About lender

CanWise Financial is a Canadian mortgage broker and lender operated by Ratehub Inc. The company was founded in 2014 and works with over a dozen lenders, from big banks to small financial organizations. The company has funded over $8 billion in mortgages.

Currently, CanWise has rebranded to Ratehub.ca as an in-house mortgage brokerage of Ratehub Inc.; CanWise is now responsible for lending services, while Ratehub.ca represents the brokerage and the lender marketplace.

Features

Now operating as Ratehub.ca, CanWise offers solutions for purchase, refinance, or renewal with a wide range of mortgage and lending options.

The company offers comparison tables to choose the option which best fits your needs. Over the decade, it helped millions of Canadians. Nowadays, the company operates in British Columbia, Alberta, Manitoba, Saskatchewan, Ontario, Northwest Territories, Quebec, and Yukon.

Pros and cons

Before applying for a loan or mortgage in CanWise, it’s worth considering the advantages and disadvantages of the borrowing process.

Pros

• Volume discounts.

• Wide range of mortgage solutions from dozens of lenders.

• Remote service with a broker by phone or email.

• Free service with no charge.

• An opportunity to choose weekly, bi-weekly and monthly payments.

• Several calculators are available on the company’s website.

Cons

• Limited lender options.

Loan conditions

CanWise Financial provides a dozen different mortgage options with fixed and variable interest rates ranging from 2.50% to 5.68%. It also offers lower rates on a limited basis.

Next, take a closer look at the company's methods of loan funding to obtain a complete view of the company’s activities.

Methods of loan funding

There is a transparent application structure. The application process can be completed online in less than 15 minutes.

The applications process has five stages:

1. Selection of the preferred loan and filling in the required information about the mortgage type.

2. Filling in additional information like full name, email address, the number of applicants, and current property.

3. Providing additional personal information: employment history, address history, and existing mortgages

4. Filling in additional information about personal finances.

5. A phone consultation with one of CanWise’s mortgage experts.

CanWise’s experts help homebuyers find a suitable mortgage and negotiate with lenders.