Categories > Money

Banking, Credit Cards, Investments, Loans,

The 5 Best Mortgage Brokers in Toronto

The 5 Best Mortgage Brokers in Toronto

  • Qualifications - We selected mortgage brokers in Toronto with licenses, professional affiliations, and a good reputation in the local community to ensure a smooth experience.
  • Scope of Services - We selected providers offering a variety of services to cater to different types of clients.
  • Reliability- We picked brokers who are quickly available, easy to communicate with, and respond quickly to ensure genuine interest in their client's financial situation.
  • Fees - We chose services with transparent fee structures to ensure reliability.

Going to a broker isn’t a requirement when you’re dealing with mortgage loans in Canada. But there are advantages to hiring one, like saving you money in the long run! 

Navigating the mortgage market is a daunting task, and that’s why sometimes, we need help. Hence, we need the top mortgage brokers in Toronto to assist homebuyers and property investors and act as a middleman to secure the best deals. 

Check out our picks who will help you finance your dreams!

1. True North Mortgage

True North Mortgage's Homepage

Services: Purchase Plus Improvements, Investment Properties, Vacation and Secondary Homes, Non-Resident Mortgage, Home Equity Line of Credit, Etc.

Website: https://www.truenorthmortgage.ca/

Address: 145 King St W, Toronto, ON M5H 1J8

Contact Details: 1-877-778-4772

Office Hours: Monday – Friday: 9:00 am – 5:00 pm

Google reviews score4.9/5
Trust Analytica reviews score4.9/5
Total reviews5/5
Score consistency5/5
Qualifications5/5
Scope of services5/5
Reliability4.5/5
Availability4/5
Fast communication5/5
Fees (A higher score means better value)5/5

Pros

  • Has two locations in Toronto
  • Offers in-person and virtual appointments
  • Has mobile agents
  • Accommodates different nationalities
  • Rates are 0.20% lower than competitors

Cons

  • King Street location has a small team

What we like about True North Mortgage is how long they’ve been serving Canadians. They’ve been around for over 17 years—speaks about their expertise in the local mortgage market, no?

We also like that they’re accessible with many branches in the country, with two in Toronto: King Street and Richmond Adelaide Centre. Convenient, eh?

Speaking of accessibility, we highly appreciate True North Mortgage for providing in-person and virtual appointments. They have virtual agents you can talk with no matter where you are in Canada.

Additionally, we found it impressive that you can speak to someone in your preferred language. It’s a very helpful feature, which earns them big points from us!

On top of that, we were glad to learn that they have mobile brokers who will travel to your location. Another advantage is they can accommodate your schedule!

However, we noticed their King Street location has a limited number of mortgage brokers. It’s a downside for us, considering Toronto’s competitive real estate market.

Nonetheless, we think we can let that slide, considering they’re highly accessible in Toronto! It’s a feature that not all brokers have.

Also, we appreciate their Toronto mortgage brokers for being attentive to each client’s needs. Our surveys showed that they were easy to talk with, which resulted in a smoother process.

True North Mortgage also offers a wide range of services, whether you’re a first-time buyer or have bad credit. We like that they’re a one-stop destination for your needs!

Lastly, we commend their Rate Guarantee, where they’ll beat a competitor’s rate or give you $500. But you might have a hard time looking for low rates since they’re 0.20% lower than their competitors.

2. Get A Better Mortgage

Get A Better Mortgage's Homepage

Services: First-time Home Buyers, Mortgage Refinance, Mortgage Renewals, Self Employed Borrowers, Etc.

Website: https://getabettermortgage.com/

Address: 642 The Queensway, Toronto, ON M8Y 1K5

Contact Details: 416-252-9000

Office Hours: Monday – Friday: 8:30 am – 5:00 pm

Google reviews score4.6/5
Facebook reviews score4.9/5
Total reviews4/5
Score consistency5/5
Qualifications5/5
Scope of services5/5
Reliability4/5
Availability3/5
Fast communication5/5
Fees (A higher score means better value)5/5

Pros

  • Has an A+ BBB rating
  • Offers custom solutions
  • Provides competitive price financing options

Cons

  • Only one commercial specialist
  • No virtual services

We appreciate Get A Better Mortgage for getting a BBB accreditation, which we believe shows their dedication to client satisfaction. Impressively, they earned an A+ rating!

They don’t have a large team of mortgage brokers available, which is a drawback for us during busy months. They only have one commercial mortgage specialist, unfortunately.

Nonetheless, we admire the team’s helpfulness. Their past clients were grateful for how easy the communication was—it shows their dedication, don’t you think?

As for their services, we appreciate they cater to first-time homebuyers, mortgage refinance, and mortgage renewals. That’s not all well liked, though!

They focus on offering custom solutions to their clients, which we greatly appreciate. It can be challenging for self-employed individuals to qualify for a mortgage, and that’s why we appreciate Get A Better Mortgage for assisting.

Moreover, they have access to a tonne of lenders who offer many mortgage options for self-employed Torontonians. Plus, we like their competitive price financing options for small businesses and freelancers, so monthly payments won’t be hard on the wallet.

Although Get A Better Mortgage is one of our picks because of their flexible solutions, we hope they can add virtual services in the future. We believe that would be helpful for clients with busy schedules or those who want to move to Toronto.

3. Kim Gibbons – Mortgage Superhero

Kim Gibbons - Mortgage Superhero's Homepage

Services: Private Mortgage Solution, Debt Consolidation, Self-Employed Solution, First Time Homebuyer, Etc.

