Investment-property rates across 15 Canadian lenders. Big 6 banks, monoline brokers, credit unions, and digital lenders — sorted lowest first. Surcharges for rental properties already baked in.
| Lender | Type | Product | Rate |
|---|---|---|---|
| MCAP | Monoline (broker channel) | 3-year fixed | 4.89% +25 bps inv. |
| First National | Monoline (broker channel) | 3-year fixed | 4.94% +25 bps inv. |
| MCAP | Monoline (broker channel) | 5-year fixed | 5.04% +25 bps inv. |
| Simplii Financial | Digital lender | 3-year fixed | 5.04% +30 bps inv. |
| First National | Monoline (broker channel) | 5-year fixed | 5.09% +25 bps inv. |
| CMLS Financial | Monoline (broker channel) | 5-year fixed | 5.14% +25 bps inv. |
| EQ Bank | Digital lender | 5-year fixed | 5.14% +25 bps inv. |
| RBC Royal Bank | Big 6 Bank | 3-year fixed | 5.19% +30 bps inv. |
| TD Canada Trust | Big 6 Bank | 3-year fixed | 5.19% +35 bps inv. |
| BMO | Big 6 Bank | 3-year fixed | 5.19% +30 bps inv. |
| CIBC | Big 6 Bank | 3-year fixed | 5.19% +35 bps inv. |
| Scotiabank | Big 6 Bank | 3-year fixed | 5.24% +30 bps inv. |
| Meridian Credit Union | Credit Union | 5-year fixed | 5.24% +25 bps inv. |
| Vancity | Credit Union | 5-year fixed | 5.24% +25 bps inv. |
| Tangerine | Digital lender | 5-year fixed | 5.24% +30 bps inv. |
| Simplii Financial | Digital lender | 5-year fixed | 5.24% +30 bps inv. |
| Desjardins | Credit Union | 5-year fixed | 5.34% +30 bps inv. |
| National Bank | Big 6 Bank | 5-year fixed | 5.39% +35 bps inv. |
| MCAP | Monoline (broker channel) | 5-year variable | 5.4% +30 bps inv. |
| RBC Royal Bank | Big 6 Bank | 5-year fixed | 5.44% +30 bps inv. |
| TD Canada Trust | Big 6 Bank | 5-year fixed | 5.44% +35 bps inv. |
| BMO | Big 6 Bank | 5-year fixed | 5.44% +30 bps inv. |
| CIBC | Big 6 Bank | 5-year fixed | 5.44% +35 bps inv. |
| First National | Monoline (broker channel) | 5-year variable | 5.45% +30 bps inv. |
| Scotiabank | Big 6 Bank | 5-year fixed | 5.49% +30 bps inv. |
| CMLS Financial | Monoline (broker channel) | 5-year variable | 5.5% +30 bps inv. |
| EQ Bank | Digital lender | 5-year variable | 5.5% +30 bps inv. |
| Meridian Credit Union | Credit Union | 5-year variable | 5.6% +30 bps inv. |
| Vancity | Credit Union | 5-year variable | 5.6% +30 bps inv. |
| Tangerine | Digital lender | 5-year variable | 5.6% +35 bps inv. |
| Desjardins | Credit Union | 5-year variable | 5.7% +35 bps inv. |
| National Bank | Big 6 Bank | 5-year variable | 5.75% +40 bps inv. |
| RBC Royal Bank | Big 6 Bank | 5-year variable | 5.8% +35 bps inv. |
| TD Canada Trust | Big 6 Bank | 5-year variable | 5.8% +40 bps inv. |
| BMO | Big 6 Bank | 5-year variable | 5.8% +35 bps inv. |
| CIBC | Big 6 Bank | 5-year variable | 5.8% +40 bps inv. |
| Scotiabank | Big 6 Bank | 5-year variable | 5.85% +35 bps inv. |
Lenders price rental mortgages 25-50 basis points above owner-occupied because tenants default at higher rates than homeowners and CMHC insurance is rarely available. Some monoline lenders specialize in rentals and offer the smallest surcharge.
Yes — most monoline lenders count 80-100% of expected rent toward your gross debt service ratio. Big 6 banks tend to count only 50-80%, so brokers often place rental deals with monoline lenders for better qualification.
With the BoC in a cutting cycle, variable rates are biased to decline through 2026. But variable means payment swings — if cashflow margin is tight, fixed gives certainty. Use Mark's recommender below to model your specific scenario.
20% on properties up to $1M (no CMHC for rentals), and 25-35% above $1M depending on lender. Some credit unions are flexible on this — they look at the deal economics not just the percentage.