To make your decision easier, we’ve compared the top 10 best mortgage refinance companies in Canada for 2025, based on interest rates, approval process, customer reviews, and flexibility.
Refinancing your mortgage in Canada can be a smart financial move—especially in 2025, as interest rates fluctuate and homeowners look to save on their monthly payments. Whether you want to lower your rate, switch lenders, or tap into home equity, choosing the right mortgage refinance company is the first and most important step.
1. RBC Royal Bank
RBC continues to lead the Canadian mortgage market. Their refinancing options are ideal for those with existing RBC mortgages and they offer competitive fixed and variable rates. Their online tools and advisors make the process easy and transparent.
Best for: Current RBC clients and those looking for excellent customer service.
2. TD Canada Trust
TD offers flexible mortgage refinance options, including early renewal and lump-sum payments. Their online mortgage calculator helps estimate savings, and they often have promotional rates.
Best for: Homeowners who value in-person support and flexible terms.
3. Scotiabank
Scotiabank’s “Switch and Save” program is designed for those looking to refinance with a new lender. They sometimes cover transfer fees, and their app helps manage your mortgage easily.
Best for: People switching lenders for better rates.
4. BMO (Bank of Montreal)
BMO allows refinancing for debt consolidation, renovations, or better rates. Their refinance process is simple, and their rates are competitive in 2025.
Best for: Homeowners with equity looking to consolidate debt.
5. CIBC
CIBC offers personalized refinancing plans and often approves homeowners with various credit profiles. They also offer cashback offers on select refinancing products.
Best for: Those looking for cashback deals and flexible qualification.
6. HSBC Canada
Known for competitive international banking services, HSBC offers great refinance options with low-interest rates. Their digital process is fast and convenient.
Best for: Tech-savvy homeowners and newcomers to Canada.
7. Tangerine
Tangerine, an online bank owned by Scotiabank, provides low-cost refinancing with fewer hidden fees. Their online system is user-friendly and approval is fast.
Best for: Budget-conscious and online-friendly homeowners.
8. Manulife Bank
Manulife’s “One” mortgage combines your mortgage with a bank account, allowing for flexible repayment. It’s ideal for financially disciplined homeowners who want to pay off their mortgage faster.
Best for: Those looking for a smart all-in-one financial solution.
9. nesto
nesto is a fully digital mortgage platform offering some of the lowest refinance rates in Canada. They promise full transparency with no hidden fees.
Best for: Homeowners looking for low online-only rates.
10. True North Mortgage
True North is a mortgage broker that compares multiple lenders to find you the best refinancing deal. They often beat the big banks in terms of rates.
Best for: Rate shoppers and those looking to compare options quickly.
Final Thoughts
Refinancing your mortgage can save you thousands of dollars over time—but only if you choose the right lender. The companies listed above are trusted across Canada for their rates, service, and transparency in 2025.
Before you decide, always:
- Compare interest rates
- Check prepayment options
- Understand the total cost (including penalties or fees)
- Consult a mortgage advisor if needed
No matter your financial goal—lower payments, faster mortgage freedom, or tapping into your home’s equity—there’s a refinance company in Canada that fits your needs.
Need help choosing? Speak with a licensed mortgage broker in Canada to get expert advice tailored to your situation.
