Shinhan Bank of Canada Mortgage Lender Profile
Generally for Customers near its Toronto-area or Coquitlam branches, including Korean-Canadian clients, newcomers and small business owners with banking history partly overseas.
Who they are
Shinhan Bank Canada is a Schedule II Canadian bank and the Canadian subsidiary of Shinhan Bank, part of South Korea's Shinhan Financial Group. In its own careers materials it describes itself as a growing Schedule II bank focused on long-term customer relationships. It is a member of the Canada Deposit Insurance Corporation, the federal scheme that insures eligible deposits, and it is regulated federally by the Office of the Superintendent of Financial Institutions. It runs a small branch network from its head office at 5140 Yonge Street in Toronto, with further branches in North York, Mississauga and Coquitlam, British Columbia.
What they lend on, and who for
Shinhan Bank Canada offers residential and commercial mortgages alongside personal loans, business loans and deposit products including GICs. It is a relationship-driven bank with a limited branch footprint, so it lends principally to customers in the markets it serves, including a significant Korean-Canadian community. Newcomers to Canada and small business owners whose banking history sits partly overseas often approach it. It does not publish a broad mortgage broker programme in the way monoline and alternative lenders typically do, so how it takes mortgage applications from outside its own branch network is not clearly stated.
How to approach Shinhan Bank of Canada
You can contact Shinhan Bank of Canada yourself; nothing stops you. What you cannot easily find out is what they will actually accept. How they read employment income, what they will do with a bonus or commission, how much rental income they will count against a property, and what they want documented and how recent it has to be — none of that is published in full anywhere, and it moves.
A licensed broker who places files with lenders like this every week knows those criteria, and more usefully knows how to structure a file so it lands inside them rather than just outside. On anything that is not a straightforward salaried purchase, that structuring is most of the difference between an approval and a decline. It costs you nothing on a prime mortgage — the lender pays the broker when it funds.
| Lender type | Bank · Schedule II |
| Registered as | Shinhan Bank Canada |
| Head office | 5140 Yonge Street, Suite 2300, North York (Toronto), ON M2N 6L7 |
| Parent or group | Shinhan Bank / Shinhan Financial Group (South Korea) |
| Website | shinhan.ca |
| Phone | 416-250-3500 |
Get notified 90 days before your renewal
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Borrower ratings for Shinhan Bank of Canada
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Was the rate you got competitive for the product you qualified for?
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Questions about Shinhan Bank of Canada
Is Shinhan Bank of Canada a real mortgage lender?
Yes. Shinhan Bank of Canada is a bank (schedule ii) based in Ontario, part of Shinhan Bank / Shinhan Financial Group (South Korea). Its own site is shinhan.ca.
What kind of lender is Shinhan Bank of Canada?
Bank — categorised in our directory as Bank (Schedule II). Chartered banks. Convenient and familiar, rarely the cheapest, and the source of the most expensive break penalties in the market because their interest rate differential is calculated off posted rates rather than the rate you actually pay.
Who owns Shinhan Bank of Canada?
Shinhan Bank of Canada is part of Shinhan Bank / Shinhan Financial Group (South Korea). Ownership matters mainly because it tends to determine the funding source and, on a fixed mortgage, how the break penalty is calculated.
Should I go to Shinhan Bank of Canada directly or through a broker?
You can approach them yourself. The reason most people do not is that a lender's real criteria — how income is read, what is accepted as documentation, what will be allowed as an exception — are not published, and they change. A broker who works with Shinhan Bank of Canada regularly knows them and knows how to present a file to fit them, which on anything other than a simple salaried purchase is usually what decides the answer. On a prime mortgage it costs you nothing either way, because the lender pays the broker when it funds.
Would Shinhan Bank of Canada approve me?
No profile page can answer that, and any site that tries is guessing. It turns on how your income is earned and how much of it a lender will count, your credit history, the property itself, and how much you need against what it is worth. Those are the questions a licensed broker asks before naming a lender — and they will tell you which ones realistically fit, this one included, and which would price it better.
Where does Shinhan Bank of Canada lend?
Its head office is in Ontario. Lending areas change and are not always the same as where the lender is based — confirm current coverage with the lender or a broker before planning around it.
Would Shinhan Bank of Canada take your file?
Send us the details and a licensed broker will tell you which lenders fit — this one included, and the ones that would price it better.
Send us the file