Top 9 Mortgage Brokerages in Moncton
Mortgage brokers help homebuyers find the best mortgage rates in the market by shopping multiple lenders on the borrower's behalf. Because they can approach many lenders at once, brokers are well-positioned to negotiate competitive mortgage deals. In most cases, their services are free to the borrower, as brokers are paid a commission by the lender. Mortgage brokering is a licensed profession, and mortgage brokers in New Brunswick are regulated and licensed by the Financial and Consumer Services Commission (FCNB). Listed below are some of the best online and local mortgage brokerages serving Moncton.
Quick Picks
- The Mortgage Group: The Mortgage Group is a leading brokerage that operates across Canada. The brokerage has over 1,900 mortgage professionals in its network, with over 10 of them operating in Moncton.
- The Mortgage Centre: The Mortgage Centre is a national broker network with over 1,800 brokers across Canada. The brokers have access to many lenders and special rates from the network, and are able to offer some of the best rates in the market.
Top Mortgage Brokers in Moncton
Moncton Online Brokerages with Competitive Rates
An online brokerage introduced by Neo Financial, Neo Mortgage aims to expedite the mortgage application and approval process. The platform allows borrowers to apply within minutes, and they can receive a pre-qualification almost immediately. The platform's mortgage process is fully digital, and thus, the application can be made at any time and from anywhere. Borrowers requiring a consultation may speak with an agent over the phone.
Neo Mortgage suggests that they can save thousands of dollars for their customers with the low mortgage rates they offer. The brokerage's website features five lending partners at the moment, and the mortgage products offered by them are:
- New Mortgage
- Mortgage Renewal
- Mortgage Refinance
Subprime borrowers are also welcome to apply with Neo Mortgage; however, the brokerage doesn't guarantee mortgage approval for such borrowers.
True North Mortgage is a brokerage that opened its first store in Calgary in 2006. The brokerage now has roughly 12 store locations across Canada. Even though the brokerage does not have an office in Moncton, borrowers can apply with the brokerage through its website. Alternatively, borrowers can contact the brokerage on their toll-free phone number, request a callback, or send them a message through their website.
The brokerage's 'lowest rate guarantee' ensures that its clients always get the best rates in the market. Through the guarantee, the brokerage promises to beat or at least match a better rate offered by a competing brokerage. The brokerage suggests that it saves an average of $3,000 in mortgage interest for its clients.
Through its in-house lender THINK Financial, the brokerage is presently offering a unique mortgage solution called 'Rate Relief.' This product allows borrowers to get a low fixed-rate mortgage for six months. After this period, borrowers must either renew their mortgage with THINK Financial or pay a 1% administration fee to renew with a different lender. The services offered by True North Mortgage include:
- New Mortgage
- Pre-approval
- Refinance
- Renewals and Transfers
- Mortgage Porting
- HELOCs
- International Home Purchases
- Self-Employed Mortgages
- Reverse Mortgages
- Purchase Plus Improvements
- Newcomers to Canada
- Vacation and Secondary Homes
- Investment Properties
- Non-Resident Mortgage
CanWise is a mortgage brokerage that was established in 2014 and rebranded as ratehub.ca in 2022. CanWise also became a mortgage lender in 2020 and offers its rates exclusively through its brokerage arm. The brokerage has 16 lending partners that include banks, credit unions, and trust companies.
The mortgage products offered by CanWise come with features like mortgage porting and bridge financing. Borrowers can also pay off their mortgages early with the prepayment privileges that come with CanWise mortgages. Borrowers can either increase their monthly payments or pay off an annual permissible lump sum amount. CanWise mortgages are not registered as collateral charge but as standard ones. The mortgage solutions borrowers can get from them include:
- Mortgages for buying
- Refinance
- Vacation / Second Home
- Newcomers to Canada
- Renewing
- Divorce
- First-time homebuyers
- Business / Self-employed buyers
The Mortgage Group is a national brokerage that was established in Vancouver in 1990. With over 1,900 mortgage professionals working with it, the brokerage is one of the largest independent brokerages in Canada. TMG has its own offices in a few cities and several franchises across Canada, including an Atlantic Canada division. TMG has over 10 mortgage brokers in and around Moncton. Borrowers can find a TMG broker close to them through TMG's website or apply online.
Local Moncton Mortgage Brokerages
Premiere Mortgage Centre is a brokerage based out of Halifax, Nova Scotia, with its agents spread across several provinces in Canada. The brokerage offers all kinds of mortgage solutions, including those for self-employed, newcomers to Canada, and borrowers with bruised credit. Borrowers can start by applying online, giving them a call, or meeting an agent in-person.
Fairview Mortgages is an independently owned and operated brokerage based in Moncton. The brokerage has a team of over 10 mortgage professionals and works with over 140 lenders to find residential and commercial mortgage solutions for its clients. Fairview Mortgages is licensed by the FCNB in New Brunswick and by the NSSC in Nova Scotia.
Hypothèque Metro Mortgage, or Metro Finance, is a brokerage located in Dieppe. The brokerage has a team of six brokers and agents, and offers residential and commercial mortgage services. Through their website, customers can also apply for a Home Trust credit card, and home and auto insurances. Borrowers can apply with the broker of their choice through the website. Alternatively, they can contact the brokerage through phone, or visit their office.
Mortgage Broker Networks in Canada
Many mortgage brokers in Canada are a part of mortgage broker networks. These networks comprise independent brokerages that operate as a franchise of the network. The brokerages have access to the rates, tools, and resources offered by the networks. Some broker networks are part of larger financial groups such as M3 Financial Group and DLCG Mortgage Group.
The Mortgage Centre is a vast network of over 1,800 brokers, 127 franchises, and 259 offices spread across Canada. The broker network was founded in 1989 and is the longest-operating network in Canada. The brokers in the network are equipped with marketing tools and other technology provided by the network and have access to exclusive training programs.
Centum is a national broker network with over 200 offices and over 2,200 mortgage professionals. The network was founded in 2002 and has nine brokers currently offering mortgage services in Moncton. Borrowers can find the broker closest to them through their website or directly apply through the website.
About Mortgage Brokers in New Brunswick
Mortgage brokers in New Brunswick are licensed by the Financial and Consumer Services Commission (FCNB). There are four types of licenses in New Brunswick:
- Mortgage Associate: A person that brokers mortgages on behalf of a brokerage.
- Mortgage Broker: A person that brokers mortgages on behalf of a brokerage and can also supervise mortgage associates.
- Mortgage Brokerage: A company that solicits, negotiates, and arranges mortgage loans and can also provide mortgage loan and investment advice.
- Mortgage Administrator: A company that collects and enforces mortgage payments and sends those payments to mortgage investors.
To become a licensed mortgage broker, an individual must first complete the New Brunswick Mortgage Associate Course and gain experience as a mortgage associate. They must then complete the New Brunswick Mortgage Broker Education Program and pass the course examination to obtain the mortgage broker license.
Disclaimer:
- Any analysis or commentary reflects the opinions of WOWA.ca analysts and should not be considered financial advice. Please consult a licensed professional before making any decisions.
- The calculators and content on this page are for general information only. WOWA® does not guarantee the accuracy and is not responsible for any consequences of using the calculator.
- Financial institutions and brokerages may compensate us for connecting customers to them through payments for advertisements, clicks, and leads.
- Interest rates are sourced from financial institutions' websites or provided to us directly. Real estate data is sourced from the Canadian Real Estate Association (CREA) and regional boards' websites and documents.