Tangerine Mortgage Rates 2025 — Review

About Tangerine Mortgages

Tangerine Bank (owned by Scotiabank) is Canada's leading digital bank, known for no-fee banking, competitive savings rates, and a streamlined online experience. Tangerine offers residential mortgages with competitive rates, leveraging its digital infrastructure to offer lower overhead costs than traditional branch banks.

Tangerine Fixed Rate Mortgages

Tangerine offers fixed rate closed mortgages with terms from 1 to 5 years. Their rates are typically competitive with other digital lenders and below Big 6 bank posted rates. Standard features include 25-year maximum amortization for insured mortgages and up to 30 years for conventional.

Tangerine Variable Rate Mortgages

Tangerine's variable rate mortgages fluctuate with Tangerine Prime Rate. Their variable offerings are competitive and include the option to lock into a fixed rate at any time without penalty — a valuable feature for borrowers uncertain about the rate direction.

Tangerine Prepayment Privileges

Tangerine mortgages typically allow annual lump-sum prepayments and payment increases within standard limits. The ability to make additional payments without penalty allows borrowers to accelerate their mortgage paydown when funds are available.

Tangerine Mortgage Application Process

The Tangerine mortgage application is fully online. Existing Tangerine customers benefit from pre-populated application data and streamlined verification. The digital process is best suited for straightforward purchases and refinances with T4 employment income.

Tangerine vs. Competitors