Top 15 Mortgage Brokerages in Ottawa | WOWA.ca (2024)

Best 5-Year Fixed Mortgage Rates in Canada

Butler Mortgage

Founded in 1995, Butler Mortgage is a prominent mortgage brokerage in Canada headquartered in Toronto. Its services are primarily available in Ontario, British Columbia, and Alberta. With over 350 lending partners, including banks and credit unions, Butler Mortgage provides its clients with access to a variety of mortgage and financing options, including

Butler Mortgage provides rate guarantees to its clients in two ways, the Up-Front Rate Guarantee and the After-Approval Rate Guarantee. With the Up-Front Rate Guarantee, Butler Mortgage pledges to offer customers the best possible mortgage rate upfront. If a client finds a better rate elsewhere, the brokerage compensates them with $500 at closing. With its After-Approval Rate Guarantee, the brokerage continues to monitor rates for you even after being approved. If another lender offers a rate that is 0.1% lower than your rate and your lender is unwilling to match it, Butler Mortgage lets you switch lenders without charge.

Butler Mortgage also offers a RateGuard Approval that enables customers to secure mortgage rates for up to 120 days. During this period, if the rate drops, the customer can receive the new, lower rate.

nesto

Nesto, a rapidly expanding digital lending platform, was established in Montreal in 2018. Unlike traditional commission-based models, nesto compensates its agents with a fixed salary to ensure impartial advice and the best possible mortgage interest rates for customers, free from personal interests. The company suggests that it offers its customers a 'floor rate,' the most competitive rate that banks offer.

Nesto's application process is entirely digital, allowing applicants to apply at their convenience from any location. The online application takes only minutes to complete, and applicants can seek support from advisors via email or phone. Nesto has strict lending guidelines, requiring a minimum credit score and no missed payments from applicants.

Like Butler Mortgage, nesto offers a low rate guarantee, and they strive to match or beat any competing brokerage rates. If unsuccessful in doing so, nesto compensates its customers with $500. Nesto also offers a featured rate with a 150-day rate lock-in period, exceeding the standard 120-day offering.

Furthermore, nesto provides periodic promotions, such as the cash-back mortgage, providing 1% cash back on mortgage amounts up to $9,250 for a 5-year term.

Nesto offers three financing options

• New mortgage,
• Mortgage renewal, and
• Mortgage refinance.

neo

True North Mortgage

True North Mortgage has offered mortgage services throughout Canada since its establishment in 2006. The brokerage, headquartered in Calgary, operates 12 offices throughout the country. Clients from Ottawa contact them by phone or online. True North Mortgage claims to save its clients an average of $3,000.

True North Mortgage guarantees the lowest rates to its clients. If a client finds a lower rate elsewhere, True North Mortgage promises to beat the rate or compensate them with $500.

Furthermore, True North Mortgage's in-house lender, THINK Financial, is offering a temporary solution providing respite from the increased mortgage rates called 'Rate Relief.' Rate Relief provides a lower fixed rate for six months, following which borrowers can either renew their mortgage with THINK Financial or pay a 1% fee to them.

True North Mortgage offers the following services:

Citadel Mortgages

With seven offices in seven provinces of Canada, Citadel is a leading mortgage brokerage established in 2018. Although they don’t have an office in Ottawa, customers can reach them via phone or their website. Interested borrowers can apply online and get prequalified for a mortgage within 60 seconds. They offer mortgage services such as

Citadel Mortgages also provides an all-in-one mortgage solution that combines a mortgage with a HELOC, allowing borrowers to pay off their mortgages faster. The brokerage works with many lenders, including banks, credit unions, and private lenders, and caters to borrowers with good, bad, or no credit. Additionally, the brokerage offers limited-time incentives to borrowers, such as cashback, complimentary hotel stays, and AIR MILES.

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CanWise

CanWise, a Canadian lender, exclusively provides its mortgage rates through its brokerage, Ratehub.ca. This brokerage collaborates with various lenders, such as banks and other financial institutions, to offer diverse mortgage solutions. Borrowers can access a variety of mortgage options from CanWise, which include:

CanWise Lending's mortgage products come with a number of features, including mortgage porting, bridge financing, annual additional lump-sum payment options, and increasing regular payment. In addition, CanWise Lending registers your mortgage as a standard charge rather than a collateral charge.

QuestMortgage

QuestMortgage is an online mortgage platform provided by Questrade, a popular Canadian trading platform. QuestMortgage enables borrowers to apply and receive approval online, with mortgage advisors available for phone consultations to address any queries. Borrowers can also call to check for the best available mortgage rates, which can be locked in for up to 120 days.

In addition to competitive rates, QuestMortgage offers prepayment privileges for borrowers. They offer a generous prepayment option that allows borrowers to pay an extra 20% of the balance at the beginning of the term every year. The monthly payment can be increased by 100% of the original amount at any time. Additionally, borrowers can secure their mortgage by opting for Canada Life creditor's insurance during the application process.