically a commitment letter within 48 hours. They're changing the way Canadians do mortgages, and we're changing the way they do money, so choosing them as a partner was a no-brainer.

What mortgages does Wealthsimple x Pine offer?

Pine offers pre-approved, refinancing, and purchase mortgage products with fixed and variable rates, for both insured and uninsured mortgages. Here's a detailed breakdown:

Insured Mortgage – purchase & switch/renew (property value <$1M)

  • Fixed rate - 1, 2, 3, 4, 5 yr term + 25 yr amortization period

  • Adjustable Rate Mortgage (ARM) - 5 yr term + 25 yr amortization

  • Refinances do not qualify for mortgage insurance

  • Pre-approval available

Uninsured Mortgage – purchase & switch/renew (property value >$1M)

  • Fixed rate - 5 yr term + up to a 30 yr amortization period

  • Adjustable Rate Mortgage (ARM) - 5 yr term + 25 or 30 yr amortization

  • Refinance available

  • Pre-approval not available

Here are some other things to consider with Pine's mortgage products:

  • Pine offers a minimum mortgage value of $150,000.
  • Pine limits cash disbursements in re-finances up to $200k. Anything above this limit must be disbursed to a lawyer's trust account for use in specific transactions.
  • Pine does offer HELOC mortgages but this is not their strongest mortgage product in regards to offering low rates, but they’re working hard in the background to improve this offering.

What fees does Pine charge?

If there are fees relevant to closing on your mortgage they will be included in the APR. For example, some deals have a ~$300 fee added to the APR for legal fees & disbursements. However, Pine doesn't make money off fees, meaning they remove certain intermediaries to eliminate unnecessary costs.

Pine doesn't charge any lender fees — this includes origination fees, application fees, processing fees, underwriting fees, and commitment letter break fees.

In the case you want to break your Pine mortgage, a penalty applies and will be dependant on your mortgage terms:

  • For closed fixed-rate mortgages, the penalty to break is equal to the greater of the interest rate differential, or 3 months' interest

  • For adjustable-rate mortgages the penalty to break this term is 3 months' interest

For details about fees charged by Pine, see pine.ca or your commitment letter.

What prepayment privileges exist with Pine?

Pine has two prepayment options. You can either make prepayments totaling up to 20% of the original principal amount of the mortgage per calendar year, or increase your monthly payments by up to 20% of the current payment to reduce the mortgage's amortization without changing its term.

For details about Pine’s prepayment terms, see pine.ca or your commitment letter.

Are Wealthsimple x Pine mortgages available across Canada?

You can get a Pine mortgage through Weathsimple in Ontario, Alberta, British Columbia, Saskatchewan, Manitoba, New Brunswick, Nova Scotia, PEI, and Newfoundland. Pine does not currently offer mortgages in Quebec or the Territories.

How is my cash back calculated?

The cash back amount is calculated based on your client status — Core, Premium, or Generation — and the value of your mortgage.

We’ll use the maximum client status you had between the day you received your commitment letter from Pine and the day your mortgage closed, inclusive of those dates.

If you apply with a co-applicant(s), we’ll use the highest client status between co-applicants. You and your co-applicant can create a household in the Wealthsimple app to combine your assets by following these steps. We’ll use your household client status for the calculation.

You can see more frequently asked questions about the cash back offer here or read the terms and conditions here.

If Pine isn’t the right fit, how will a Wealthsimple broker help me?

If Pine doesn’t have the right mortgage for you, a Wealthsimple broker can step in to help you find one. Our team works with 25+ lenders across the market, so you’ll have plenty of options. We’ll do the searching for you and help you land a mortgage and a rate that you’ll be happy with.