Star Metro - True North Mortgage Launches Alternative Mortgage Solution for Canadians Who Don't Fit Traditional Lending Rules

CALGARY, AB / ACCESS Newswire / March 31, 2026 / True North Mortgage today announced the launch of Compass Mortgage^™, a new alternative lending product designed to provide greater flexibility for Canadians who fall outside traditional prime lending criteria, as more borrowers face tighter qualification requirements and changing income sources.

The new product supports a growing segment of homebuyers and homeowners whose financial profiles don't fit neatly with conventional underwriting. The share of True North clients choosing alternative or private lender products increased from 7% in 2024 to 12% in 2025 (+71% year over year), based on client placements. According to CMHC's latest Residential Mortgage Industry Report, alternative and non-bank lenders account for roughly 10% to 15% of new mortgages in Canada.

Those who can benefit from this product include households with non-traditional income, more complex financial situations, or a need for extended income qualifying ratios to access or maintain their home financing.

Households are relying on diversified income sources

Canadians are relying on more than just a paid job to cover their mortgage payments, with households often drawing from a mix of income sources to stay on track. According to a recent survey by True North Mortgage conducted by Angus Reid, while 73% of mortgage-holding respondents used primary employment income to make their mortgage payments, many also reported using additional sources, such as self-employment (12%), rental (6%), and investment withdrawals (6%).

"We wanted a mortgage product that expands our ability to fit Canadian homeowners right where they live - their actual income sources and the real situations that don't always fit within traditional lending models," said Dan Eisner, CEO of True North Mortgage. "The Compass Mortgage helps us provide more personalized, cost-effective solutions across a wider range of client needs."

Home financing that recalibrates the bigger financial picture

Compass Mortgage offers greater flexibility in assessing income and qualifying ratios, including for high-net-worth individuals and those with multiple properties, while still adhering to strict underwriting standards.

At the same time, the product comes with borrower-friendly features such as amortization terms of up to 40 years, annual prepayment privileges of up to 20%, and flexible payment options - giving borrowers more control over their mortgage structure and long-term costs.

Canadian homeowners facing rising costs are exploring their mortgage options

Available for both purchases and refinances, Compass Mortgage can also support a range of financial needs, including debt consolidation, accessing home equity, and transitioning away from higher-cost private lending arrangements. In 2025, True North, a brokerage that works with multiple lenders, saw a 67% increase in client refinances compared with 2024, as more borrowers sought to restructure their home financing amid rising costs and the potential for higher mortgage rates at renewal.

This launch comes at a time when more Canadians face affordability challenges and changing income sources - over 36% of mortgage holders in their survey reported that mortgage payments were a challenge. Eisner added, "Canadians have tremendous pride in owning a home, and we want them to succeed, no matter the economic hurdles we face as a nation."

Compass Mortgage is available through THINK Financial, True North Mortgage's in-house lender, and is designed to complement its broader suite of mortgage solutions.

True North Mortgage has funded over $33 billion in mortgages since 2006, with THINK Financial's share exceeding $17 billion since its inception in 2016.

For media inquiries, please contact:
Cheryl Dawes
Content Manager
[email protected]

About True North Mortgage

Since 2006, True North Mortgage has transformed the way Canadians access mortgages, combining bank-level trust with salaried brokers, storefront locations, and online options nationwide. As a mortgage brokerage, it works with multiple lenders, including its in-house lender THINK Financial, to offer trusted, competitive, and tailored mortgage solutions.

True North Mortgage blends advanced tools with human expertise to make mortgages simpler, faster, and more transparent. By integrating technology with personalized guidance, its brokers help Canadians make informed decisions and achieve better mortgage outcomes.

To learn more, visit: www.truenorthmortgage.ca

Survey Methodology

The results presented are findings from a study/survey conducted by True North Mortgage from January 14-27, 2026, among a representative sample of n=1,056 online residents of Canada who are members of the Angus Reid Forum who either currently own a home with a mortgage or were about to purchase a home. The survey was conducted in English and French. For comparison purposes only, a probability sample of this size would carry a margin of error of +/- 3.0 percentage points, 19 times out of 20.

Source: True North Mortgage internal client placement and refinance data, 2024-2025.

SOURCE: True North Mortgage

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