Zondo answered
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Should I go with a Big 6 bank or a monoline?
For most borrowers: monolines (First National, MERIX, MCAP, CMLS, RMG) beat Big 6 on rate by 15–30 bps and beat them dramatically on prepayment penalties. Big 6 win on integration (one app for everything), branch access, and HELOC flexibility. If you plan to stay 5 years and not break, monoline almost always wins on math.
What your bank didn’t say
Banks will tell you monolines "have less stability." All 5 of the major Canadian monolines are OSFI-regulated and CMHC-insured the same way Big 6 are. The "stability" pitch is a sales tactic, not a substance argument.
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PropTrust is a Canadian property data platform. We are not a lender, broker, real estate agent, landlord, or paid advisor. This is information about how the rules work — not advice on your specific situation. For that, talk to a licensed professional.