If you are shopping for mortgages, mortgage brokers can help you get the best mortgage rates available in the market. Mortgage brokers have access to multiple lenders and can compare the rates to find you the best deal. Mortgage brokers receive a commission for their service from lenders, and the clients do not have to pay them anything. There are over 80 mortgage brokers in Halifax. Listed below are some of the top brokerages servicing the residents of Halifax and Dartmouth. Compiled below is a list of top national brokerages that offer services in the region, followed by the best local mortgage brokers.
Based out of Montreal, nesto is a digital mortgage platform founded in 2018. What sets nesto apart from traditional brokers is that its agents are compensated a fixed salary instead of commissions. This ensures that their advice is impartial, and customers get the best possible mortgage interest rates without any personal interests getting in the way. According to nesto, they offer its customers a "floor rate," which is the absolute minimum rate that lenders can provide.
nesto's application process is entirely digital, making it easy for applicants to apply from anywhere and at any time that suits them. The application takes just a few minutes to complete. Applicants also have the option to contact advisors for support via email or phone. nesto has strict lending guidelines that require applicants to have a minimum credit score and no missed payments on their records.
nesto offers a low rate guarantee to its customers and strives to match or beat any competing brokerage rates. If unsuccessful in doing so, nesto compensates the customers with $500 at the time of closing. In addition to rates with standard lock-in periods of 120 days, nesto also offers a featured rate with a 150-day rate lock-in period.
Furthermore, nesto periodically offers promotions, such as the cash-back mortgage, providing 1% cash back on mortgage amounts, up to $9,250, for a 5-year term.
Nesto currently offers three mortgage solutions
Citadel is a prominent mortgage brokerage founded in 2018 and has established seven offices in seven provinces across Canada, one of them being in Halifax. Customers can walk into their office or connect with them via phone or their website. Applicants can apply for a mortgage online and receive pre-qualification within just 60 seconds.
Citadel offers a unique all-in-one mortgage solution that combines a mortgage with a HELOC, enabling borrowers to pay off their mortgages faster. The brokerage collaborates with various lenders, such as banks, credit unions, and private lenders, and caters to borrowers with good, bad, or no credit. The brokerage frequently offers limited-time incentives to borrowers, such as cashback, complimentary hotel stays, and AIR MILES.
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True North Mortgage has been offering mortgage services across Canada since 2006. Headquartered in Calgary, True North has a presence in 12 offices located in seven different cities in Canada. Clients from Halifax can contact them via phone or online. True North offers another unique option called mobile brokers. A mobile broker meets you at a place you prefer at a time you select. According to True North Mortgage, their clients save an average of $3,000.
Like many other brokers, True North guarantees the lowest rate to their clients. If a client finds a lower rate elsewhere, True North Mortgage promises to match or beat the rate and compensate them with $500 for failing to do so. Additionally, True North Mortgage's in-house lender, THINK Financial, has introduced a solution called 'Rate Relief' to provide temporary respite from the rising mortgage rates. Rate Relief offers a lower fixed rate for six months, after which borrowers can either renew their mortgage with THINK Financial or pay them a 1% administration fee.
True North Mortgage offers the following services:
Neo Financial's Neo Mortgage is an online brokerage service that offers borrowers a quick and efficient mortgage application and approval process. This convenient platform empowers borrowers to obtain a mortgage in minutes from wherever they are. According to Neo Mortgage, borrowers could save thousands of dollars in interest by working with them. This fast-expanding platform has currently listed five lending partners on their website and provides mortgages for new purchases, renewals, and refinancing. Even if you have a low credit score, they can still work with you, but they don't guarantee your approval.
The Blake Wilson Group is a brokerage firm that is affiliated with The Mortgage Group, a mortgage brokerage company that operates across the country and has a network of more than 800 brokers. The brokerage works with over 50 lenders, including banks, credit unions, and private lenders. The brokerage has been offering residential and commercial mortgage services to residents of Halifax and the surrounding areas since its inception in 2016. Borrowers can apply for mortgages through their website, give them a call, or visit their office in person.
Founded in 2005, Ideal Mortgage is a brokerage firm offering services in Nova Scotia, and Newfoundland and Labrador. The brokerage is a part of the Canada-wide mortgage broker network Dominion Lending Centres. Apart from commercial and residential mortgages, the brokerage can also help with credit improvement and debt consolidation. They advertise their best rates online, which makes it easy for borrowers to compare with other brokerages. The application can be made online or in person.
A part of the Centum Mortgage Broker network, Clinton Wilkins Mortgage Team is a brokerage with over a decade of experience. Clinton Wilkins won the Mortgage Broker of the Year (under 25 employees) award for 2022 at the Canadian Mortgage Awards (CMA). Their best rates are advertised on their website, which can be helpful for comparison. Apart from purchase, renewal, and refinance, the brokerage offers services for first-time homebuyers, self-employed, construction loans, and more. They offer an online application process; however, clients can apply in person as well. For information regarding mortgages and home ownership, borrowers can listen to their podcast Mortgage 101, available on Apple Podcasts and Spotify Podcasts.
Premiere Mortgage Centre is a brokerage firm based out of Halifax and licensed in Nova Scotia, Ontario, and New Brunswick. Apart from mortgages, they also deal in insurance of different kinds. The company has partnered with AIR MILES to reward their clients with up to 500 miles with their mortgages. Other than new mortgages, renewal, refinance, and other mortgages, they also offer a cash-back mortgage option, through which borrowers can get up to 5% cashback. Borrowers have the option to apply online or schedule a meeting with one of their agents to initiate the process.
Success Mortgages is a Halifax-based brokerage offering mortgage services in the Halifax region. The brokerage is a part of the Verico broker network. Borrowers can contact the brokerage in person, over the phone, or through email. They can also directly apply using the online application form. Borrowers can also send in their questions to the brokerage through their website.
Mortgage broker networks are prevalent across Canada, with examples like Dominion Lending Centres, Verico Mortgage Broker Network, and Mortgage Alliance. These networks consist of independent mortgage businesses with access to the network's services and rates. Through these networks, independent businesses can offer their clients access to a wide range of lenders and mortgage products while benefiting from technology, training, and marketing support. By leveraging the network's services and rates, independent brokers can provide a better service to their clients. Some of these networks are affiliated with larger financial groups, such as DLCG and M3 Financial Group.
The Mortgage Centre is a broker network headquartered in Mississauga that was established in 1989. Apart from residential and commercial mortgages, they offer solutions for equipment leasing and insurance. They work with over a hundred lending institutions and aim to find the best deal for each of their clients. Borrowers can download their mobile app MCC Home Centre and apply through it to get prequalified in under 60 seconds.