Tangerine Mortgage Review 2025

Mar 4, 2025

Tangerine is an online-only bank that offers standard mortgage options and flexible portability terms.

Written by Kurt Woock

Lead Writer & Content Strategist

Edited by Beth Buczynski

Head of Content, New Markets

Written by Kurt Woock

Lead Writer & Content Strategist

+ 1 more

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own.

Tangerine mortgages at a glance

Tangerine is an online bank that offers purchase, refinance and renewal mortgages to Canadians across the country.

Online-only bank — no brick-and-mortar locations.
Port your mortgage without penalty if you move.
Has been in business for more than 20 years.

Pros

Penalty-free porting.
Lump sum pre-payment limit higher than some big banks.
Programs for newcomers to Canada.

Cons

Fewer specialty mortgage types than you can find elsewhere.
Limited rate information available online.
You must create an account on Tangerine to preview the online application.
No in-person locations.

Tangerine mortgage review

Tangerine is an online bank that offers mortgages alongside other traditional banking products, like savings, chequing and credit cards. It doesn’t serve clients in physical locations.

Tangerine is a standalone bank — it’s a CDIC member — but is owned by The Bank of Nova Scotia. It offers fixed-rate mortgages with terms ranging from one to 10 years as well as a five-year variable mortgage. If you move before your mortgage is up, you can port your loan amount and current rate without penalty.

If you’re looking for something more niche, such as a convertible mortgage or an open mortgage, you may need to look elsewhere.

Who is a Tangerine mortgage best for?

Tangerine may be a good choice for home buyers or refinancers who prefer an online-only experience, or who are seeking a portable mortgage.

Feature overview

Variety of mortgages available

Fixed-rate mortgages.
Variable-rate mortgages.
Home equity lines of credit.
Renewals and refinances.
Portable mortgages.
Mortgages for newcomers to Canada.
Mortgages for rental properties.
Mortgages for self-employed people, or those with non-traditional income sources.

View current Tangerine mortgage rates

Ease of application

Tangerine doesn’t have an in-person application option; they conduct business online or over the phone. You can begin the mortgage application process yourself, but you’ll have to sign up to be a Tangerine client first — an extra step compared to other lenders.

Online pre-qualification: No. Online pre-qualification is not an option.
Online pre-approval: No. We couldn’t find an online pre-approval on Tangerine’s website.
Online mortgage application: Yes. Tangerine has an application online, but you can’t start it unless you set up a client account first.
In-person option: No. Tangerine does not have branch locations.

Mortgage rate transparency

Tangerine’s website is less transparent than most mortgage lenders we’ve reviewed. It doesn’t publish special rates online, and its website only has one APR listed. You may be able to get this information by contacting Tangerine, but it’ll take more work on your part.

Posted rates: Tangerine has posted rates for variable and fixed mortgages listed on its website.
Special rates: Tangerine doesn’t share discounted rates on its website.
APR: Tangerine’s website only includes an annual percentage rate for its 5-year fixed mortgage.

Other details

Increase your payments: You can increase your standard payment by up to 25% without penalty. This is a lower limit than you’ll find at many other lenders. For example, RBC and TD each have a payment-increase limit of 100%.

Make lump-sum payments: You may be able to pay down up to 25% of your original loan amount on some fixed-rate closed mortgages up to once per year. This is a higher limit than you’ll find at many other lenders. For example, RBC and TD let you pay an additional 10% and 15%, respectively.

Range of terms: Tangerine lists rate terms of one year through 10 years.

Rate hold: If you’re pre-approved, Tangerine will hold your rate for up to 120 days, which is standard in the mortgage industry.

Penalty-free porting. If you move before your mortgage is up, you can transfer your current rate, term and amount to your new home without paying a penalty.

Programs for newcomers: Newcomers to Canada (less than five years) with limited or no credit history may be able to get a mortgage with Tangerine.

Customer satisfaction ratings

Customer review websites can be helpful, but keep in mind that the reviews aren’t verified and may not accurately reflect the average option of Tangerine customers; for example, unhappy customers may be overrepresented in these reviews. Nevertheless, these sites are one way to learn about possible downsides to consider.

Tangerine had a Trustpilot rating of 1.3 out of 5 possible stars based on more than 1,600 total customer reviews, as of the time of this writing. Feedback on Trustpilot wasn’t limited to mortgages; it included many responses about other products, such as credit cards.
Tangerine had a rating of 1.06 out of 5 possible stars based on just over 80 reviews on the Better Business Bureau website, at the time of this writing. None of the recent BBB comments mentioned mortgages specifically.

Eligibility requirements

To be eligible for a mortgage with Tangerine, you must:

Be a resident of Canada.
Use the mortgage to purchase a residential property in Canada.
Be able to provide information as requested, such as proof of income or consent to check your credit score.

🤓Nerdy Tip

Use a mortgage affordability calculator to determine how much you can afford to pay for a home. If you have a unique situation or need additional information about the eligibility requirements, it’s best to speak directly with a mortgage specialist.

How to apply with Tangerine

Begin the application process on Tangerine website by clicking one of the “Apply now” buttons, which can be found throughout the mortgage pages on the site.
Next, you’ll need to sign in if you already have an account with Tangerine or create one if you don’t.
You can download Tangerine’s mobile app to create an account, or you can do so online.
After you’ve applied, a Tangerine mortgage representative will be assigned to you and should be able to address your home financing questions.