Top 9 Mortgage Brokerages in Winnipeg
Mortgage brokers are professionals who act on behalf of borrowers to find the best available mortgage rates from multiple lenders. By comparing offers across many lenders at once, they can help clients secure competitive deals and potentially save thousands of dollars in interest. Brokers are typically paid a commission by the lender for each successful transaction, so their service is usually free to the borrower. Mortgage brokering is a licensed profession in Canada, and each province sets its own licensing rules. In Manitoba, mortgage brokers and mortgage salespersons are registered by the Manitoba Securities Commission (MSC) under the Mortgage Brokers Act. Listed below are some of the best online and local brokerages serving Winnipeg.
Quick Picks 💡
- True North Mortgage: True North Mortgage is a brokerage based out of Calgary that also offers mortgage services in Winnipeg. Borrowers can contact the brokerage over the phone or apply directly through its website.
- Neo Mortgage: Neo Mortgage is a digital lending platform offering brokerage services across Canada. Borrowers can apply online through their website within minutes and get approved quickly. According to Neo Mortgage, they can save their clients thousands of dollars in interest.
- Dominion Lending Centres: Dominion Lending Centres is a Canada-wide broker network that offers brokers in the network access to exclusive rates and tools.
Top Mortgage Brokers in Winnipeg
Winnipeg Online Brokerages with Competitive Rates
True North Mortgage is a Calgary-based brokerage that was established in 2006. Although the brokerage does not have an office in Winnipeg, borrowers can apply online through their website. Alternatively, they can call on True North Mortgage’s toll-free number to speak with an agent.
The brokerage gives its clients the lowest rate guarantee to ensure that they always get the best mortgage rate in the market. True North Mortgage does its best to beat or match the rate if a client finds a better rate at another brokerage. If they can’t do so, they compensate the client with $500 towards their mortgage amount.
The brokerage is currently offering a temporary solution through its in-house lender THINK Financial to provide relief from the increased mortgage rates in the country. This product is called ‘Rate Relief’, and it offers a low fixed-rate mortgage to clients for a six-month term. After the end of this term, the clients can choose to renew their mortgage with THINK Financial or pay them a 1% administration fee on choosing 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
Neo Mortgage is a digital mortgage brokerage service offered by Neo Financial. Borrowers can get a mortgage quickly and easily through the digital platform. The application can be completed through their website within minutes, and no branch visits are required at any stage. Those requiring advice can get support from their mortgage specialists over a phone call. The brokerage’s website has five lenders listed on it currently. The brokerage offers three mortgage products at the moment:
- Mortgages for new purchases
- Mortgage renewal
- Mortgage refinance
According to Neo Mortgage, borrowers can potentially save thousands of dollars in mortgage interest through them. Neo Mortgage extends its services to borrowers with low credit scores, although it does not guarantee mortgage approval.
The mortgage lender CanWise offers its mortgage rates only through its brokerage arm Ratehub.ca. Borrowers can apply for a mortgage through the Ratehub website. CanWise’s mortgage products have features such as mortgage porting and bridge financing. Borrowers can pay off their mortgages early with prepayment privileges offered by them. CanWise registers mortgages as a standard charge and not a collateral charge. The mortgage solutions borrowers can get from them include:
- Mortgages for buying
- Renewing
- Refinance
- Vacation / Second Home
- Newcomers to Canada
- Divorce
- First-time homebuyers
- Business / Self-employed buyers
The Mortgage Group is a Vancouver-based brokerage that was founded in 1990. Although the brokerage does not have an office in Winnipeg, borrowers from the city can contact their Saskatoon office for services. Alternatively, borrowers can directly apply online through their website. Some individually operating brokers are also a part of TMG’s broker network, and borrowers may be able to find one near them through TMG’s website. The Mortgage Group is a full-service brokerage with over 1,900 mortgage professionals across Canada. TMG also offers several tools, calculators, and resources through its website.
Local Winnipeg Mortgage Brokerages
Castle Mortgage is a brokerage based out of Winnipeg that offers mortgage, leasing, insurance and investment services. The brokerage has two offices, one in Winnipeg and the other in Steinbach. Borrowers can apply online, visit one of their offices, or give them a call. The brokerage provides various mortgage services, including new purchases, renewal, refinance, HELOC, second mortgages, and investment properties. One of the unique offerings is the Manulife One Mortgage, a solution that combines your debt, income, and savings into one account so that you can be debt-free sooner.
The Spooner Group is an independent Winnipeg-based brokerage founded in 2016. The team brings over 32 years of combined experience across mortgage financing, real estate, and law, and works with more than 30 lenders to find competitive rates and terms. The brokerage specializes in first-time homebuyers, self-employed borrowers, and clients with credit challenges, and also offers refinancing, private and alternative lending, renovation financing, and construction loans. Borrowers can apply online, book a consultation, or visit the brokerage's office in person.
Ideal Mortgage Solutions is a Winnipeg-based brokerage serving Winnipeg, Portage la Prairie, and Brandon. Along with residential mortgages, the brokerage can help borrowers with commercial mortgages, construction loans, and debt consolidation. Borrowers can check out the latest rates on their website and can also apply online using their 2-minute application form. Alternatively, borrowers can contact the brokerage through phone or email; or visit their office in person.
Mortgage Broker Networks in Canada
Mortgage broker networks have several independently operating mortgage businesses that have access to the network’s rates and tools. By becoming a part of the network, businesses get direct access to the best rates from a long list of lenders, which can otherwise be difficult and time-consuming. Some mortgage broker networks in Canada are part of larger financial groups such as DLCG and M3 Financial Group.
With over 2,900 mortgage brokers working in over 350 offices, Dominion Lending Centres is one of the largest broker networks in Canada. It is a subsidiary of the DLCG Mortgage Group along with Mortgage Centre Canada Inc. and Mortgage Architects. The network works with over 90 lenders and provides exclusive tools and resources to the brokers in the network. The brokers also have access to several training programs, helping them stay up to date. The brokerage also has its own mobile application, ‘My Mortgage Toolbox,’ that borrowers can use to plan their mortgages.
The Mortgage Centre, founded in 1989, is Canada's oldest mortgage broker network. With a vast network of 1,800 brokers, 127 franchises, and 259 offices across Atlantic Canada to British Columbia, the network equips brokers with marketing tools, training programs, and advanced technology to deliver exceptional customer service to clients.
About Mortgage Brokers in Manitoba
To become a mortgage broker in Manitoba, an individual must complete the Manitoba Mortgage Salesperson Course that is delivered online by Mortgage Professionals Canada. The course takes approximately 40 hours to complete. After completing the course, one must apply for a license with the Manitoba Securities Commission (MSC). The license registration with MSC must be completed within six months from the date of successful completion of the course examination.
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- 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.