True North Mortgage

What True North Mortgage does

True North Mortgage is a Calgary-headquartered, founder-owned Canadian mortgage brokerage founded circa 2004 by Dan Eisner, operating as a national direct-to-consumer intermediary that places borrower mortgages with a panel of institutional and alternative lenders. The company runs an omnichannel distribution platform comprising 12 physical retail stores across Canada (Calgary, Toronto, Vancouver, Edmonton, Halifax, Montreal via TNM Hypothèque, Mississauga, Windsor), a digital application platform delivering 9-minute pre-qualification with 120-day rate holds, toll-free contact centers, mobile brokers who travel to clients, and a chatbot (Morgan) for text-based inquiries. The broker model is differentiated by a salaried, non-commissioned workforce intended to eliminate lender-conflict bias.

The product platform spans standard purchase and renewal mortgages, refinances, HELOCs, reverse mortgages, and a deep catalog of specialized offerings: Rate Relief® (short-term fixed-rate product), Compass Mortgage™ (alternative-lending product for complex-income borrowers launched 2024), No Commitment® open mortgage, cash-back mortgages, purchase-plus-improvements, investment and vacation property financing, self-employed and newcomer-to-Canada programs, and a Sharia-compliant Halal Mortgage. In 2016 the firm became the first Canadian mortgage brokerage to obtain CMHC-approved lender status through wholly-owned subsidiary THINK Financial, providing in-house origination capability, adjustable-rate mortgages with semi-annual compounding, and lower penalty calculations relative to posted-rate lenders. Supporting technology includes mortgage calculators, a digital renewal reminder, and educational content.

The business model is freemium to consumers (no fees or commissions charged to borrowers) with revenue earned as lender-side finders fees and, via THINK Financial, lender-side net interest margin. The firm claims over $34 billion in cumulative mortgages arranged, more than 16,000 five-star reviews, rates 0.18% lower than competitors on average, and average client savings of over $3,000 on pre-approval. The company is regulated by FSRA (Ontario, license #12700) and is privately held with no disclosed institutional investors.

Name

True North Mortgage

Legal name

True North Mortgage Inc.

Website

https://truenorthmortgage.ca

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

101–250 employees

Short description

True North Mortgage is a Calgary-based, founder-owned Canadian mortgage brokerage serving individual homebuyers nationwide via 12 retail stores, online, mobile, and phone channels, placing mortgages with multiple lenders and operating in-house CMHC-approved lender THINK Financial since 2016.

Ownership category

akta.pro rank

Product category

Mortgage Brokerage Services

NAICS

Mortgage and Nonmortgage Loan Brokers (522310), Real Estate Credit (522292)

SIC

Loan Brokers (6163), Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Retail Residential Mortgage Brokers (Purchase & Refinance) (FSALABAA)

akta.pro secondary industries

Residential Mortgage Brokerage (Purchase & Refinance) (FSAEAEAA), Residential Mortgage Origination & Servicing (Retail) (FSABAAAD)

Keywords

• Mortgage brokerage services
• Home loan products
• Mortgage refinancing solutions
• First-time buyer programs
• Mortgage renewal services

Headquarters

HQ city

Calgary

HQ country

Canada

HQ region

North America

Offices8 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Mortgage Brokerage Services: True North Mortgage operates as a mortgage brokerage earning revenue from lenders for placing mortgages. They pass volume discounts to clients, sometimes buying down rates to save clients money. Service is free to clients with no fees charged for advice or placement.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

True North Mortgage is a national Canadian mortgage brokerage that arranges home loans for consumers by accessing multiple lenders (including its own CMHC-approved lender, THINK Financial). The company provides unified mortgage brokerage services across in-person stores, online, phone, mobile broker, and chatbot channels, placing clients into proprietary products such as Rate Relief®, Compass Mortgage™, and the No Commitment® open mortgage, plus renewal, refinance, and specialty programs (HELOC, reverse mortgage, halal mortgage, self-employed, newcomer, investment property).

Product overview

True North Mortgage operates as a national mortgage brokerage offering a unified platform of mortgage products and services. The core offerings include Rate Relief® (short-term fixed-rate mortgage for budget relief), Compass Mortgage™ (alternative flexible approval product), and access to in-house lender THINK Financial. The company provides a comprehensive suite of mortgage solutions spanning purchase mortgages, renewals, refinancing, and specialized products for first-time buyers, self-employed individuals, newcomers, and investment properties. Services include HELOCs, reverse mortgages, and halal mortgages. The company differentiates through salaried non-commissioned brokers, volume discounts, physical store locations across Canada, and digital tools including calculators and a chatbot (Morgan). THINK Financial serves as the CMHC-approved in-house lending arm, while the No Commitment® Mortgage provides open mortgage flexibility.

Differentiator

Problem solved

Functional benefit

Brands

• Compass Mortgage: Alternative mortgage product designed for greater approval flexibility for applicants who don't fit traditional lending criteria, considering non-traditional income sources, extended income ratios, and complex financial situations.
• Rate Relief
• No Commitment Mortgage

