About lender
Mortgage Architects is an established national mortgage brokerage in Canada. It assists homeowners in comparison of mortgage rates and privileges, designing a mortgage based on their needs, and understanding how to make their mortgages work for them.
Mortgage Architects works with a broker network — you can choose your province and mortgage broker to work with using Broker Search at the official website.
The company could offer over 50 lenders to choose the best mortgage rates and options. It could take you a couple of minutes to pre-qualify for a mortgage through the mobile app or website.
Mortgage Architects is a full-service brokerage that has helped more than 150,000 Canadian families with the best mortgage for their own homes. You could apply for a first home buyer loan, home renovation, buying a dream home, vacation property loans, mortgage renewal, debt consolidation, or equity takeout.
The company was founded in Mississauga, Ontario in 2008. The corporation's mission is to help people to achieve their own home ownership with the best mortgage rates and options they could have.
Pros and cons
Mortgage Architects helps homeowners in Canada to find and design mortgages based on their interests. The home loan process, especially for the first time, could be confusing, and using Brokerage services seems attractive, but look through this pros and cons review carefully to decide whether this mortgage solution suits you best.
Pros
Easy, secure, and quick online application
Over 50 lenders and their options
Convenient mobile app
A network of mortgage brokers to choose from
Mortgage variants picked up individually
There are important perks, but explore some drawbacks you should know before the deal.
Cons
You must carefully review the agreement and any documents before submitting it. Because different mortgage brokers and lenders have various conditions, options, and terms. It's always up to you what to choose to save your money.
Also, there could be fees like Brokerage fees that may affect your final expenses.
There are advantages and disadvantages of Mortgage Architects, but please note: you shouldn't fully rely only on the broker — try to calculate your debts, income, fees, and liabilities by yourself to choose the best mortgage solution. Understand your possibilities and future goals.
Loan conditions
Mortgage Architects deals with more than 50 lending institutions: major banks, credit unions, trusts companies, and other national and regional lenders which provide mortgage funding. This access ensures the ability to provide the most affordable, appropriate, and reliable mortgage based on clients' needs.
Loan terms vary from 6 months to 10 years, and rates range from 2.80 to 4.95% (could change and conditions may apply).
Mortgage types you could apply for with Mortgage Architects include mortgages for first-time home buyers, home renovation, property investment loans for a dream home or vacation property, equity takeout, mortgage renewals, and debt consolidation.
Methods of loan funding
With your mortgage broker, you could choose the most preferable lender and get your home loan financed. There are various banks and companies which have their requirements and conditions. The broker will assist you to understand how to make your mortgage work effectively, how to deal with a bank correctly, and how to go through the mortgage process for the first time and save your money.
