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 $5,000 cash back. No branch visits or paperwork — just a simple, digital-first experience.
Pine’s low rates
Loading...Fixed mortgage rate
A fixed rate means your insured rate will stay the same for the term of your mortgage.
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 lender, meaning they skip brokers and other intermediaries to help eliminate fees that lead to higher rates.
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.
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 | |
|---|---|---|---|
| $150k–$249k mortgage | $150 | $500 | $1,000 |
| $250k–$499k mortgage | $300 | $750 | $1,500 |
| $500k–$749k mortgage | $450 | $1,000 | $2,000 |
| $750k–$999k mortgage | $750 | $1,500 | $2,500 |
| $1M+ mortgage | $1,000 | $3,000 | $5,000 |
how to: housing guide
Everything you need to know to buy a home
Can you write a (nearly) foolproof offer letter? Why should you never close on a Friday? Here's answers to the most important and confusing questions home buyers face.
Why we partnered with Pine
Pine is the triple threat of mortgage lenders — digital, direct, and regulated. Determined to save you time and money, they create efficiencies by automating tasks like underwriting and removing go-betweens like brokers. They’re changing the way Canadians do mortgages — kind of like what we did with money.
Kate Flanagan, Senior Mortgage Agent
Advice at every step
Once you’ve completed the online application, Pine assigns you a dedicated agent to walk you through the process. From start to finish, they’ll be there to personally answer all your questions, get you a low rate, and sweat every detail so you don’t have to.
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 Cash 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
No, that’s why we’ve partnered with Pine, to help you spend less on your mortgage with low rates and great monthly rebates.
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.
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)
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Fixed rate - 1, 2, 3, 4, 5 yr term + 25 yr amortization period
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Adjustable Rate Mortgage (ARM) - 5 yr term + 25 yr amortization
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Refinances do not qualify for mortgage insurance
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Pre-approval available
Uninsured Mortgage – purchase & switch/renew (property value >$1M)
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Fixed rate - 5 yr term + up to a 30 yr amortization period
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Adjustable Rate Mortgage (ARM) - 5 yr term + 25 or 30 yr amortization
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Refinance available
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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.
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:
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For closed fixed-rate mortgages, the penalty to break is equal to the greater of the interest rate differential, or 3 months' interest
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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.
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.
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.
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.