Products and services

• Rate Relief® Short-term fixed-rate mortgage product offering 6 months of budget relief, allowing clients to lock into a low rate and a flexible mortgage for their next term. Marketed from 2.49% starting rate. Targeted at Canadian homeowners needing near-term payment relief.
• Compass Mortgage™ Alternative mortgage product providing greater approval flexibility for borrowers who don't fit traditional lending criteria, including those with non-traditional income sources, extended income ratios, and complex financial situations.
• THINK Financial (In-House Mortgage Lending) True North Mortgage's in-house CMHC-approved mortgage lender, offering flexible products including adjustable variable-rate mortgages with semi-annual interest compounding, lower penalty calculations based on market (rather than posted) rates, and faster pre-approvals for clients who don't fit traditional bank criteria.
• No Commitment® Mortgage Open variable-rate mortgage with semi-annual interest compounding, offering flexibility with no long-term commitment requirement. Offered through THINK Financial and broker channels.
• Mortgage Pre-Qualification and Pre-Approval Service Self-serve or broker-assisted pre-qualification delivering a clear picture of affordability, a rate hold for up to 120 days, and expert broker guidance through the application — completable online in about 9 minutes.
• Mortgage Renewal and Switch Service End-to-end renewal and lender-switch service helping Canadian homeowners secure better rates at term end, backed by the firm's beat-it-or-$500 lowest-rate guarantee.
• Mortgage Refinancing Refinancing solutions helping homeowners access home equity, consolidate debt, or secure a lower rate via multi-lender comparison.
• Complex Mortgage Solutions Customized mortgage solutions for borrowers facing divorce, credit challenges, complex income sources, and other non-standard circumstances that traditional banks decline. Leverages Compass Mortgage and THINK Financial.
• Self-Employed / Business-for-Self Mortgages Mortgage program offering flexible income verification options for self-employed Canadians whose stated income or corporate structure makes standard bank qualification difficult.
• Newcomers to Canada Mortgages Mortgage solutions tailored for newcomers to Canada, addressing limited Canadian credit history and providing specialized guidance on qualification programs.
• Investment Property Mortgages Mortgage solutions for investment properties with competitive rates and flexible terms tailored to rental-income underwriting.
• Vacation and Secondary Home Mortgages Mortgage financing for vacation homes and secondary residences across Canada.
• Purchase Plus Improvements Single-mortgage financing combining home purchase with renovation funds, allowing borrowers to roll improvement costs into the mortgage.
• Cash Back Mortgages Cash-back mortgage option available on both variable- and fixed-rate products, providing a cash rebate at closing.
• Home Equity Line of Credit (HELOC) Secured revolving line of credit allowing homeowners to access their home equity as needed.
• Reverse Mortgage Reverse mortgage product for Canadian homeowners aged 55+, allowing access to home equity without monthly mortgage payments.
• Halal Mortgage Sharia-compliant home financing avoiding interest-based charges, structured as joint-venture partnerships, lease-to-own, or cost-plus-markup arrangements for Muslim Canadian buyers.

Quantifiable outcome

• Clients save over $3,000 on average through better rates and mortgage fit
• +2 more outcomes

Named customers8 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature4 records

Partnerships

One partnership is on record.

• THINK FinancialcoreOEM/ Whitelabel/ Licensing Partner · 1 January 2016In-house CMHC-approved lender created in 2016, making True North Mortgage the first Canadian mortgage brokerage to become an official lender. THINK Financial offers flexible mortgage products including adjustable-rate mortgages with semi-annual compounding and lower penalty calculations based on market rates rather than posted rates.

Scale indicators6 records

Recent moves9 records

Expansion highlights4 records

Direct peers

• Dominion Lending Centres: Canada's largest mortgage broker network with thousands of brokers nationwide operating under a franchise model. Directly comparable to True North as a Canadian residential mortgage brokerage, though DLC's model is network/franchise-based while True North operates corporate-owned salaried brokers and stores.
• nesto: Canadian digital-first mortgage brokerage offering online pre-approval and lender matching. Directly comparable to True North as a Canadian mortgage brokerage serving the same consumer base, though nesto competes primarily through a digital/PLG model versus True North's hybrid store-plus-digital approach.
• Pine (formerly Pineapple Financial): Canadian online mortgage brokerage providing lender-matching and digital pre-approval. Direct peer competing on technology-led convenience versus True North's hybrid in-store plus digital model, serving the same first-time buyer and refinance customer segments.
• Mortgage Architects: Canadian mortgage brokerage network with independent broker members across Canada. Directly comparable as a national Canadian residential mortgage brokerage competing for similar consumer and broker talent, though structured as a network rather than True North's corporate-employed model.
• CanWise Financial (now owned by RBC): Was a major Canadian online mortgage brokerage claiming the lowest rates model similar to True North's positioning. Direct peer in approach, though CanWise was acquired by RBC and Ratehub, illustrating the bank-vertical-integration threat to independent brokerages.

Broad incumbents

• MCAP (Mortgage Company of America / MCAP Financial Corporation): One of Canada's largest independent mortgage lenders and brokerages with broader B2B and institutional mortgage operations. Comparable as a major Canadian mortgage player with origination capabilities, though operates at a broader scale including securitization and institutional services beyond True North's consumer focus.
• RBC Royal Bank (Mortgage Division): Canada's largest bank with a major mortgage origination business directly competing with brokers. While not a brokerage, RBC's mortgage division is the primary incumbent True North competes against on rate and product, and RBC's CanWise/Ratehub acquisitions signal direct brokerage ambitions.

Emerging players

• Ratehub.ca: Canadian rate-comparison platform with mortgage brokerage capabilities (acquired by Ownly/RBC ecosystem). Partial overlap with True North as a digital mortgage channel, but primarily operates as a rate-comparison funnel rather than full-service brokerage.
• Borrowell: Canadian fintech offering credit products and mortgage services, having expanded into mortgage brokerage. Partial overlap with True North on the consumer mortgage side, but Borrowell is broader (credit monitoring, loans) and primarily digital-native versus True North's hybrid model.

Others

• LowestRates.ca: Canadian rate-comparison platform covering mortgages, loans, and insurance. Adjacent ecosystem player that funnels consumer demand toward brokerages and lenders including True North, serving as a marketing channel rather than direct competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/TrueNorthmtg
• Facebookfacebook.com/bestmortgageratescanada
• LinkedInlinkedin.com/company/true-north-mortgage

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about True North Mortgage