Get an extra 0.05% rebate on your mortgage payment for every $50K you transfer. T&Cs apply.

With our partner, Pine

Mortgage rates that are pretty great

Get a low rate through Pine and cash rebates from us. Because the more you have with Wealthsimple, the less you’ll spend on your mortgage payments.

Like a regular mortgage — but better

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.

Added savings

Eligible clients get a base rebate of up to 0.15% on their mortgage payments. Plus, the more money you transfer, the more your rebate grows.

Faster approvals

Get your personalized rate without the wait. No paperwork or in-person appointments required. Just apply online to complete the process in minutes.

Total savings calculator

Curious to know what you could make in rebates? Estimate your combined savings by moving the transfer slider and selecting your client status.

Transfer amount

Apply and get approved by August 31 to receive an additional 0.05% rebate for every $50,000 you transfer to Wealthsimple.

Rebate:

0.00%

$0

Client status

Every funded Wealthsimple client automatically receives a base rebate, subject to their client status. Core clients get a 0.05% rebate, Premium clients get a 0.10% rebate, and Generation clients get a 0.15% rebate.

Rebate:

0.00%

This tool is solely for demonstrative purposes and does not represent the maximum savings. Your total cash back may differ based on the approved mortgage rate, transfer amount, and terms.

0.00%

Wealthsimple rebate

That's $0 cash back every month for a total savings of $0 over a 5year term.

This calculation is based on a fixed rate of 5% on a $500,000 loan, amortized over 25 years.

This tool is solely for demonstrative purposes and does not represent the maximum savings. Your total cash back may differ based on the approved mortgage rate, transfer amount, and terms.

Wealthsimple clients get even more

Having all your investments in one place means spending less on your mortgage payments. Get an exclusive rebate based on your client status. T&Cs apply.

$1 in assets

0.05%

Core rebate

$100,000 in assets

0.10%

Premium rebate

$500,000 in assets

0.15%

Generation rebate

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.

Portrait of a Pine agent

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, the saving begins! Rebates are deposited into your Wealthsimple Cash account monthly to help with your payments.

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)

  • Fixed rate - 1, 2, 3, 4, 5 yr term + 25 yr amortization period

  • Adjustable Rate Mortgage (ARM) - 5 yr term + 25 yr amortization

  • Refinances do not qualify for mortgage insurance

  • Pre-approval available

Uninsured Mortgage – purchase & switch/renew (property value >$1M)

  • Fixed rate - 5 yr term + up to a 30 yr amortization period

  • Adjustable Rate Mortgage (ARM) - 5 yr term + 25 or 30 yr amortization

  • Refinance available

  • Pre-approval not available

Here are some other things to consider with Pine's mortgage products:

  • Pine offers a minimum mortgage value of $100,000.
  • 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 and mortgages for investment or second properties, these aren't 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:

  • For closed fixed-rate mortgages, the penalty to break is equal to the greater of the interest rate differential, or 3 months' interest

  • 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.

New and existing Wealthsimple clients are eligible to receive a mortgage rebate with Pine. The discount is applied through a mortgage rebate that’s paid out as a cash sum in your Wealthsimple Cash account every month until the end of the initial mortgage term (up to 5 years).

The discount rate takes into account both the tier rebate and the deposit rebate. Check out this help centre article to learn more about how the Wealthsimple x Pine mortgage rebate works, eligibility and promotion related questions.

You can read the full eligibility and T&Cs for the client rebate here and the transfer rebate here.