How is a MogoMortgage different from a mortgage from a bank or broker?

Last Updated: Sep 11, 2017 03:12PM PDT

We’re a broker, but a different kind of broker. We’ve built an experience that isn’t just about getting the mortgage, but also about having the mortgage. It takes a few weeks to get a mortgage, but you’ll have that mortgage for 25 years, so we thought: why not improve that part of the experience too?

The old way of getting a mortgage was tedious: go to a bank or broker, meet with someone, followed by a whole lot of back-and-forth. We know you’re busy, and we know that’s a hassle. The Mogo way of getting a mortgage: a convenient, online experience, from applying all the way through to your first monthly payment. Use your computer or phone, from wherever you want.

Our mortgage specialists are fully trained in mortgages and are salaried—not commissioned—meaning they focus on support, not sales. They work hard to find you the best available interest rate and mortgage product in Canada, whether that's through a bank or a non-bank mortgage lender.

Some lenders advertise higher rates and make you fight to get their best ones. Why post a 4.5% rate when your real rate is 2.5%? Yeah, we don’t get it either. The rates we show you are our actual rates. Always. And they’re market-leading.
We'll guide you through applying for a mortgage, buying your home, and even afterward as you make your payments. This is all to help you keep on track and get mortgage-free faster, while making your mortgage experience convenient, easy, and painless. Once your mortgage is funded, we’ll even send you a bottle of bubbly so you can celebrate. Told you this is a different kind of mortgage experience.
Once you have a MogoMortgage, we keep you motivated and informed in your personalized MogoAccount dashboard. Within your dashboard, you’ll see your progress on your mortgage payments, your pre-payment options, and your term broken up into digestible and less intimidating 1-year periods with rewards (like dinner on us) built into your payment progress. Unlike most lenders' dashboards (the ones who have them, anyway), ours is focused on motivating and rewarding you for on-time payments. Something that banks don't really do.

MogoMortgage is offered by Mogo Mortgage Technology Inc. o/a MogoMortgage (Ontario: FSCO License No. 12836)

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