intelliMortgage Mortgages review
Compare rates and terms to save thousands of dollars on your next home loan with intelliMortgage.intelliMortgage is an online mortgage broker that works with over 100+ banks and mortgage lenders across Canada.
When you’re ready to start shopping around for your next home loan, you might want to consider intelliMortgage. This online broker lets you compare quotes from a number of providers, including banks and private lenders. You can then line your options up side-by-side and pick the best provider for you.
How does intelliMortgage work?
intelliMortgage is an online platform that lets you compare rates for your mortgage. You’ll get a number of financing options from a wide array of different providers willing to lend you money. You’ll then get to choose the best fit for you based on your unique set of needs, lifestyle and budget.
You can see how much you’ll be able to qualify to borrow by filling out intelliMortgage‘s quick and easy online application. Once you decide on your lender, you’ll also get dedicated assistance in filling out your mortgage application from a licensed mortgage expert.
How is intelliMortgage different from the bank?
Unlike the banks, intelliMortgage is a rate comparison site and not a direct lender. This means that it will help you find the right mortgage for you by giving you the chance to compare the rates on offer from multiple lenders. It doesn’t sell its own financial products and you can’t get a loan directly from intelliMortgage.
That said, you’ll typically get lower rates by going through this broker than you will with the bank because the lenders that it compares will have to compete for your business.
How much money can I save?
You might be able to save thousands of dollars by applying for a home loan through intelliMortgage. This broker offers very competitive rates for a number of different mortgage types, including new loans, refinancing and renewals. The rate you get and how much money you save will depend on your credit score and other financial information.
What types of fees does intelliMortgage charge?
You won’t be charged any fees to use intelliMortgage‘s comparison platform to find the best rates for your home loan. That’s because intelliMortgage is paid out directly by the lenders it works with when you sign on for your mortgage. This means that you won’t incur any out-of-pocket expenses for using the service and you’ll get useful expertise and a helping hand to close your mortgage at no extra cost to you.
What are the benefits of getting a mortgage through intelliMortgage?
- Easy application. You can apply for a quote online in a matter of minutes.
- More loan choices. You’ll be able to access a number of loans from different providers, including banks, credit unions and private lenders.
- Best rate guarantee. If you can find a lower rate with another broker, intelliMortgage will either match it or pay you $500.
- Big savings. You may be able to save thousands of dollars on your rates in comparison to the banks and other brokers.
- Many mortgage types. It’s easy to apply for different types of mortgages, including new loans, mortgage renewals, refinancing and home equity lines of credit.
- No-cost service. You won’t pay any fees to compare lenders using this online platform.
- Qualified experts. You’ll be matched up with an intelliMortgage expert who will be there to help you navigate the mortgage process.
- Quick approval. Most applications for financing are approved within 24-48 hours.
- Available across Canada. You can use this service from anywhere in Canada, and you’ll be connected to local lenders that are willing to finance you.
What should I watch out for?
- Strict eligibility criteria for best rates. You’ll only be approved for the best rates available if you meet certain criteria, which are outlined below.
- Lack of in-person service. intelliMortgage is an online broker, so you won’t be able to visit in person to negotiate the terms of your mortgage.
- Computer-based. You’ll have to be a little bit tech-savvy to navigate the online application and document upload process.
What criteria do I need to meet to get the best rates?
You’ll only be considered for the best rates on your mortgage if you meet the following criteria:
- You’re a Canadian resident for tax purposes.
- You have at least two years of excellent established credit.
- You can prove your income and your monthly mortgage payments will work out to less than 40% of what you make.
- Your property is occupied by you, and it’s not considered to be rural, farmland or a cottage.
How can I qualify for a loan with intelliMortgage?
To apply for an intelliMortgage loan, you need to meet the following criteria:
- Be at least 18 years old (and 19 in some provinces)
- Be a citizen or resident of Canada
- Be free from bankruptcy or other forms of unmanageable debt
Required documents and information
- Government-issued ID. You’ll be required to prove your identity with a government-issued piece of ID.
- Proof of income. You may need to prove your income using pay stubs, bank statements or other documents from your employer.
- Credit report. You’ll have to agree to a credit check so that intelliMortgage can assess your eligibility to borrow.
- Property information. You’ll need to provide information about the home you want to buy or the property you already own.
- Confirmation of down payment. You may need to show proof that you have enough money saved up to cover your down payment if you’re getting a new mortgage.
- Void cheque. You’ll have to submit a direct deposit form or void cheque so your withdrawals can be taken directly from your bank account.
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.
- Click the green ‘See rates’ button above to be securely redirected to the online application process.
- Enter in your criteria and select the option that works best for you. Click “Apply now” to be directed to the online application, where you will be asked to provide personal information like your name, email address, proof of ID and relevant documents.
- Review and submit your application.
- Get verified and work with intelliMortgage to negotiate the terms of your mortgage if you meet the eligibility requirements.
intelliMortgage is a reputable mortgage broker that lets you compare rates from a diversity of lenders at no cost to you. It works with a team of dedicated experts to get you the best deal on your mortgage. All you need to do to get started is fill out a quick online application.