nesto acquires CMLS Group

nesto’s Low Rate Guarantee

Find your low rate
with nesto or get $500*

Speak to a mortgage expert now 1-866-656-7354
nesto’s Low Rate Guarantee
nesto’s Low Rate Guarantee

With nesto, it’s stress-free.

Work with an expert to get unbiased advice tailored to you

Save big on your mortgage and get a low rate from the get go

Find a better rate and we’ll match it, beat it, or give you $500*.

Here’s how it works

1. Submit your nesto mortgage application.

Whether it’s online or over the phone, you need to first submit your mortgage application with us.

2. Secure a rate with nesto.

Once you receive email confirmation that your rate is locked, this is when your Low Rate Guarantee kicks off!

3. Explore your other options.

You have 5 calendar days to explore similar mortgage rate options from Top Banks in Canada.

4. nesto can match or beat the offer :

If you find a better rate for an equivalent mortgage product, submit the formal mortgage rate offer from the Top Banks to nesto.

It’s that simple! You’ll find below further details
on the specific steps and conditions.

If nesto can match or beat the offer: We will confirm your new best rate in writing, and then continue on your funding journey. If nesto cannot match or beat the offer: You will be eligible for $500 at the funding of your mortgage with the other lender.

Why does nesto offer
this guarantee?

You shouldn’t have to go bank-to-bank, broker-to-broker to secure a solid rate.

If you find a better rate elsewhere, we are committed to matching or beating this rate, it’s simply doing what’s best for you. If we can’t match or beat the other offer, we will give you $500 as a goodwill gesture.

At nesto, we are on a mission to offer a positive, empowering and transparent property financing experience, simplified from start to finish. We believe in always putting our best foot forward and offering our best rates from the start: Low from the get goTM.

Read all the details here:

Which mortgages are eligible?

  • This offer is available to conventional and insured mortgages, specifically
    • Purchases under $1M
    • Renewals under $1M
    • Properties in urban areas (within 50kms of a city with at minimum 25,000 inhabitants)
    • Generally speaking, the property will have to meet standard Canadian underwriting guidelines, (required by the federal regulator)
  • The following transactions are not yet available for this offer (list is not exhaustive)
    • Refinances
    • Properties worth more than $1M
    • Pure rental properties
    • Properties of 4 units or more
    • Other conditions apply, nesto has the right to refuse transactions at its sole discretion. In such instances, nesto will provide a rationale

Why will nesto only consider Top Banks offers for its Low Rate Guarantee? 

  • Banks account for approximately 80% of all mortgages originated in Canada.
  • We are on a mission to offer you the most attractive mortgages in the market – from the start, and we know this is not always the case for larger financial institutions. With this in mind, we are exclusively offering our Low Rate Guarantee for Top Banks offers.
  • What do we mean by Top Banks? The Low Rate Guarantee is in effect for mortgage offers coming directly from the following institutions (in alphabetical order): Bank of Montreal (BMO), Bank of Nova Scotia (Scotiabank), Canadian Imperial Bank of Commerce (CIBC), Desjardins (Note Desjardins in a Credit Union and not a Bank), HSBC, Laurentian Bank, National Bank of Canada (NBC), Royal Bank of Canada (RBC), Toronto-Dominion Bank (TD)
  • For clarity, the Low Rate Guarantee does not apply to mortgage offers coming from mortgage brokers or financial institutions not listed above.

What do we mean by equivalent mortgage product?

  • Obviously, we are looking to compare apples to apples.
  • An equivalent mortgage product offered by another lender must have similar features to the nesto mortgage offer. Features include but are not limited to:
    • Pre-payment options
    • Assumability, Portability
    • Penalties
    • Restrictions
  • Once your other lender’s formal mortgage rate offer has been uploaded, nesto will review it in detail and contact you to discuss the options available for nesto equivalent products.

How do I submit a formal mortgage rate offer that I have received?

  • Within five (5) calendar days from the date that you receive email confirmation that your mortgage has been submitted to underwriting (submitted to lender), you are free to explore other options with other lenders. This is when your rate is locked with nesto.
  • If during that period you have secured a formal mortgage rate offer from another lender for an equivalent mortgage product:
    • (i) You will have to submit this formal mortgage rate offer in your nesto document center (login). Upload your other lender’s formal mortgage rate offer under the Mortgage Documents.
    • (ii) You must also alert your dedicated nesto Mortgage Expert of the offer you have received within this five (5) calendar day period for him/her to review and propose other possible nesto solutions.
    • Failure to alert your dedicated nesto Mortgage Expert within the five( 5) calendar days’ time limit will void the nesto Low Rate Guarantee.
  • What is a formal mortgage rate offer:
    • To qualify as a formal mortgage rate offer, you will need to provide the Conditional approval secured from the other lender with details on the mortgage features (pre-payment options, penalties, assumability, portability), rate, mortgage amount, closing date.
  • What is not a formal mortgage rate offer:
    • Screenshot of mortgage rates available online.
    • Email from the other bank mortgage specialist and/or mortgage broker.
    • A mortgage offer from another lender secured BEFORE you received an offer from nesto.
    • nesto reserves the right to disqualify a formal mortgage rate offer at its sole discretion if the desired requirements are not met.

Why five (5) calendar days to find a better mortgage rate?

  • Starting at the time we secure your rate at nesto, we will invest significant resources to work on your mortgage file.  Such resources include: appraisal fees, time from our underwriting team, time from our funding team, legal fees.
  • With five (5) calendar days (starting from the date that you receive the nesto approval and rate lock), we wish to give you sufficient time to explore your options, while also making sure that we don’t invest all our resources in vain.

How will I receive the $500?

  • If nesto cannot match or beat the other lender’s mortgage rate offer that you have secured, you will be eligible for the $500 (assuming you meet the eligibility criteria)
  • The $500 will be sent directly to your bank account via an e-transfer
  • When will I receive the $500?
    • nesto will initiate the money transfer upon receipt of proof that you have successfully funded your mortgage at the exact terms of the offer you submitted to nesto (closing date, mortgage amount, rate, features, etc.)
      • Proof includes, but is not limited to: copy of new mortgage approval. Details on the mortgage product features.
      • Proof must be received within 7 calendar days of your mortgage funding date
    • Expect 5-15 business days for processing of the money transfer to your bank account

How long is the Low Rate Guarantee valid for?

  • The Low Rate Guarantee program is live as of April 18th 2022
  • Like any incentive programs in force, nesto reserves the right to modify and/or cancel this Low Rate Guarantee at any time, at its sole discretion

Why is it that the nesto Low Rate Guarantee does not apply to a mortgage offer secured elsewhere prior to speaking with a nesto Mortgage Expert?

  • The mortgage market is a volatile environment. Every week, nesto makes modifications to its mortgage rates in accordance with the markets.
  • From the moment a nesto Mortgage Expert secures a rate for its client, nesto will hedge the risk and will be in a position to offer the Low Rate Guarantee.
  • Unfortunately, it is impossible for nesto to go back in time on mortgage rates that are no longer available – hence why offers secured elsewhere prior to speaking with a Mortgage Expert at nesto do not qualify for this Low Rate Guarantee.

nesto reserves the right, in its sole discretion, to terminate the Low Rate Guarantee, in whole or in part, and/or modify, amend or suspend the Low Rate Guarantee, and/or the terms and conditions in any way, at any time, for any reason without prior notice. 

All issues and questions concerning the construction, validity, interpretation and enforceability of the terms and conditions or the rights and obligations as between the entrant and nesto in connection with the Low Rate Guarantee shall be governed by and construed in accordance with the laws of the province of Québec.