It is often not that easy buying a home for most people, especially if you are a first-time homebuyer.
This explains why there has been a rise in the number of companies offering mortgage services. But how do you know the best company to try your “mortgage luck” with? Enter Homewise!
If you’re thinking about buying a home or refinancing your current mortgage, it’s best to consider all of your mortgage options before deciding.
This is a credible review of the Homewise mortgage experience, and it will analyze why you should consider them.
Hop on as I delve deep into everything on Homewise.
- What is Homewise?
- How Homewise Works
- Homewise Mortgage Steps
- Get Pre-Approved (or Approved) for a Canadian Mortgage in just 5 Minutes!
- Homewise Canada Mortgage Partners
- Why Should You Choose Homewise?
- How Long Does the Homewise Application Process Take?
- How Much Does the Service Cost?
- How Does Homewise Help Canadians?
- Downsides of Homewise
- Is Homewise the Best Option?
- Homewise vs. Mogo vs. Breezeful
What is Homewise?
Homewise is a modern digital mortgage solution that provides mortgage seekers with an online mortgage platform to access and get the best mortgages from different lenders.
They offer mortgages for individuals, families, and businesses looking to buy their first home, switch or refinance their mortgage.
Homewise is proud to be a Canadian mortgage provider with roots in the community. With them, you get access to excellent customer service from their team of mortgage experts.
How Homewise Works
If it is not obvious already, I’ll like you to know that Homewise offers some of the best mortgage rates in Canada, but how does it work? Let me shed light on how they do what they do!
Homewise Mortgage Steps
1. Apply online in only 5 minutes
To get started with your application for a mortgage approval (or pre-approval or refinance or switch), all you need to do is complete an online application form. And guess what? The online application takes only five minutes to complete.
2. Get pre-approved (or approved)
After submitting your application and the required documentation, you will typically receive a pre-approval (or approval) within 48-72 hours.
3. Get the best mortgage rate and feature in the Canadian market
Complete Homewise Easy Online Application Now and Get the Best Mortgage Interest Rates in Canada
Get Pre-Approved (or Approved) for a Canadian Mortgage in just 5 Minutes!
Yes, I Want the Best Mortgage Rates in Canada
Homewise Canada Mortgage Partners
I mentioned earlier that Homewise partners with Canadian banks and lenders to give you the best mortgage rate.
Some of the 30+ partners of Homewise are:
- DUCA
- Equitable (EQ) Bank
- Desjardins
- MCAP
- Canadian Western Bank (CWB)
- Home Trust
- First National
- Alterna Savings
- Scotiabank
- TD Bank
- B2B Bank
- CMLS Financial
- Effort Trust
- Haventree Bank
- ICICI Bank
- Lendwise
- Marathon Mortgage Corp.
- MERIX
- NPX
- RMG Mortgages
- Street Capital
- Wealth One
- XMC Mortgage Corporation
- And more!
Why Should You Choose Homewise?
Why should you use Homewise? What makes them the best choice for your mortgage approval, mortgage pre-approval, refinance or switch?
There are several reasons Homewise would be the best option for you if you are looking to buy and own a home in Canada. Top on the list are:
1. Best rates
One significant advantage of using Homewise is that they do the “heavy lifting” for you. They match you with the best lender with the best mortgage rate based on your unique circumstances.
2. Access to the best customer service
Homewise works for you, not the lenders or banks. They are committed to providing their customers with the best possible experience. From the start of your mortgage application to the closing date, and beyond, they’ve got your back!
3. Access to seasoned Canadian mortgage experts
Homewise offers access to seasoned Canadian mortgage experts who know the ins and outs of all thing’s mortgages. Thus, you will have the best minds working on your mortgage and helping you get the best mortgage rate. That’s what makes Homewise such an attractive proposition.
4. Easy Access
You don’t have to travel to access and benefit from Homewise services. Their online presence makes it easier and faster to find suitable mortgages.
5. Free of Cost Mortgage Service with Wide Range of Free Resources
Homewise receives compensation directly from its lenders once you get your mortgage, with no additional cost to you. This is why the team at Homewise works tirelessly to make sure you get the best mortgage and service possible.
Their platform also contains a wealth of mortgage-related tools and resources that you will find beneficial along the way.
How Long Does the Homewise Application Process Take?
You can complete the online application in 5 minutes. Once you have chosen the type of mortgage you want, chosen a proper home buying timeline, and provided all the other needed details, approval typically occurs within 48-72 hours.
Here are the documents you will need to ensure the application process goes as smoothly as possible.
- Employment Letter
- Photo ID
- Payslips
- Bank Statement
- Tax return or T4 Notice of Assessment
How Much Does the Service Cost?
You will be glad to hear that Homewise services are completely free for users. The lender will compensate Homewise for getting them a client.
How Does Homewise Help Canadians?
The running theme throughout this Homewise review has been the digital nature of the mortgage application process. That tells you that Homewise is at the forefront of harnessing technology to help more Canadians buy homes. All without sacrificing quality customer service!
Also, through Homewise you are able to get a better mortgage than the brokers and banks as they take a lower commission, saving you thousands on your mortgage.
Downsides of Homewise
There are some downsides to deciding to go with Homewise, but overall, it’s a fantastic modern digital mortgage solution.
First, when applying for a mortgage through Homewise, you will need to complete your online application before seeing any of the mortgage rates offered by its affiliated lenders.
Also, Homewise does not currently offer its service in Quebec.
Is Homewise the Best Option?
Homewise makes the mortgage process quick and simple by using world-class technology to help you get the best possible mortgage rate.
Homewise is a legit and legally licensed company that offers mortgage services. Their main office is in Ontario at 609 Marlee Ave, North York.
Homewise vs. Mogo vs. Breezeful
If your goal is to find a reliable company that will offer you the best mortgage rate and excellent customer service, go with Homewise. It does not matter if you’re buying your first home or refinancing an existing property, or anything in between; Homewise can help.
Homewise mortgage experts with extensive years of experience will hold your hands through each step of the mortgage process from start to finish.
Let’s look at how Homewise compares with alternatives:
| Homewise | Mogo | Breezeful | |
| Nationwide Coverage | All provinces except Quebec | All regions except Quebec and Saskatchewan. | All Provinces |
| Cost | Free | Free | Free |
| Approval Timeline | 48-72 hours | 24 hours | 24/7 |
| Mortgage Options | Variety of options | Best for High Ratio Mortgages | A slew of mortgage options |
| Mortgage Partners | 30+ | 4+ | 30+ |
The Verdict!
I hope I have given you all you need to know about Homewise?
You won’t go wrong with choosing Homewise as your mortgage solution. I highly recommend you check their website to get the best mortgage rates in Canada.
