National Bank
Is Part of RateShop Mortgage's Trusted Canadian Lender Network
National Bank: Comprehensive Mortgage Solutions
History as a Mortgage Lender in Canada
Founded in 1859, National Bank of Canada is one of the Top 6 banks in Canada and a recognized leader in financial services. Headquartered in Montreal, Quebec, it has a long-standing reputation for supporting homeownership and economic growth across Canada. As a Schedule I bank, National Bank serves millions of clients and is celebrated for its personalized service and innovative lending solutions.
Types of Mortgage Products & Programs
National Bank provides a wide variety of mortgage options:
Residential Mortgages:
Fixed-Rate Mortgages: Lock in a stable interest rate for predictable payments.
Variable-Rate Mortgages: Benefit from market-driven interest rate fluctuations.
Home Buyers Plan (HBP) Mortgages: Integrates government programs for first-time buyers.
Refinancing Mortgages: Access home equity for renovations, debt consolidation, or investments.
Line of Credit (Home Equity): Borrow against the equity in your home with flexible repayment terms.
Commercial Mortgages:
Financing for commercial properties, including offices, retail spaces, and mixed-use developments.
Tailored solutions for real estate investors and business owners.
Specialized Mortgages:
First-Time Home Buyer Program: Lower down payments and access to NBC’s exclusive first-time buyer tools.
Self-Employed Mortgages: Flexible income verification for entrepreneurs and contractors.
Bridge Financing: Short-term loans for closing property transactions.
Minimum Credit & Income Requirements
National Bank has diverse eligibility criteria to accommodate various borrower profiles:
First-Time Buyers:
Minimum Credit Score: 650+ for insured mortgages.
Down Payment: As low as 5% with CMHC insurance.
Self-Employed Borrowers:
Accepts stated income with proof of business stability (e.g., financial statements or contracts).
Newcomers to Canada:
Offers flexible mortgage options requiring limited Canadian credit history.
Down payment requirements starting at 10%.
Credit-Challenged Borrowers:
May require higher down payments or guarantors.
We'll find great rates like this one from one or our several lending partners across Canada.
Call Now for a Free Rate Quote
5 Year - Fixed Term from
4.29%
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Everyone's rate is unique.What's yours?
It is our job to get your lowest possible rate. Your rate qualification depends on certain factors, such as credit score and home equity as per regulations.
*Advertised rates may not be offered by this lender. Mortgage lender offers are aggregated by RateShop & its Brokerage Network subject to change without notice. Speak with our mortgage broker about APR and qualification requirements.
Mortgage Underwriting Criteria for Approval
National Bank evaluates mortgage applications based on
Credit Score: Minimum 600-650 for most programs.
Income Verification: Accepts pay stubs, T4s, or business income proof for self-employed individuals.
Debt Service Ratios:
GDS: Maximum 39% of gross income for housing costs.
TDS: Maximum 44% for total debts.
Down Payment: Minimum of 5% for insured mortgages; 20% for uninsured loans.
Property Valuation: Ensures the property’s value matches the loan request.
Locations Serviced and Branch Presence in Canada
National Bank has an extensive branch network, with over 400 locations nationwide, concentrated in Quebec but also serving clients across provinces. Additionally, its digital platform enables seamless mortgage applications and account management for all Canadians.
Mortgage Application Checklist
Borrowers applying through RateShop Mortgages and National Bank should prepare:
Government-issued ID (passport, driver’s license).
Proof of income: Pay stubs, T4s, or business records for self-employed borrowers.
Recent credit report (optional, as NBC conducts a credit check).
Proof of down payment: Bank statements or a gift letter, if applicable.
Purchase agreement (if a property has been selected).
How to Start a Mortgage Pre-Approval
To secure a mortgage pre-approval through National Bank with RateShop Mortgages:
Complete an Online Application: Provide income, credit, and property details.
Submit Required Documents: Proof of identity and financial stability.
Consult with a Broker: RateShop brokers will guide you through National Bank’s mortgage offerings.
Receive Your Pre-Approval: Lock in your rate for 90-120 days and confidently begin your property search.
How to Get Mortgage Rates
National Bank offers competitive rates accessible via:
RateShop’s Mortgage Comparison Tool: Quickly compare National Bank’s rates with other lenders.
Broker Assistance: Work with a RateShop broker to negotiate the best terms.
Mortgage Pre-Payment Options
National Bank provides flexibility for borrowers looking to pay off their mortgage faster:
Lump Sum Payments: Make annual lump sum payments up to 15% of the original principal.
Payment Increases: Increase your regular payments by up to 15% annually.
Accelerated Payment Options: Opt for weekly or bi-weekly payments to save on interest over time.
With National Bank’s comprehensive mortgage offerings and RateShop’s expertise, borrowers gain:
Access to competitive rates and tailored financial solutions.
Support for first-time buyers, self-employed individuals, and newcomers.
Nationwide service through digital tools and expert brokers.
Partner with RateShop Mortgages and National Bank to achieve your homeownership goals while enjoying flexible terms, great rates, and dedicated support.
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Contact Information
6 Indell Lane, Brampton ON L6T 3Y3, Canada
Local: 416-827-2626
Toll: 800-725-9946
RateShop Inc. is a Mortgage Brokerage offering lowest mortgage rates to Canadians. We are provincially licensed in the following provinces: Mortgage Brokerage Ontario FSRA #12733, British Columbia BCFSA #MB600776, Alberta RECA #00523056P, Saskatchewan FCAA #00511126, PEI #160622, New Brunswick FCNB #88426, Newfoundland/Labrador. Our Quebec Mortgage Transactions are serviced by Orbis Mortgage Group AMF# 181136.
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