nesto Mortgage Rates & Reviews

This Page's Content Was Last Updated: December 29, 2022
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Launched in May 2018 and headquartered in Montreal, nesto is the first 100% digital mortgage finance company to operate in Canada. Powered by technology, nesto finds the best mortgage rates using its powerful algorithms and allows you to complete your mortgage application completely online. Convenience, speed, and low rates have led over 210,000 Canadians to work with nesto on their new mortgages, mortgage renewals, and refinancing.

While nesto is a digital mortgage lender, they have a strong presence across the country. nesto’s low mortgage rates are available in most provinces, and they also have over 250 mortgage experts and team members. Plus, nesto’s mortgage experts are salaried and they don’t work for commission. This means that they are here to help you get the best rates, no matter the lender!

Best 5-Year Fixed Mortgage Rates in Canada CanadaLeaf
Mortgage Term:

nesto Fixed Mortgage Rates

If you're looking for a mortgage with predictability and stability, a nesto fixed-rate mortgage may be the right choice for you. With a nesto fixed-rate mortgage, you'll know exactly how much your mortgage payments will be for your entire term length – whether it's 3 years, 4 years, or 5 years. Plus, if interest rates happen to increase during your term, you'll still benefit from your contracted lower rate (as opposed to having a variable mortgage rate). This is increasingly becoming the case as interest rates rise in Canada. The most popular type of mortgage in Canada also happens to be the 5-year fixed-rate mortgage.

Termnesto RateCanada's Lowest Rate

The rates shown are for insured mortgages with a down payment of less than 20%. You may get a different rate if you have a low credit score or a conventional mortgage. Rates may change at any time.

nesto Variable Mortgage Rates

Variable mortgage rates are usually lower than fixed mortgage rates. For borrowers looking for the absolute lowest mortgage rate in Canada, nesto’s 5-year variable mortgage can offer a significant discount today compared to a fixed-rate mortgage. However, variable mortgage rates depend on the prime rate. As interest rates rise, your nesto variable mortgage rate will rise too.

While a variable mortgage rate from nesto may offer a lower interest rate than a fixed-rate mortgage in the short-term, it’s important to consider how changes in the prime rate can affect your budget in the long-term. If you’re considering a variable mortgage rate, be sure to speak with a nesto mortgage expert to learn more about how changes in the prime rate can affect your monthly payments.

Termnesto RateCanada's Lowest Rate

The rates shown are for insured mortgages with a down payment of less than 20%. You may get a different rate if you have a low credit score or a conventional mortgage. Rates may change at any time.

nesto Mortgage Features

An exciting feature that nesto offers is the ability to lock-in your mortgage rate for up to 120 days. nesto has also previously held promotions that allowed certain mortgage rate options to lock-in a mortgage rate for up to 150 days. When offered, this is the longest rate hold in Canada!

The entire mortgage application process, whether it’s being pre-qualified, pre-approved, or for being approved for a mortgage, can be done virtually. This even includes uploading your documents online, such as photo ID and a void cheque. You will still need to speak with a nesto mortgage expert in order to continue your application.

For newcomers to Canada, nesto’s New to Canada program allows newcomers with at least three months of full-time employment to potentially qualify for a mortgage with a down payment as low as 5% for properties less than $500,000, or 5% on the first $500,000 and 10% on the portion above $500,000, up to a maximum home value of $1 million. This program allows newcomers to qualify for a mortgage without having a Canadian credit report. Instead, newcomers can use their international credit report or provide alternative sources of credit or a letter of reference. While nesto finances residential properties and even rental properties, nesto does not finance mobile homes, land purchases, or owner-built homes.

Big Moves for nesto

nesto had lots of changes in store in December 2022, which included the launch of their Mortgage Cloud software, a new partner, and raising funds.

nesto's Mortgage Cloud software is for other financial institutions to use nesto technology to offer their own mortgage solution, from borrowers applying for a mortgage right through to underwriting. It allows for co-branded solutions, where nesto funds and closes the mortgage, or for white-label solutions where the lender itself funds the mortgages.

One new partner for nesto that will use this new software service is Investors Group Wealth Management (IGWM). While Investors Group will still fund their own mortgages, they will now use nesto's Mortgage Cloud software to distribute and service mortgages to customers.

nesto is continuing their partnership with Equitable Bank. However, nesto is now also focusing on funding their own mortgage deals. That's a significant difference compared to when they used third-party lenders as a mortgage brokerage.

A final big news coming from nesto is the completion of a Series C round in December 2022, where they raised $80 million from investors that include venture capital firms affiliated with Power Financial.

Contacting nesto

Being 100% digital means that you won't be able to go to a physical branch, however, nesto makes it easy to contact support by phone at 1-877-660-4432 or by email at

This calculator is provided for general information purposes only. WOWA does not guarantee the accuracy of the information shown and is not responsible for any consequence that arise from the use of the calculator and its results. Any financing products shown are subject to terms and conditions and may not be available in certain regions.