In this guide

  • Our verdict
  • Frequently asked questions
  • Your reviews
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Homewise Mortgages
Interest Rate (APR)
Loan Term
Min. credit score
600 (recommended)
Provincial availability

Our verdict

Homewise makes buying a home easier by helping you narrow down mortgage options for free.

Homewise is an online mortgage brokerage staffed by a team of professional advisers who can help you find a home loan from among the company's network of 30+ Canadian lenders. Homewise helps everyone from first-time buyers to experienced homeowners, offering guidance through pre-approval, full approval and refinancing.

Consider this broker if you're overwhelmed by the prospect of navigating mortgage options alone. But if you only want to work with a direct lender, you'll need to look elsewhere.


  • Free, easy online application
  • Compare mortgage options tailored to your needs
  • No obligation to move forward after applying
  • Support from real human advisors


  • Broker, not a direct lender
  • Not available in P.E.I. or Quebec

In this guide

  • Our verdict
  • Frequently asked questions
  • Your reviews

What is Homewise?

Homewise provides online mortgage brokerage services to help you narrow down home loan options. After submitting an online application, you’ll be matched with lenders offering mortgages to borrowers with your financial profile and needs. Founded in 2018, the company works with over 30 mortgage providers, including private lenders, across Canada.

Homewise works with various clients, from first-time home buyers to experienced homeowners interested in pre-approval, approval, switching or refinancing. You’ll get help through the entire process, from approval to closing.

What are the advantages of Homewise?

  • Easily application. Apply online from the comfort of your home in less than five minutes.
  • Completely free to use. Homewise doesn’t charge any fees. It makes money by referring customers to lenders in its network.
  • Potential savings. Homewise seeks to save clients up to $20,000 on the average mortgage.
  • Compare personalized mortgage choices. Benefit from the broker’s relationships with ore than 30 lenders across Canada. Find a mortgage provider that will work with your financial situation.
  • Self-employed applicants accepted. As long as you have the right documents to prove your income, self-employed people can apply for a mortgage through Homewise.
  • 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.
  • Homewise gives back. The company donates to Trillium Housing, a Toronto-based organization that builds affordable housing for those in need.

What should I look out for?

  • Not available everywhere. Homewise does not operate in Quebec, P.E.I., Yukon, Nunavut or the Northwest Territories.
  • No in-person service. The company is strictly online, so you can’t visit a local office for in-person service.
  • Additional lender requirements may apply. In addition to the information Homewise requires to process your mortgage application, you might have to meet other criteria to be fully approved by your lender of choice.

Should I use a mortgage brokerage like Homewise?

The benefit of using a mortgage broker like Homewise is that you can easily compare mortgages from multiple lenders with a single application and a single hard credit check. It doesn’t cost any money to use Homewise, which makes a commission by referring customers to partner lenders.

Also, since Homewise operates its business entirely online, it can take a lower commission from lenders to help pass those savings on to you—something that many bricks-and-mortar brokers would be hard-pressed to do.

The primary downside of using a mortgage broker is that you’re limited to the lenders within the broker’s network, which doesn’t represent the entire market.

Ultimately, you can give Homewise a go to view and compare your options without any obligation to move forward. If you’re not satisfied, you can always continue searching for mortgages elsewhere.

Does Homewise charge any fees?

Homewise is free to use. There’s no charge for using the platform, submitting an application or viewing your home loan options. Rather than charging fees, Homewise makes money by referring customers to its partner lenders. Bear in mind that mortgage fees and other closing costs still apply whenever you buy a home.

Is Homewise safe?

Homewise has been operating since 2018 and is licensed to provide mortgage brokerage services in eight Canadian provinces, including BC, Alberta, Saskatchewan, Manitoba, Ontario, Newfoundland, New Brunswick and Newfoundland and Labrador. It’s not licensed in Quebec, P.E.I., Yukon, Nunavut or the Northwest Territories. The company is headquartered in Toronto, Ontario.

Homewise is also a member of the Canadian Real Estate Association (CREA), a trade association representing real estate brokers, agents and salespeople across Canada.

Homewise uses SSL technology and bank-level encryption to protect customers’ data. Your information will never be shared with third-party advertisers.

Am I eligible for a mortgage through Homewise?

Homewise works with borrowers with varying financial needs and circumstances, but you’ll be more likely to get matched with competitive mortgages options if you meet the following criteria.

Eligibility requirements

To apply for a Homewise mortgage, you must:

  • Be at least the age of majority in your province (18 or 19)
  • Be a resident of Canada
  • Be free from bankruptcy or other forms of unmanageable debt
  • Have a down payment of at least 5%
  • It’s recommended that you have a credit score of 600 or higher. If you apply with a lower credit score, your options might be limited.

Required documents and information

To ensure a smooth application process, be sure to have the following information on hand before applying for a mortgage through Homewise:

  • Valid government-issued ID. Show proof of ID like a driver’s licence or passport.
  • Proof of income. Submit documents like recent bank statements, pay stubs, a tax Notice of Assessment letter or a letter of employment to verify your income.
  • Consent to a credit check. You’ll need to authorize Homewise to conduct a hard credit check when you apply. Only one credit check is necessary to get matched with lenders, and there’s no extra cost involved.

How to apply

When you’re ready to start the application process, follow these simple steps:

  1. Visit the Homewise website, or select the Go to site button.
  2. Fill out the online application to create your user profile. This should take no more than five minutes.
  3. Submit your application, and wait for Homewise to review it.
  4. Once your application is verified, a Homewise adviser will search for the best mortgage options for your needs.
  5. View your mortgage options, and choose a lender.
  6. Work with your Homewise adviser to finalize your mortgage.

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How do I contact Homewise customer service?

Your Homewise adviser is available to walk you through the application and approval process and address any questions or concerns you may have. Homewise customer service can be reached by phone or email. You can also connect with the company via Facebook, X (Twitter) or Instagram.

Frequently asked questions

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