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IntelliMortgage Review 2023: Get the Best Mortgage Rates in Canada

IntelliMortgage is an online Canadian mortgage broker that allows prospective mortgage borrowers and homebuyers to compare rates across multiple lenders on the same portal.

As a first-time homebuyer, finding the best rate that works for your situation can be tricky, particularly when the major mortgage lenders rarely post their most competitive rates.

This is where mortgage brokers come into play.

Mortgage brokers work with multiple lenders including big banks, credit unions, wholesale lenders, etc. to source the best rates for their clients.

This service normally comes at no cost to you the borrower, because the lender pays fees to the mortgage broker for processing your mortgage on their behalf.

When you are looking for the best mortgage rates in Canada, brokers like IntelliMortgage should be on your checklist!

Related: Homewise Review: Find Your Best Mortgage Rate.

How To Find The Best Mortgage Rates in Canada

Finding the lowest mortgage rate for a home you are looking to buy is now much easier.

In the past, you would generally approach your bank or credit union and speak to a mortgage advisor who will offer you a rate. More often than not, the mortgage rate they offer you is not the most competitive rate you qualify for.

Depending on your negotiation skills and client history with the bank, you may eventually be able to negotiate a better deal.

The challenge with this approach is that you really don’t know what the best mortgage rate is. Mr. A may be able to negotiate a 3.49% 5-year fixed mortgage rate, while Mr. B gets the same mortgage (and terms) for 3.70% at the same bank.

So, if you are the type of person who does not have the confidence, know-how, or connections to hustle for the best rates, you are stuck with the posted rate which is usually as high as the bank can profitably place it.

The good news is that nowadays, mortgage borrowers have more choices and flexibility when it comes to getting the best mortgage rates. Online mortgage brokers and rate comparison sites have made life easier for mortgage seekers.

Without leaving your home, you can visit their website and compare rates across hundreds of lenders, including banks, credit unions, and other non-traditional lenders who do not deal directly with clients on a one-on-one basis.

When you have found the lowest and most suitable rate for your mortgage needs, you can apply for it with the click of a button – all from the comfort of your home!

For example, on the IntelliMortgage website, you can enter your preferred mortgage term (e.g. 5 years), home value, mortgage amount, closing date, prepayment options, province, etc. After inputting the required information, the mortgage builder will show you the various “lowest rates” available from their lenders.

Click on the “Get Rate” button to create an account (or Log-in if you already have an account). You will be asked to answer basic questions relating to the type of mortgage you want; your personal details including address, job, income, assets, etc. Submit necessary documents and your application is done.

If there are no other issues, your application is usually approved between 24-48 business hours.

In general, documents required when you are purchasing a home include:

  • Income verification: recent pay stub, job letter, Notice of Assessment, etc.
  • Proof of down payment: bank statement, gift letter, deposit receipt, etc.
  • MLS listing of home you want to buy
  • Purchase Agreement: final signed purchase agreement
  • Void Cheque
  • ID: Government-issued photo ID

Intellimortgage is owned by Kanetix Ltd., a digital customer acquisition platform for insurance and financial services.

Intellimortgage Inc. is licensed in Alberta, British Columbia, Ontario, New Brunswick, and Newfoundland and Labrador.

Why Intellimortgage?

1. Best Rate Guarantee

They guarantee that their mortgage rates are “commonly the lowest in Canada and always in the best 1%.” Even better, if you get a lower rate elsewhere, they promise to beat it or pay you $500 in cash when your mortgage is finalized.

Let’s take a quick look at the rates on offer on September 5, 2021.

If you are in the market for a new home in Edmonton and decided to scan for the lowest rate available on IntelliMortgage. For a 5-year fixed mortgage rate on a $475,000 mortgage, you will find a rate as low as 1.65%.

For the same province and similar mortgage, the big banks have the following special offers:

  • TD: 2.44%
  • BMO: 2.44%
  • RBC: 2.44%
  • CIBC: 2.44%

And their standard posted rates are much higher at up to 4.79%!

2. Significant Savngs

When you get the lowest mortgage rates possible for your home purchase, you are invariably saving money – potentially lots of money!

On a $300,000 mortgage and 5-year fixed-rate, IntelliMortgage estimates that you can save up to $5,485 when you obtain your mortgage through them.

IntelliMortgage - Savings

They also have a mortgage calculator that you can use to compare savings across different rates. In addition, there are no fees to close a typical mortgage.

