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intelliMortgage Mortgage Rates

Find the best mortgage rates in Canada from intelliMortgage.

Rates by location
Find the best rates in your area by selecting your province
Home Value
The current purchase price or appraised value of your home
Rate type
The type of the mortgage you are looking for
Down payment
The portion of the purchase price you will be paying upfront
Current mortgage
The remaining amount on your current mortgage

About intelliMortgage

intelliMortgage is a Canadian mortgage brokerage, known for its “Do-It-Yourself” style of mortgage service.

Homebuyers can compare hundreds of mortgage products using the firm’s proprietary Mortgage Builder, then pick the mortgage that best suits their needs with no salesperson bias.

intelliMortgage, or iM for short, is also the only Canadian brokerage that compares detailed product listings for the top 100 lenders in the country.

That’s more than 1,000 mortgage products at your fingertips, whereas the majority of brokers typically work with only a handful of lenders.

How does intelliMortgage work?

intelliMortgage is considered a deep-discount online mortgage brokerage, meaning it works on higher volumes and less profit per deal. That ensures borrowers obtain among the lowest mortgage rates on the market.

intelliMortgage offers a simple process to securing low rates.

Compare rates with iM’s Mortgage Builder search engine

  • You can set your mortgage requirements and any additional features you desire
  • You’ll then be presented with a selection of applicable rates from a large selection of banks and other top lenders.

Apply using iM’s secure online portal

  • It takes about 7-8 minutes, says the company

Upload any documents required by the lender

  • All of this can be handled through iM’s Mortgage Portal, considered one of Canada’s fastest and easiest mortgage paperwork systems.

Get approved

  • Approvals are typically received within 24 to 48 hours
  • Lenders with the lowest rates sometimes take longer due to demand.

intelliMortgage’s rate guarantee

intelliMortgage expresses its confidence in having the country’s best mortgage rates with a multitude of rate guarantees.

The first of which is that your rate is guaranteed to be in the best 1% of all mortgage rates in Canada. If, by chance, you’re able to find a lower rate, iM will make good on the guarantee by paying you $500. Terms apply.

Once approved for your loan, intelliMortgage will continue to guarantee your rate against other lender rates up to one-tenth of a percent lower for a similar mortgage. Should you find such a rate at another lender and your current lender won’t match it, you can switch lenders at no cost.

Here are the other guarantees intelliMortgage offers:

  • Rate normalization: This means iM promises to always quote the lowest possible rate on every “do-it-yourself” mortgage. The goal is to earn a similar minimal profit, regardless of the lender or product, so clients can have access to the lowest rates with less bias.
  • After-approval guarantee: Your low-rate guarantee doesn’t end once you’ve been approved for your mortgage. intelliMortgage will continue to monitor mortgage rate changes, and should another lender offer a rate that’s more than one-tenth of a percent lower, and if your approved lender won’t match it, you can switch lenders at no cost. And if the lender you’ve signed on with drops its rates after you’ve been approved, iM will also ensure that the lower rate applies to your mortgage (as long as there’s enough time to rebook the rate before your deal closes, and the lender permits it).
  • Closing date guarantee: The last thing any homebuyer wants is a delayed closing date. That can lead to complicated and costly problems. That’s why intelliMortgage guarantees to close your purchase financing on time. If that’s not possible, they’ll pay you $500 once your deal closes. In the case of refinances, iM promises to close your deal within 18 business days, should you choose, otherwise your mortgage registration costs (legal fees, etc.) will be covered. Conditions apply.

How can intelliMortgage offer the best rates?

Several factors contribute to intelliMortgage being able to offer the best mortgage rates in Canada.

First, they cut out the middlemen. Since mortgage shoppers are doing the legwork of searching for their own personalized mortgage rates, that cuts traditional broker commissions and human resource costs.

iM reinvests those savings into buying down rates. That ensures you’re able to get rates that are lower than virtually any other competitor.

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Focus on the right mortgage. Not the cheapest.

It’s understandable that homebuyers feel an obligation to their wallet to seek out the absolute lowest mortgage rate available. And it’s a noble cause.

But at intelliMortgage it’s easy to find the laser-sharp focus on rate misplaced. Instead, borrowers can search for the best rate for their personal needs and financial situation, based on non-rate factors like penalties, portability, prepayment privileges, blend and increase privileges, and so on.

Choosing a rate with the right features, even if it costs you slightly more in rate, can save you many thousands in the long run.

Considerations factored in by iM’s Mortgage Builder include:

  • Term length (e.g., choosing a longer term involves a higher risk of breaking the mortgage early)
  • Portability options
  • Prepayment penalties
  • Collateral charges
  • Refinance restrictions
  • Variable mortgage payment types

intelliMortgage fees

If you close a standard mortgage through intelliMortgage, you will never be required to pay a fee.

Like most brokers and brokerages, they are paid a small commission from the lender directly, and not from the homebuyer.

The only fees that intelliMortgage clients may need to consider are the following:

  • Appraisal fee – This applies if your mortgage is not default insured, and iM typically refunds all or part of this fee on most conventional mortgages.
  • Legal fee – This doesn’t usually apply if you’re switching lenders with no changes to the mortgage, but applies to purchases and refinances.
  • Discharge fee – This is charged by your previous lender when switching to a new lender.
  • Mortgage penalty – This is charged when you break the terms of your mortgage contract by prepaying too much of your mortgage or break it completely before maturity.
  • Cancellation fee – This applies if you cancel a mortgage approval that you had originally requested. (This does not apply if you cancel for reasons outside your control, like your home did not appraise high enough or your purchase offer fell apart)

The only time broker fees might apply is in the case of specialized mortgages, such as sub-prime lending, private mortgages and commercial lending.

Is intelliMortgage right for you?

intelliMortgage is one of a new breed of deep-discount online mortgage providers in Canada. If you don’t need extensive mortgage hand-holding, prefer doing your own research and love fast, convenient online interfaces, iM may be for you.

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