Home Trust Mortgage Review 2025
Home Trust mortgages: Our quick take
Home Trust may be a good fit if traditional mortgage providers aren't an option for you.
Who is a Home Trust mortgage best for?
Home Trust is best suited for borrowers with lower credit score or non-traditional employment situations that might make it difficult to get a mortgage at a mainstream lender.
Who's eligible for a Home Trust mortgage?
Qualifications for a Home Trust mortgage aren’t clearly laid out on its website, though it does say that its criteria may be less stringent than those of other lenders. Generally, eligibility criteria include:
Minimum credit score: Home Trust's website states that there is no credit score minimum for its Classic Mortgage. You’ll need to get in touch with a broker or fill out the application to better understand if your score will qualify
Income: Varies based on the type of mortgage, type of income and other criteria.
Down payment amount: You’ll need a down payment of 5% on a property that costs less than $500,000. To buy a property that costs between $500,000 and $1.5 million, you’ll need 5% of the first $500,000 and 10% of the remainder. These mortgages will require mortgage insurance. For a property that costs $1.5 million or more, you’ll need 20%.
Debt service ratios: For a Classic Mortgage, Home Trust lists its the GDS/TDS requirement is listed as “flexible.”
Employment history: Home Trust states that it "specializes in mortgages for business-for-self applicants." You will have to speak to a customer service representative or a mortgage broker to see if you qualify.
What types of mortgages does Home Trust offer?
Home Trust’s lists the following available mortgages on its website:
Fixed-rate mortgages.
Mortgage renewals.
Mortgage refinances.
Home equity line of credit, available in the form of the Home Trust EquityLine Visa card.
Mortgages for newcomers to Canada.
Rental property mortgages.
Mortgages for self-employed individuals.
How do Home Trust's mortgage rates compare?
You can see how Home Trust's mortgage offers stack up against bank and non-bank lenders on the following pages.
Review of Home Trust mortgage features
NerdWallet Canada's editorial team sifted through dozens of lender websites looking for features borrowers are interested in. Then, we summarized how each lender compares to its competitors using the labels "limited," "standard" or "excellent."
To see the details that led to each summary, expand the box below each entry.
Special offers available
LIMITED
Home Trust doesn't share any special rates online.
Why this might matter for you: Special rates can be a window into the types of rates you'll actually get from a lender. It's frustrating when one lender clearly displays them online and another doesn't.
Why this might not matter: If you work with a mortgage broker, they're the ones who will gather rate information. Also, because every mortgage offer is unique to the applicant, a special rate you see may not reflect the rate a lender will offer you.
Term length options
LIMITED
Home Trust advertises five fixed rates on its website.
Why this might matter for you: Some borrowers need financing for an unusual amount of time (six months, six years or 25 years, for example).
Why this might not matter: If you intend to get a standard three- or five-year term, having access to less common terms doesn't matter as much.
Expand for details
Home Trust offers the following mortgage terms:
1-year fixed
2-year fixed
3-year fixed
4-year fixed
5-year fixed
Prepayment limit
EXCELLENT
Home Trust has good prepayment privileges. You can pay up to 20% of your original mortgage amount each year without penalty. That’s better than some of Canada’s biggest banks, which offer 10% prepayments, but not quite as generous as those who allow you to prepay up to 25%.
You can also increase your mortgage payment as a form of prepaying, but only on some of Home Trust's mortgage types. If you have its Accelerator mortgage, you can increase your monthly payment by up to 20% without triggering any prepayment charges. If you have its Classic Mortgage, you won't have this option.
Why this might matter for you: Paying off a mortgage early is a goal many homeowners have. The bigger your lender's lump-sum prepayment limit, the more flexibility you'll have.
Why this might not matter: If you don't expect to have funds available for prepayments, this limit is irrelevant.
What it’s like to apply at Home Trust
Home Trust has an online application. It doesn’t offer pre-qualification or pre-approval. You can also contact the lender directly or speak with a mortgage broker.
Expand to preview online application
Navigate to the Home Trust website and click on “Financing A Home.” On the next page, you’ll be able to start the application process by clicking the “Apply now” button.
Once you’ve set up a Home Trust client account, you’ll be asked a series of questions. You’ll start by providing details about the home you hope to buy, including the:
Purchase price.
Address.
Closing date.
Provide details about the property you’re purchasing. These questions get very specific, so prepare to provide information regarding the home’s:
Square footage.
Garage size.
Heating and sewage type.
Annual property taxes. monthly maintenance fees and heating and electricity costs.
Insurance and management fees.
Occupancy type and whether the property will generate any rental income.
<br>Update the personal information for anyone who will be taking part in the application, including:
First-time home buyer status.
Marital status and whether you have any dependents.
Address, Social Insurance Number and language preference.
Your current residence (and other places you’ve lived if you haven’t been in your home very long).
Enter financial information about yourself and anyone else applying for the mortgage with you, including:
Employment and income.
Assets.
Liabilities.
Other properties you own.
Confirm the details of your application, consent to a credit check and you’re all done.
About NerdWallet mortgage reviews
When the NerdWallet Canada editorial team reviews a mortgage lender, we look for the options it offers customers, transparency in advertising, ease of application and flexibility it offers mortgage-holders.
Of course, a mortgage is a highly personalized product. The offer you receive depends on the details of your financial situation. A lender may have a less-than-transparent website but offer you a great rate.
Use this review to familiarize yourself with this mortgage lender. To get the best mortgage rate, work with a mortgage broker or negotiate directly with multiple lenders.
DIVE EVEN DEEPER
Beth Buczynski
Clay Jarvis
Clay Jarvis