We recognize that COVID-19 has created unprecedented challenges for everybody.

You may still be eligible for a mortgage deferral or other forms of relief on a case-by-case basis if:

  • Your mortgage or loan is not overdue
  • You have not been previously declined for relief
  • You have not already been granted an alternate solution, such as 6 months or more of payment deferral or modification of your loan terms e.g. interest rate, payment frequency, amortization, early renewal
  • You or any member of your family are unemployed due to COVID-19
  • You or any member of your family experienced a substantial reduction in income due to COVID-19

Additional requirements may include a full financial assessment of your liabilities and assets to determine potential options to help you stay current with your mortgage payments.

If you have already received a payment deferral and your financial situation has improved, please consider cancelling your payment relief. This can help you avoid paying some of the costs associated with a mortgage deferral.


We have created the following list of frequently asked questions to help address your concerns.
As we are experiencing high call volumes, we ask that you please review this page to see if it answers your question before contacting the Call Centre.

How can Home Trust help if I have experienced an income disruption due to COVID-19?

We want to assure you that Home Trust is here to help those experiencing income disruption (layoff, loss of income due to self-isolation, etc.) caused by COVID-19. We are offering eligible clients a range of relief measures. Please [click here] to begin.

How does a mortgage deferral work?

A deferral means that eligible clients do not have to make regular payments during the deferral period. A deferral affects the repayment schedule only; interest will continue to accrue on the deferred payments, the unpaid interest, and on the principal balance. If you can’t subsequently make the deferred payments, they will be added to your principal balance at maturity.

What will happen to my mortgage at the end of the deferral period?

Your regular mortgage payments will resume as scheduled. If the conditions that led to the income disruption are resolved during the deferral period, please contact us as soon as possible to resume your regular payments. If not, you may contact us to discuss a solution based on your circumstances at that time.

Is there pandemic relief available?

Yes, you are encouraged to complete the financial assessment form if sent to you to better determine an alternative modification of loan terms that may be available to reduce the monthly payments.

Do I need to qualify for pandemic relief?

Yes, this is to assist with immediate relief as the situation can change from month to month, and some products may no longer have the option available. When you apply for payment relief, the email confirmation will advise you if you have been approved or if additional financial assessment of your liability and asset information is required.

What other things can I consider to help ease my cash flow crunch?

There are other actions clients can consider to ease cash flow challenges. For example:

  • If you currently have an accelerated payment (weekly, bi-weekly) on your mortgage, you can contact us through homehelps@hometrust.ca to move back to your regular monthly payment
  • If you had previously elected to pay a higher payment in order to pay your mortgage down more quickly, you can lower your payment to the original amount
  • If you have a variable rate mortgage you may want to convert to a fixed rate. If the current fixed rate is lower than your variable rate, your payment can be lowered
  • Speak to your financial advisor
  • Speak to your mortgage broker

How will a deferral affect my mortgage in the future?

A mortgage deferral is an option to suspend payments on the mortgage until a future date. It will affect the total cost of borrowing for your mortgage based on the principal amount, the interest rate, and the amortization. The example below is based on deferring one monthly payment on a mortgage of $200,000 with an interest of 3.00%, on a one-year term with a 20-year amortization.
example mortgage deferral over a 1-year term
Note: this example is provided for illustrative purposes only and may not reflect your particular circumstances. If requesting a deferral, please speak with a specialist to determine how a deferral will affect your total cost of borrowing.

Will a deferral affect my credit score?

An approved mortgage deferral related to COVID-19 should not, on its own, affect your credit score.

What additional resources are available to help those financially affected by COVID-19?

We are here to help those affected by COVID-19 with information on programs introduced at the provincial and federal level. The following list was last updated on January 25, 2021:

Government of Canada
COVID-19 Economic Response Plan

Provincial and Territorial Government programs

To get help from a credit counsellor, go to this link:
Getting help from a credit counsellor – Canada.ca

What are alternative solutions to consider?

These options may not be available for all products and will require that Home Trust Company assess your assets, liabilities and expenses to determine if any of these options are available:

  • Extending the original amortization – the amortization is the length of time it takes to pay off a mortgage in full. Extending your amortization period will lower your mortgage payments. Keep in mind that the longer you take to pay off your mortgage, the more interest you pay
  • Converting to a fixed rate if your variable rate is higher than the current fixed rates
  • Removing the municipal tax component of a payment temporarily – for a period of time, HTC will continue to pay the municipal taxes but not collect the portion of the payment for tax installment from you. Please keep in mind you may have to make up any shortfall to the tax account balance [at the time of renewal/maturity].

I am still employed but anticipate a layoff or reduction in income if the recommended period of social distancing is extended. Should I contact you now?

You should contact us as soon as you know the actual details of your personal circumstances. We will be here to help when you need us.

Are there other ways to contact Home Trust?

Home Trust has taken measures to ensure our employees can serve the needs of our customers during this disruption. Please read our statement on COVID-19 below for more information.

If we have not answered your questions here, you may send us an email at homehelps@hometrust.ca. A Customer Care representative will reply to your inquiry within five to ten business days. For general questions that do not relate to your mortgage account or other accounts, you may also reach out to us on Facebook, Twitter, Instagram or LinkedIn.

We thank you for your patience and understanding as we work through this trying time together. We assure you that we will work toward a satisfactory resolution.

At Home Trust, we recognize that the COVID-19 virus is creating unprecedented challenging circumstances for everybody. We want you to know that our first priority is the health and safety of our customers, partners and employees. 

We also understand that as a community, we must work together to do everything possible to minimize the spread of the COVID-19 virus. As a result, we have taken measures to ensure that the majority of our employees are able to work remotely and maintain normal business functions. Our teams are fully operational and prepared to support you and your needs. Our commitment to providing solutions that work for your particular circumstances has not changed.

All customers are advised that in addition to our retail stores and satellite offices being temporarily closed, access to our head office in Toronto has been restricted. At this time, we request that all customers requiring assistance contact us using the information listed below.

We want to reassure you, our customers, partners and communities we serve, that we are here to help during this challenging time. We are committed to work with our customers on an individual basis to support you as you manage through these extraordinary times. If you have been directly impacted by COVID-19 and need to better understand your options with Home, please reach out to us at homehelps@hometrust.ca or call us at 1-855-270-3630 or 416-777-5820. We will answer every call. We are here to help.

The most important thing is for us all to stay safe, healthy, and connected. Thank you for your continued trust in Home.

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