TOOLS • Mortgage Lenders

More Lenders

More Options

We all recognize the ‘Big 5’ banks in Canada, and while this may be a good option for some, it is a costly mistake for many. When choosing your mortgage, there are many options from our lenders.

Lenders

BANKS

Canadian Banks

The Big 5 banks in Canada are well-known for their brick-and-mortar branches. However, this brand recognition comes at a price – their mortgages are some of the most restrictive in the market, and they have been criticized for lack of transparency.

Borrowers should focus on interest rates and other factors like prepayments and penalties when shopping for a mortgage.

Banks typically have the harshest mortgage penalties, so borrowers should know this when considering a loan from one of these institutions.

MORTGAGE LENDERS

Mortgage Specific Lenders

These are lenders who specialize in mortgages. They are not in the business of taking deposits, investments, credit cards etc. As a result, they have low overhead and pass those savings to you with lower mortgage rates and more favourable terms and conditions.

Other incentives that draw borrowers in are their flexible prepayment privileges, low penalties, and property tax inclusion, to name a few.

CREDIT UNIONS

Provincial Lending

Credit unions are often local lenders who cater to the demands of their community. These are provincially regulated, and each operates independently. Lending outside the federal guidelines has its advantages, but they come with a premium.

INDUSTRY PARTNERS

Working Together

In addition to Canada’s top lenders, our trusted industry partners share our vision of creating the best customer experience.

M FACTORY

Mortgage News

Too Early For Rate Decrease: Bank Of Canada

Too Early For Rate Decrease: Bank of Canada

The Bank of Canada’s Governing Council is hesitant to pinpoint when they might begin easing interest rates, as indicated in the summary of discussions from their January 24 meeting.

Mortgage Porting Bring Your Mortgage With You

Mortgage Porting: Bring Your Mortgage With You

Suppose you are committed to a five-year mortgage term with two years left until renewal. However, recent changes in your life, such as a new job offer requiring relocation or the need for more space due to a growing family, necessitate an early exit from

Real Estate Upswing In December

Real Estate Upswing in December

After an uneventful November and the tension of a cooling year-end market, the national real estate figures for December have defied expectations. A surprising upswing of 8.7% monthly compared to November, with 38,135 property transactions. On an annual basis, sales activity saw a 3.7% increase.

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