3. After-Approval Rate Guarantee

If after your mortgage rate is approved and another lender offers a rate that is lower by 10 basis points or more (0.1% or more) and similar terms, you are allowed to switch lenders at no cost before closing.

4. Closing Date Guarantee

IntelliMortgage guarantees that they will close your mortgage financing on time so that you can meet your closing date obligations. If not, they will pay you $500 following closing.

Of course, you also have to ensure that you get all required documentation in on time.

5. Bank-Level Security

They use bank-level security and encryption to secure your personal information.

Related: How To Pay Off Your Mortgage Fast.

You can use the widget below to see what offers are available in your area today:


IntelliMortgage is not alone in the online mortgage comparison and brokerage business. Other companies that offer fairly similar services include Ratehub, RateSpy, Lowest Rates, and Homewise.

Mortgage brokers like Canwise Financial, True North Mortgage, and Butler Mortgage qualify as well, even though they are not strictly mortgage comparison sites.

Note: Always read the fine print for more details. Posted rates may have different terms such as pre-payment terms, preapproval options, portability, lock-in-periods, etc.


Mortgage payments easily form a significant part of monthly expenses for the average Canadian homeowner.

Obtaining the best rate possible can help to significantly lower your monthly payments as well as enable you to pay off your mortgage faster in the long run.

As with anything else that has to do with your finances and life, always read the fine print and do your due diligence to ensure you are getting the best deal possible.

Related: Best Mortgage Rates in Canada.

Intellimortgage Review
  • Credibility
  • Competitive Rates
  • Ease of Use
  • Tools and Resources
  • Customer Service


IntelliMortgage offer a best rate guarantee. This means that if you find a lower rate elsewhere, they promise to beat it or pay you $500 in cash when your mortgage is finalized. I love guarantees! 😉

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Gravatar for Enoch Omololu, MSc (Econ)
Enoch Omololu, MSc (Econ)

Enoch Omololu is a personal finance expert and a veterinarian. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School (Scotland) and has completed several courses and certificates in finance, including the Canadian Securities Course. He also has an MSc. in Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch is passionate about helping others win with their finances and has been writing about money matters for over a decade. He has been featured or quoted in The Globe and Mail, Winnipeg Free Press, Wealthsimple, CBC News, Financial Post, Toronto Star, CTV News, Canadian Securities Exchange, Credit Canada, National Post, and many other personal finance publications. You can learn more about him on the About Page.

His top investment tools include Wealthsimple and Questrade. He earns cash back on purchases using KOHO, monitors his credit score for free using Borrowell, and earns interest on savings through EQ Bank.

8 thoughts on “IntelliMortgage Review 2023: Get the Best Mortgage Rates in Canada”

  1. Gravatar for Miguel (The Rich Miser)

    Hey Enoch,

    This sounds good! I used a mortgage broker when looking for my mortgage, and he was very helpful and found us a mortgage that I don’t think I would have found on my own. And now may be a good time to get a mortgage or refinance since, at least in the US, it looks like rates are only going up.

    • Gravatar for Enoch Omololu

      @Miguel: Yes, I agree that rates appear to be trending up going forward. I always recommend that new home buyers use a mortgage broker in order to get the best rates possible. Rates offered by the big banks are often less competitive. Every basis point counts when it comes to minimizing your mortgage payments and the overall interest paid.

  2. Gravatar for GYM

    Rate Hub is huge! Good to know there’s other options. I’m up for renewal this year so I’ll definitely check it out. I like ‘lowest price guarantees’!

    • Gravatar for Enoch Omololu

      @GYM: It’s great that there are several options to source for mortgage rates in Canada. The more the merrier, especially when rates are going up and you want to get the lowest, most-competitive rate possible. I wish you all the best with your renewal!

  3. Gravatar for fin$avvy panda @

    Hi Enoch!

    Thanks so much for putting this post together!

    Excellent information that’s useful for us, especially when we’re about to renew. We are going to take a look at intellimortgage within the next few weeks.

    It’s always important to look for the best rates. ?

    • Gravatar for Enoch Omololu

      @Finsavvy Panda: I am heartened to hear that you may find this useful when you renew… all the best with your renewal when it comes up!

  4. Gravatar for Adam Camp

    Hello Enoch, you had well described about the mortgage rates and the terms related to it. Thanks for sharing such an informative content. Keep sharing.

  5. Gravatar for Enoch Omololu

    @Steve: I agree and that’s good money which can be used to further pay down debt. Pretty much everything can be done online these days – and with the rates posted online, you simply go with whoever has the best rates for your needs.

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