Frequently asked questions
Straight answers about how matching works and what to expect from your mortgage.
Yes. Getting matched is free for borrowers. Agents in our network are independent and pay MortgageMatchr a fee to participate; they are typically paid by the lender when your mortgage funds.
You fill out a 60-second form with your goal, province and contact details. We connect you with one independent, licensed mortgage agent who serves your area.
No. Agents are independent, licensed mortgage professionals regulated in their province. They pay MortgageMatchr a fee to receive referrals, and your mortgage is arranged directly with them.
No. Your details go to one expert only — never sold or shared with others.
Yes. We connect borrowers in every Canadian province and territory.
Let us know and we'll connect you with someone else.
No. Getting matched doesn't involve a credit check. If you decide to move forward with an agent, they'll ask your consent to check your credit as part of your application.
Often, yes. Experts work with alternative lenders and can build a plan to move you back to a prime lender.
Yes. Some lenders specialize in business-for-self income and use your Notices of Assessment or bank statements.
5% of the first $500,000 and 10% of the portion up to $1.5 million. Homes at $1.5 million or more require 20% down.
Insurance required when you put less than 20% down. The premium is added to your mortgage.
Lenders typically hold a pre-approved rate for 90 to 120 days.
Not before comparing. Renewal is the easiest time to switch lenders, and the first offer isn't always the best one.
About four to six months before your term ends, since many lenders hold a rate for 120 days.
Costs vary: breaking a term early can mean a prepayment penalty, plus legal and appraisal fees. Your expert can calculate whether it's worth it.