Mortgages with Lenderoo FAQ

  • Lenderoo helps you get started on your mortgage application and guides you through the entire process. We work with you to find mortgage products with competitive interest rates that best fit your needs.

  • We use AI to search through rates from over 57 lenders to get you the best mortgage rates. And, if you find a better rate, we’ll match it!

  • We provide you with different mortgage products and competitive rates offered from both conventional lenders, like banks, and alternative lenders.

  • We handle all your mortgage needs online so you can do it all from the comfort and convenience of your own home. We make it easy to get started with your application and help you stay organized through the whole process with our mortgage dashboard.

  • Yes! All our mortgage services are free, from getting a mortgage pre-approval to financing your second home.

  • As a licensed mortgage brokerage, Lenderoo receives a fee from the lender once the loan is complete. All our mortgage services are provided to you for free.

  • Our team of licensed mortgage specialists are available to help you with all your mortgage needs. Our specialists will help you find the best mortgage product and complete your application.

  • No, we let our lending partners do what they do best: lend money. Lenderoo gives you direct access to these lenders so that you get the absolute best rate.

  • Lenderoo can offer mortgage products from lenders across Canada. Get started online and compare options from coast to coast.

  • Through our giveback program, Lenderoo gives a portion of the mortgage fee to a charity of your choice. Complete your mortgage with Lenderoo and pick your charity. Then, we’ll send them a cheque at the end of every fiscal year.

  • Yes, Lenderoo is licensed by the regulatory body in each of the provinces we operate. Also, Lenderoo’s mortgage advisors are all licensed professionals.

About our lending partners

  • Lenderoo works with over 57 lenders from across Canada. This includes conventional lenders, such as banks, as well as alternative lenders.

  • Mortgage brokers often have exclusive access to certain mortgage products. We work hard to develop relationships with lenders so that we can better serve you and find you the best lenders based on your needs.

  • Let us know who your lender is and if it’s one of our partners, we can loop them into our process.

  • With Lenderoo, you can apply online for a mortgage with your bank and use our mortgage dashboard to help you stay organized throughout the entire process. We also provide you with real-time updates so you can track the status of your application!

About the lending process

  • We use AI to shop the market to ensure you’re getting the best rate from Canada’s top mortgage lenders. If you find a better rate, we’ll match it!

  • Yes! At Lenderoo, we’re all about transparency. With our mortgage dashboard, track the status of your application and get real-time updates from start to finish.

  • Although these two terms are often used interchangeably, there is a difference. Pre-qualification is the first step in the application process where a mortgage broker will give you an estimate on the loan amount for which you’ll likely qualify. Then, the pre-approval stage is where a lender will provide a written statement indicating that you qualify for a mortgage based on your income and credit history.

  • No, pre-qualification is a “soft check” that won’t hurt your credit score. In addition, getting prequalified will calculate your affordability by looking at your Gross Debt Service (GDS) and Total Debt Service (TDS) ratios.

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using Lenderoo for their mortgage