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Homewise Mortgage Broker review

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Looking to buy your first home? Compare your lending options to lock in big savings with this online mortgage platform. 

Whether you’re a seasoned homebuyer or entering the market for the first time, getting a mortgage can be a daunting process. Luckily for you, the mortgage experts at Homewise are working to change that. 

Product NameHomewise Mortgage
Loans offeredFixed and variable rate mortgages
Second mortgages
Bridge mortgages
See rates
More Info

From screening and pre-approval to refinancing and switching your mortgage, Homewise partners with top-tier lenders to make the process of buying a home easier to navigate. The end result is that you save money and time while securing a mortgage that’s custom-fit to meet your unique set of needs and budget.

How does Homewise work?

Homewise operates an online mortgage platform designed to give you hassle-free access to a wide range of suitable financing options. All you need to do is fill out a quick application to generate a tailored profile that will help match you with the right provider.

Homewise‘s team of experts will use this profile to begin scouring through mortgages across multiple banks, lenders and credit unions. From there, they will compile a list of the best options for you so you can hand-pick your favourites and get the money you need at a fraction of the cost.

Once you’ve decided on a provider, Homewise aims to get you approved or pre-approved within 2-3 days. You’ll also be paired with a personal Homewise Expert who will give you guidance and work with you and your lender to help finalize your mortgage.

How much money can I save?

The amount of money you can save depends on your unique financial situation as well as the size of the mortgage you need. But no matter who you are, Homewise claims to be able to save you thousands of dollars by comparing multiple lenders through its tech-driven process.

Unlike big banks, Homewise uses your online profile to match you with the best provider and gives you easy access to wholesale rates. This means that you get the benefit of choice, flexibility and transparency when you choose your lender. You also won’t need to haggle for the best deal because Homewise will be busy negotiating on your behalf behind the scenes.

Do I have to pay to use Homewise?

One of the best features of Homewise‘s online platform is that it’s free to use. This might leave you wondering how they turn a buck – but it’s pretty simple. They get paid out by your lender when your mortgage closes.

In the end, it’s a win-win for everyone. The lender gets your business, Homewise makes a cut and you walk away with a mortgage that’s best fit to suit your needs. And since Homewise is a digital business, it takes a lower commission to help pass those savings on to you – something that many bricks-and-mortar brokers would be hard-pressed to do.

Pros and cons


  • Easy application. You can apply to use the platform from the comfort of your own home in less than five minutes.
  • Big savings. Homewise promises to save you thousands of dollars on your mortgage.
  • More choice. You’ll be matched with several suitable lenders and you’ll be able to pick the one that best suits your needs and budget.
  • Free service. Homewise is paid out by your lender when you close your mortgage so the service is free of charge.
  • Helpful resources. You can access Homewise‘s wealth of online resources to delve into the finer details of securing a mortgage in Canada.
  • Expert guidance. You’ll be paired with a Homewise expert who can help you navigate the mortgage process from start to finish.
  • Charitable donations. Homewise donates a part of its commission to Habitat for Humanity, an NGO that builds safe and affordable homes for those in need.
  • Referral bonus. If you refer a friend who closes their mortgage with Homewise, you'll receive a $200 gift card and your friend will receive a $100 gift card.


  • Not available in Quebec. Homewise does not offer its online platform to residents in Quebec.
  • No in-person service. You won’t be able to visit Homewise in-person to discuss your mortgage needs.
  • Computer-based. You’ll have to be a little bit tech-savvy to navigate the online application and document upload process.

What should I know before I apply

How to apply

If you think you meet all the eligibility criteria and you’re ready to get started with your loan application, you just need to follow these simple steps.

  1. Use the online application to provide personal information like your name, email address, proof of ID and relevant documents.
  2. Review and submit your application.
  3. Get verified and work with Homewise to negotiate the terms of your mortgage if you meet the eligibility requirements.

Bottom line

Homewise provides a simple and transparent platform to help you get the best deal on your mortgage. Find out how you can sign up and start your application today to begin comparing lenders.

Frequently asked questions

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