Will mortgage rates go down in 2024?

REPEAT HOME BUYER

Even pros need a coach, let us be yours

Selling your existing home & buying your next? Connect with a nesto mortgage expert & get a low mortgage rate today.

  • Enjoy a fast, headache-free mortgage experience start-to-finish.
  • Get a 20% lower mortgage rate than the big banks*
Speak to a mortgage expert now 1-866-656-7354

Buying your next home has never been so simple.

Get a lower mortgage rate than your bank.

Rates so good, it’ll feel like your first mortgage.

No-fee mortgage review

We know you have experience on your side, but our 300+ experts are here to help, from your down payment strategy, to accessing home equity, to porting your mortgage.

Personalized mortgages

With a variety of flexible mortgage features, we’ll find you the mortgage that best fits your life.

A fast process

Whether you’re selling & buying, or purchasing a second property, we know how important moving quickly is – think days, not weeks.

A mortgage rate that’s 20% lower than banks*? Yes.

That’s more money back in your wallet. Save up to $25,232 on your next home with nesto.*

nesto’s lowest vs Big Bank insured mortgage rates

Results

We have you covered for every type of move.

We’ve provided mortgage advice to over 400,000+ Canadians, so we understand every situation is unique. No matter what’s driving the move – whether it’s a neighbourhood change, family change or needing more space – we’re here for you. Here’s how we helped a couple buy & sell:

Sell Buy Home Packing

Goal: Selling current home and buying next home
Issue: Money left on current mortgage loan


Pierre and Jay are a dynamic couple who have been calling Montreal home for several years. They feel the need for a bit more space to accommodate their growing family.
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Are you a repeat buyer?

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Repeat Buyer FAQ

Do I have to pay a mortgage penalty if I break my current mortgage?

If you buy a new home, you must come up with the down payment and closing costs. If you don’t have the extra cash for these upfront costs or are selling your existing home to purchase a new home, you will need to payout your current mortgage. Not all mortgages are portable – they cannot be transferred to a new property to avoid being paid out. Additionally, you may not be able to qualify for the new home with your current lender. There may be a cost difference between your existing mortgage and what you would need for the new home; therefore, you will need to break your mortgage and qualify for the new mortgage – possibly with a new lender. nesto will help you examine all of your options before moving forward to ensure breaking your mortgage is in your best financial interest.

How does porting a mortgage work in Canada?

Whether you own a home and are planning to move to a new one or you are in the market for a first home with plans to move in the future, mortgage portability is something worth considering. Basically, porting your mortgage is when you transfer your current mortgage rate and terms to your new property. Not only that, portability also helps ensure that you don’t face any penalty fees.

However, it’s important to note that portability isn’t always available in all scenarios, so be sure to look into your portability options before committing to a new property.

How do I get out of a joint mortgage in Canada?

The mortgage can change if a borrower is removed as a mortgage holder, however, the remaining mortgage holder must show that they have the capacity to carry the mortgage alone.

If the property’s title has to change where either spouse is being removed then a solicitor/notary must be involved to change the title.

Depending on where the mortgage is located there are various options for the borrowers in addition to the legal aspect of removing a co-borrower from title.

Happy nesto Repeat Home Buyers

Just a few of our clients who have saved big on their second home.

Second Time Home Buyers

Not selling & buying, but have mortgage experience on your side? Here are some more real reviews by real people that might match your situation.

Vacation Home Mortgage

Goal: Work-life balance with a second home
Issue: Long commute meets long hours

Aaron sought a solution that would allow him to have a small place in Ottawa for his work weeks while returning home to Hamilton on weekends

Read more

Goal: Headache-free spousal buyout
Issue: Joint ownership during legal separation

As her partner moved out, Isabelle faced the task of determining how to buy them out of the mortgage and secure her future in the shared home

Read more

Goal: Purchase his dream home with co-signing parents
Issue: Inaccessible down payment

Charles’ parents Martin & Elaine generously gifted him $60,000 to bridge the gap and fulfill his homeownership aspirations

Read more