Mortgage brokers can access a range of mortgage rates and products from multiple lenders, allowing them to negotiate on behalf of clients and potentially save them thousands of dollars in interest. These brokers receive commissions from the lenders for their services, and borrowers can benefit from their expertise at no cost. There are several national and local brokerages operating in Grande Prairie. Many Calgay-based brokerages also have offices in the city. Listed below are some of the top online and local brokerages offering services in Grande Prairie.
Butler Mortgage is a prominent Canadian brokerage based out of Toronto that offers mortgage solutions across Ontario, British Columbia and Alberta. By monitoring rates from more than 350 lenders, the brokerage ensures that its clients consistently benefit from access to the lowest mortgage rates available in the country.
Some of the mortgage services offered by the brokerage are:
Butler Mortgage provides borrowers with an up-front rate guarantee and an after-approval rate guarantee, ensuring they always get the most competitive mortgage rates. The up-front rate guarantee ensures the best initial mortgage rate, while the after-approval rate guarantee involves continuous market monitoring after approval for better rates. If any lender offers a rate that is at least 0.1% lower than the approved rate, the brokerage ensures borrowers can secure that lower rate.
Furthermore, Butler Mortgage provides RateGuard Approval, allowing customers to lock in their rates for up to 120 days. In the event of a rate decrease during this timeframe, borrowers can take advantage of the new, lower rate. Conversely, if rates rise, borrowers still get the initially approved lower rate. Butler Mortgage also offers some cashback mortgage rates.
Pine is a digital brokerage established in 2021, providing a seamless end-to-end digital mortgage experience. Through this platform, borrowers can quickly secure a mortgage from the convenience of their homes. Borrowers seeking guidance can talk with one of Pine's mortgage advisors through phone, email, or chat. Pine leverages technology to reduce the time required for the mortgage application and approval process. The application can be completed in under 10 minutes, with approval granted in as little as 24 hours. Additionally, the platform occasionally extends incentives, such as cashback, to borrowers.
A prominent name in Canada’s digital lending space, nesto is a fully digital brokerage that was founded in Montreal in 2018. In 2022, nesto achieved B Corp certification and began extending its mortgage technology to established financial institutions.
nesto’s proprietary end-to-end mortgage technology has completely digitized the entire mortgage process, eliminating the need for branch visits. Borrowers can apply for a mortgage through the platform anytime and from anywhere. The brokerage maintains stringent lending criteria, requiring borrowers to meet minimum credit requirements to qualify for a mortgage through the platform.
To instill confidence, the brokerage provides a low-rate guarantee to borrowers, committing to compensate them with $500 at the time of closing if they fail to secure the best available rates in the market.
nesto’s 150-day lock-in rate offers the longest rate lock-in period in Canada. Meanwhile, the brokerage also offers a cash-back mortgage product, with which borrowers can get 1% of the mortgage amount back in cash, up to a maximum of $9,250 for a 5-year term. This option can be helpful for borrowers who need cash to renovate their new home, make repairs or buy furniture.
There are currently three financing options offered by nesto:
Established in the year 2018, Citadel Mortgages is a mortgage brokerage based out of Toronto that serves all provinces except Quebec and Manitoba. The brokerage offers mortgage services in the territory of Nunavut as well. It has seven offices in seven different provinces, with the Alberta office located in Calgary. The brokerage extends mortgage solutions not only to well-qualified borrowers but also to those with bruised credit or no credit history.
The brokerage has partnered with several banks, credit unions and private lenders to offer mortgage solutions such as
The brokerage also offers credit management, investment, insurance and banking solutions in addition to mortgage products. A distinctive banking solution offered by Citadel is the all-in-one mortgage, an innovative solution that combines debt and savings into a single account. Borrowers can accelerate their mortgage repayment through this solution and become debt-free sooner.
From time to time, the brokerage also offers incentives, such as cashback, complimentary hotel stays, and AIR MILES, to its customers. The brokerage’s online prequalification tool can prequalify borrowers in less than 60 seconds.
Based out of Vancouver, The Mortgage Group is one of Canada's most expansive brokerages, catering to clients from coast to coast. Founded in 1990, the brokerage has since evolved into a team of over 800 mortgage brokers and agents. The brokerage’s website allows prospective borrowers to easily locate a TMG broker in their vicinity and connect with them directly. Whether applicants prefer to apply in person, over the phone, or online, they have the flexibility to choose. The brokerage's website also offers a range of tools, calculators, and resources for borrowers' convenience.
HT Mortgage Group is a local Grande Prairie brokerage that is a franchise of the Dominion Lending Centres mortgage broker network. The brokerage was originally established in 1999 and has been known by its current name since 2009. The brokerage has access to mortgage rates and products from over 230 lending institutions across Canada. The latest rates offered by the brokerage are available on its website. The website also offers other free tools, such as the instant home value estimator and payment calculator. The best ways to contact the brokerage are over the phone and using the contact form on their website.
Mortgage Line is a Calgary-based brokerage with offices in Grande Prairie and Edmonton as well. The brokerage offers mortgage solutions that include mortgages for new purchases, renewal, refinance options, mortgages for investment property and more. The brokerage works with over 50 lending partners to offer competitive mortgage rates. Apart from mortgage solutions, the brokerage also offers home and auto insurance products. Borrowers can apply for a mortgage through the brokerage’s website or contact them over the phone for an initial consultation.
Quantus Mortgage Solutions is a Calgary-based brokerage offering mortgage services across Alberta. Many brokers of the brokerage work independently, including some in Grande Prairie. The brokerage is committed to providing a 1-14-21 process, which means pre-approval in 1 day, processing in 14 days and possession in 21 days. The brokerage can help with all kinds of lending solutions, including debt consolidation and credit improvement. Borrowers who want to get in touch with the brokerage should call or email the local Quantus broker in Grande Prairie.
Many independently operating brokerages in Canada are franchises of mortgage broker networks. These brokerages get access to mortgage products and rates offered by several lenders through the network. Meanwhile, they also get access to several tools and resources that can help them run their businesses and serve their clients. The major networks that have offices in Grande Prairie are listed below.
Established in 1989, The Mortgage Centre, a broker network headquartered in Mississauga, goes beyond residential and commercial mortgages, encompassing equipment leasing and insurance solutions. With a vast network of over a hundred lending partners, the brokerage is dedicated to securing the best rates for each client. Borrowers can also download their mobile app, MCC Home Centre, and apply to get prequalified in less than 60 seconds.
Dominion Lending Centres (DLC), one of Canada's most widespread broker networks, boasts a network of over 3,000 brokers. Collaborating with more than 90 lending partners, DLC can provide some of the most competitive mortgage rates in the market. In Grande Prairie, there are multiple DLC brokerages, with Peace Mortgages Inc. being one of them. The network equips its brokers and agents with several tools and resources to ensure they deliver exceptional customer service.
Individuals wanting to pursue mortgage brokering as a profession in Canada are required to obtain a license from the local licensing authority in their province. In Alberta, the Real Estate Council of Alberta (RECA) is responsible for issuing licenses for mortgage brokers.
Obtaining a mortgage broker license in Alberta requires successfully completing the 'Mortgage Associates Program.' The program comprises two essential courses:
In addition to program completion, applicants must also demonstrate proficiency in the English language.