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Mortgage rules not fitting your life? Here’s a more flexible option
The product offers a 40-year amortization, 20% annual prepayment privileges and a 2-year fixed term for borrowers with complex income.
- True North Mortgage launched Compass Mortgage, an alternative product offering flexible financing for Canadian homeowners whose income sources fall outside traditional prime lending models.
- CEO Dan Eisner reported a 71% year-over-year increase in True North clients seeking alternative solutions in 2025, revealing demand for mortgages fitting 'actual income sources' and complex financial realities.
- Key features include a 2-year fixed-rate term, 40-year amortization, and a 20% annual prepayment privilege, available for uninsured mortgages requiring a minimum principal of $100K.
- Borrowers can use this short-term solution as a bridge loan or to access refinance funds for outstanding CRA payments, though the product is not built for those with significant credit challenges.
- Designed by True North's in-house lender THINK Financial, the product positions the brokerage to serve clients who do not fit neatly into Big Banks' rigid lending models.
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15 Articles
15 Articles
InnisfilToday.ca+11 Reposted by 11 other sources
Mortgage rules not fitting your life? Here’s a more flexible option
As households lean on more income sources, some mortgage lenders are catching up.
·Innisfil, Canada
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Coverage Details
Total News Sources15
Leaning Left14Leaning Right0Center0Last UpdatedBias Distribution100% Left
Bias Distribution
- 100% of the sources lean Left
100% Left
L 100%
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