Website: https://mortgagesuperhero.com/

Address: 210 Victoria St, Toronto, ON M5B 2R3

Contact Details: 416-400-8107

Office Hours: Monday – Friday: 9:00 am – 6:00 pm

Google reviews score4.6/5
Total reviews3/5
Score consistency4/5
Qualifications5/5
Scope of services4/5
Reliability4/5
Availability4/5
Fast communication4/5
Fees (A higher score means better value)5/5

Pros

  • Featured by several media outlets
  • Offers low mortgage rates
  • Offers many residential solutions
  • Responds within 24 hours of application

Cons

  • Past issues with delayed response

Kim Gibbons of Mortgage Superhero is a pretty well-known mortgage broker in Toronto. We can confidently say that because she’s earned several features in the media.

Some of the media outlets that featured her are the Toronto Star, CTV News, Global News, CBC News, and the National Post. Don’t you think it speaks about her real estate and mortgage knowledge?

But the thing we were most concerned about is she’s practically a one-woman team, being the only broker at Mortgage Superhero. While that doesn’t affect her skills in any way, the problem lies with her delayed responses, based on our client surveys.

Nevertheless, we’ve seen a massive improvement since these issues. For us, it shows her dedication to client satisfaction by improving her communication skills.

Plus, Gibbons now responds within 24 hours of your online mortgage application. It’s quick and easy now!

We were pleasantly surprised at the many services she offers despite not having a large team of mortgage brokers. She works with first-time homebuyers, self-employed individuals, and investment property owners.

Notably, Gibbons offers low mortgage rates, sometimes as low as 1.99% for a 5-year term. It’s helpful as it can save you more money than other brokers in Toronto!

4. Mortgages.ca

Mortgages.ca's Homepage

Services: Renewal and Switch/Transfers, Home Equity Line of Credit, Investment Properties, First-Time Homebuyers, Etc.

Website: https://mortgages.ca/

Address: Suite 305 145 Front St E, Toronto, ON M5A 1E1

Contact Details: 647-795-8700, info@mortgages.ca

Office Hours: Monday – Friday: 9:00 am – 6:00 pm

Google reviews score5/5
Total reviews5/5
Score consistency5/5
Qualifications5/5
Scope of services4/5
Reliability5/5
Availability5/5
Fast communication5/5
Fees (A higher score means better value)5/5

Pros

  • Award-winning company
  • Featured by several media outlets
  • Has an A+ BBB accreditation
  • Quick to respond

Cons

  • Doesn’t offer commercial project solutions

One of the things we like about Mortgages.ca is their A+ BBB accreditation. For us, that speaks about their dedication to making their clients happy.

Besides that, we found it impressive that they earned trust from various media outlets over the years. They were featured in the National Post, Rogers TV, CNC News Network, and Top Million Dollar Agent.

That’s not the main reason we included them on our list. They’ve earned various awards as well, showing their service quality!

Some of the awards they earned are the CMP Top 75 Brokers in 2016, 2017, and 2018. They also won the 2020 Mortgage Architects Award of Excellence and a 2020 Finalist for Broker of the Year from the Canadian Mortgage Awards.

Their awards shouldn’t have been surprising since many clients expressed satisfaction due to their service quality. They’ve even earned loyal clients, which shows how they take care of everyone they serve!

Mortgages.ca caters to first-time home buyers, individuals who want a second home, and those who want to invest in rental properties. However, they don’t specialize in commercial project mortgage solutions as they mainly cater to rental properties.

Still, we appreciate their brokers arranging the best rates for their clients. It helps that they have access to many lenders to find the best solutions!

Finally, we want to give Mortgages.ca more points because they’re attentive and quick to respond! It’s some of our favourite qualities that we heard from our surveys.

5. Monster Mortgage

Monster Mortgage's Homepage

Services: First Property Purchase, Second Property Mortgage, Mortgage Renewal, Refinancing, Etc.

Website: https://monstermortgage.ca/

Address: Suite 302, 20 Holly St, Toronto, ON M4S 3B1

Contact Details: 416-480 0234, info@monstermortgage.ca

Google reviews score4.7/5
Total reviews5/5
Score consistency5/5
Qualifications5/5
Scope of services4/5
Reliability5/5
Availability5/5
Fast communication5/5
Fees (A higher score means better value)5/5

Pros

  • Part of CP24 “Hot Property” show
  • An award-winning business
  • Featured by several media outlets
  • Partners with Corbo Kelos Group
  • Offers cash rebate

Cons

  • Doesn’t offer many commercial services

Monster Mortgage has been around since 1997—that’s over 26 years of experience! It’s impressive how they’ve helped over 100,000 Canadians.

Another impressive factor is their dedication to educating Canadians about making real estate decisions. In fact, they’re part of the CP24 “Hot Property” show, which started in 2002!

In addition, they’ve been featured in the Globe and Mail, National Post, and Canadian Real Estate Magazine. In our opinion, this shows that they’ve earned the trust of Canadians.

Monster Mortgage has also won Mortgage Brokerage of the Year by the Canadian Mortgage Award three times! That’s an impressive feat, eh?

It’s pretty helpful that they have access to many lenders, including big banks, if that’s what you prefer. Also, it means they can find you the best financial solutions that will meet your needs.

Although we appreciate their focus on residential real estate, it’s a disadvantage for commercial clients. They don’t have a lot of commercial real estate services, but they offer refinancing if you want to buy an investment property.

We also appreciate their large team, allowing them to cater to many Torontonians at once. It can also help you find the mortgage broker you feel most comfortable with.

Furthermore, they partner with RE/MAX Hallmark’s Corbo Kelos Group. As a result, working with their real estate partner gets you a 1% cash rebate of the amount of your mortgage, which you’ll receive after closing the deal with your real estate agent.

FAQ about Mortgage Brokers

Related topics