Top 6 Mortgage Brokerages in Peterborough
A mortgage broker collects a borrower's information once and compares rates from a panel of banks, credit unions, and alternative lenders, rather than offering a single institution's products. In most cases, the lender pays the broker's commission when the mortgage closes, so borrowers typically pay nothing for the service. Peterborough is the largest city in the Kawarthas, home to Trent University and Fleming College, and a gateway to Ontario's cottage country. Financing for cottages, waterfront and rural properties, or student rentals near the campuses can vary widely from lender to lender, which is where a broker's wider lender panel helps. Below are some notable brokerages serving Peterborough borrowers, from online brokerages to firms with an office in the Kawarthas.
Quick Picks 💡
- 1Butler MortgageBacked by more than 25 years in business, this Ontario brokerage tracks rates from over 350 lenders and will match a better rate or pay $500 at closing.
- 2Joe Purewal MortgagesWith more than 20 years of experience, this Ontario brokerage can help with tough files like bank declines, self-employed income, and credit challenges, as well as everyday purchases and renewals.
Mortgage Brokerages in Peterborough and the Kawarthas
Peterborough Online Brokerages with Competitive Rates
For more than 25 years, Toronto-based Butler Mortgage has been arranging mortgages for borrowers across Ontario. Its easy phone-based application process means Peterborough borrowers can work with the brokerage without travelling. According to the brokerage, it keeps watch on the rates of every major prime lender and shops more than 350 lenders for each client. Butler's Ontario offices are in Toronto, Hamilton, and Ottawa, but a borrower in the Kawarthas can complete every step by phone or online.
Their rates are backed by several rate guarantees, meaning borrowers can be assured that they will receive the best possible rate. Its financing options include:
- Home purchase mortgages
- Renewals and transfers
- Refinancing
- Construction and Purchase Plus Improvements
- Second mortgages and home equity solutions
- Self-employed mortgages and low-documentation mortgages
From its base in the GTA, Joe Purewal Mortgages brings more than 20 years of mortgage experience and works with clients by phone, email, or online form. The brokerage is part of the Invis network, where it has been a top performer for many years, and has arranged financing for over 10,000 clients. It has earned over a thousand five-star reviews and several Readers' Choice awards along the way.
Complex files are a specialty of Joe Purewal Mortgages, including bank declines, self-employed income, credit challenges, tax arrears, private financing, and debt consolidation. The brokerage also takes on routine purchases, renewals, refinances, investment properties, and pre-approvals.
Frank Mortgage is a Toronto-based online brokerage that launched in 2021. It is built for borrowers who want to handle their mortgage digitally from application to closing, making it a great choice for borrowers from Peterborough who have limited brokerage and lender access. Its proprietary algorithm finds the products and rates an applicant may qualify for across Frank's lender partners rather than promoting a single lender. A mortgage advisor is assigned to follow up after each application.
Frank Mortgage frequently runs rate discounts or cash-back specials for online applicants. The brokerage arranges new purchases, refinances, and renewals, and clients can complete everything online or book a free phone consultation.
The Mortgage Doctors is an Oshawa brokerage that serves clients across Durham Region and beyond, and its listed service areas include Peterborough, Kawartha Lakes, Lindsay, Selwyn, and Trent Lakes. The team works with more than 50 lenders to offer a range of mortgage products. Peterborough borrowers can work with the team by phone or through its online application, or visit the office in Oshawa, which is about an hour's drive from Peterborough.
Beyond purchases, renewals, and refinances, the brokerage arranges self-employed and investment property mortgages, commercial and reverse mortgages, and financing for borrowers with bad credit or a consumer proposal. Initial consultations are free and come with no obligation.
Local Peterborough Mortgage Brokerages
Mortgage Plus is an independent Peterborough brokerage, licensed under FSRA #10407, that has been operating since the early 1990s. The firm has worked out of several Peterborough locations before settling on Reid Street. Along with bank financing, Mortgage Plus arranges private lending for borrowers who have been turned down by a bank. Its services include:
- First-time buyer mortgages and pre-approvals
- Renewals and refinancing
- Self-employed and new-to-Canada mortgages
- Debt consolidation and credit improvement
- Investment property and vacation home financing
- Commercial and reverse mortgages
Kawartha Mortgage Group is a Lindsay brokerage that serves Peterborough and the surrounding Kawarthas. The brokerage is a part of the Dominion Lending Centres brokerage network, and its team includes brokers who have been in the industry for more than a decade. Beyond purchase financing, refinancing, and reverse mortgages, Kawartha Mortgage Group arranges construction and commercial mortgages, along with agricultural financing with repayment terms designed around seasonal farm income. Prospective clients can request a free consultation online or reach the office by phone.
About Mortgage Brokers in Ontario
Every mortgage broker and agent in Ontario needs a licence from the Financial Services Regulatory Authority of Ontario (FSRA), which also regulates the brokerages that sponsor them. Licensing starts at Mortgage Agent Level 1, with further education required to reach Level 2 and a full mortgage broker licence, and all licensed brokerages must carry errors and omissions insurance.
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