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“Want a really low mortgage rate, without the sales spin?…IntelliMortgage… checks for the best rate from among banks, credit unions and wholesale lenders who don’t deal directly with the public.”

Mortgage Brokers and Banks vs. iM's Digital Mortgage™

Big Bank Rates


Typical Broker Rate




Savings is over five years. It is a comparison of the average advertised Big 6 bank "special offer" rate, versus: 1) the average discounted discretionary rate at the Big 6 banks as tracked by, 2) the average broker rate as tracked by, and 3) the lowest conventional full-featured 5-year fixed rate in intelliMortgage's Mortgage Builder, as of March 14, 2017. Assumes a $300,000 mortgage and 25-year amortization. Rates may vary from what you see here, depending on the market, your personal circumstances and qualifications. OAC.

No Surprise Fees

We never charge broker fees to close your mortgage, ever. In fact, lenders pay us to process your mortgage on their behalf. We in turn take up to half of their fee and give it right back to you, through rate buydowns and cash rebates.

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Mortgage Features Matter

Saving 0.1% or 0.2% on the interest rate doesn't help if you pick a mortgage with:

  • The wrong term Assuming you don’t have extra money to prepay your mortgage, picking the lowest cost term is the single most important thing you can do to reduce your interest costs. If you save 0.10% on your interest rate upfront but pay 0.50% extra during your term (because you locked in too long) or 0.50% more at renewal (because you didn’t lock in long enough), that initial savings is all for not.
  • Portability limits Some lenders make you close your old home and your new home on the same day if you want to “port” your mortgage. Others give you only 30 days to port. These short “port gaps,” as they’re called, are often impractical. They often require borrowers to break their mortgage instead of porting it, and pay a penalty that’s many times greater than a 0.10% interest rate savings.
  • High penalties All major banks and certain credit unions and discount lenders have penalties that are up to 2- to 3-times normal, or more. That’s potentially thousands of extra dollars out of your pocket if you need to break your mortgage early.
  • Refinance restrictions Refinance restrictions prevent you from freely refinancing. That means you pay more if you buy a new home and need to add money to the mortgage, or if you need to consolidate debt, or if you want to refinance to a lower rate.
  • High rates on variable conversions If you decide to lock in your variable rate to a fixed rate, some lenders charge unfairly high fixed rates on that conversion. These rates can be up to one-half point above the best rates on the market.
  • High rates on mid-term refinances If you need to increase your mortgage amount, some lenders charge inflated rates on the new money you borrow. As with conversion rates, some lenders “blended” rates (as they’re called) can be up to one-half point above the best rates on the market.
  • Reinvestment fees For some lenders, a penalty is not enough. They’ll also charge you a reinvestment fee or abnormally large discharge fee if you break the mortgage early.
  • Insufficient prepayment privileges Steer clear of zero or 5% prepayment privileges if there’s any chance you’ll need more than that. There’s no sense paying a penalty just to make a lump-sum prepayment. Also note that big prepayment privileges can potentially be handy for reducing your penalty if you break your mortgage early.
  • A collateral charge A “collateral charge” mortgage lets you re-borrow from the same lender without a lawyer. The tradeoff is that it virtually forces you to refinance if you want to switch lenders. This can cost $1,000 or more, whereas “standard charge” mortgages can typically be switched for free, or near free.
  • And so on...

intelliMortgage objectively compares every major lender and helps you pick the best rate and the best contract terms.

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intelliMortgage Rates intelliMortgage Rates Big Banks Typical Brokers
Lenders Compared A Maritz Research study in 2011 found that 90% of the average broker's business is directed to just three lenders, potentially preventing customers from being exposed to better options at other lenders. intelliMortgage compares ALL mainstream lenders, including all banks, major credit unions, insurance companies and mortgage finance companies, over 100 in total. As a result of greater choice, our clients routinely enjoy consistently lower borrowing costs. 100+ 1 <10
Fast, Easy & Convenient Fast & Easy: Pick your mortgage and get approved in as little as 1-2 business days. Enjoy live support from intelliMortgage's legendary 'Mortgage Concierges' and emailed progress updates until the day you close. Yes No No
No Commissioned Salespeople No Commissioned Salespeople: Compensation can bias an advisor's recommendations. intelliMortgage does away with that. In fact, we aim to earn the same small amount on every mortgage and use the lender's commission to discount your rate further! Yes No No
Worry-Free Rate Guarantee Worry-Free Rate Guarantee: Shop mortgages with confidence, knowing the rates you see are guaranteed to be in the best 1% of rates in Canada! Yes No No

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