Canada’s Best Mortgage Lenders

Canadian Mortgage Professional (CMP) Magazine recently conducted a survey of the best non-bank mortgage companies in Canada. Here are the results for the following three categories:

A) Approval/Loan Turnaround times:

First Place: Macquarie Financial

Second Place: GMAC Residential Funding

Third Place: Optimum Mortgage

B) Interest Rates

First Place: Macquarie Financial

Second Place: FirstNational Financial

Third Place: Merix

C) Product Range

First Place: Firstline Mortgages

Second Place: GE Money

Third Place: Merix

 

While getting the best interest rate is important, there are other factors that are important as well. Time is of the essence in real estate transactions. This is especially true in a hot market. You could lose your deal if your lender takes its time in giving your the approval.

Product range is also an important consideration. A financial institution that offers a variety of mortgage options will likely have the right product to fit your financial plans.