The Best Mortgage Services in Ottawa

5 Best Mortgage Services in Ottawa

Are you thinking about buying your first (or second) home or want to make changes to your current mortgage? To help you, we’re going to be looking at the best mortgage services in Ottawa today.

We also have some helpful FAQs at the end of this article so make sure to read all the way through.

How Much Does a Mortgage Firm Charge in Ottawa?

If you need your home appraised, a mortgage firm in Ottawa can charge anywhere between $350 – $500 (plus HST). This is to determine the value of your property as compared to others that have been sold or are currently in the market.

We also made a table based on current Ottawa mortgage rates. Please note that these rates are based on an appraised $500,000 home value.

FIXED-RATE TERMESTIMATED RATE
1-year fixed rate1.79%
2-year fixed rate1.53%
3-year fixed rate1.63%
4-year fixed rate1.84%
5-year fixed rate1.89%

A good mortgage firm can recommend the best terms for your needs, whether it’s for short-term borrowing or if you aren’t risk-tolerant. 

So don’t be afraid to shop around for a reputable mortgage service company that’s upfront and transparent about its fees, process, and modes of communication.

The Best Mortgage Services in Ottawa

Now that you have an idea of the cost of getting professional advice, it’s time to take a look at what the best mortgage firms in Ottawa can do for you.

We selected the companies in this listicle based on the following criteria:

  • Has reasonable rates for different terms compared to most banks or brokers.
  • Has a solid track record and generally positive feedback from verified clients.
  • Provides great customer care by way of constant communication and helpful tools.

1. Mortgage Brokers Ottawa

Mortgage Brokers Ottawa's Homepage
SERVICESRenewal, pre-approval, renovation, investment, purchase, refinance, residential, commercial, remortgage loans, debt consolidation, property
ADDRESS300-1701 Woodward Drive, Ottawa ON K2C 0R4
CONTACT NUMBER613-798-1973
[email protected]
WEBSITEhttps://mortgagebrokersottawa.com/
OPERATING HOURSBy appointment

Though it has a physical address, Mortgage Brokers of Ottawa makes sure that potential clients can have as much information as they can get right on its website. For starters, It gives its most current rates as well as several handy tools like mortgage calculators and payment analyzers.

The company has been the recipient of the Ottawa Consumer Choice Award for 11 years in a row, which is quite telling of its service quality. To make things more convenient, it now offers a mobile app for both iPhone and Android users!

There’s a network of Accredited Mortgage Professionals across Canada that aims to help clients with everything from debt consolidation, new purchases, or refinancing existing properties. Even those with bad credit or bankruptcy can be aligned with lenders who can accommodate them.

A look at its current rates page shows competitive closed and variable rates which are lower or on par with Ottawa averages. Compared to a 2.79% one-year closed rate from banks, the company only gets 1.84%. 

The downside we see at the moment is that Mortgage Brokers of Ottawa recently increased its mortgage qualification rate from 4.79% to 5.25%.

Pros

  • Winner of the Ottawa Consumer Choice Award for 11 years in a row
  • Reasonable fixed and variable rates
  • Helpful information on the website
  • Mobile app for Android and iPhone users

Cons

  • Recently increased its mortgage stress test rates
  • No fixed operating hours
  • No BBB accreditation

Customer Reviews

Informative and cost-saving advice

“Thank you Greg Extence- (sp?)called in a panic and was reassured and redirected to go back to the bank. Was given informative and cost-saving advice. I think he mentioned he will be retiring soon but I sure hope he doesn’t. Truly a passionate and knowledgeable person! Amazing customer service.” – Mic Jules

Great team, very approachable and efficient

“Lianna Napolitano is amazing! I am very high maintenance when it comes to banking and she responded immediately to all of my questions, offered valuable guidance and made me laugh when I was stressed. Highly recommend. Great team, very approachable and very efficient.

I can’t thank her enough for her help!” – Kendra Sonnenburg

2. Mortgage in Ottawa

Mortgage in Ottawa's Homepage
SERVICESRefinancing, buying a home, first-time buyer, renovation loans, reverse, purchase, condo
ADDRESS2725 Queensview Drive, #500, Ottawa, ON K2B 0A1
CONTACT NUMBER+1 613-294-4475
[email protected]
WEBSITEhttps://mortgageinottawa.com/
OPERATING HOURSAlways open

The force behind Mortgage in Ottawa is Nick Bachusky, who wants to change how ⅓ of surveyed first-time Canadian home buyers felt about not being presented the best options back in 2015. He can also handle mortgages across Canada.

Today, he aims to be with clients every step of the way to assure them of focused and tailor-made services. His mortgage process includes an in-depth questionnaire that aims to understand the client’s mortgage needs, as well as an annual mortgage survey so he can serve clients better.

He also provides dozens of helpful articles and advice on his website for first-time homebuyers.

The downside to this is that his business could get easily inundated with clients since it’s essentially a one-man operation.

Still, Nick Bachusky’s unique approach to tracking his client’s mortgage information is pretty innovative. He claims to have been inspired by the Domino’s Pizza Tracker, only his tracker aims to be transparent about mortgage processes.

As for his rates, they’re not the best but they’re close to Ottawa averages. He provides a comparison on current bank posted rates for different yearly terms and there’s definitely a significant difference.

Pros

  • Innovative mortgage tracker
  • Reasonable rates
  • Offers helpful articles for first-time homebuyers

Cons

  • Could get overwhelmed with multiple clients
  • The website could use a chat messenger or app
  • No BBB accreditation

Customer Reviews

Made the home buying process enjoyable and unforgettable

“Nick was amazing! Jesse and I purchased our first home last month and Nick gave us the right tools and provided us with all of the necessary information that a first-time homebuyer should know. I am very thankful that Nick provided us with the lowest interest rate and made this home buying process enjoyable and unforgettable. Thank you again, Nick.” – Michelle and Jesse

Gave valuable advice on what to look for in a mortgage

“Nick is an excellent mortgage broker. As first-time home buyers, we had a bunch of questions about the process of getting a mortgage and the details of how it works, and Nick would respond to the questions almost as fast as we could think of them. He also gave us some valuable advice on what to look for in a mortgage as well as other aspects of the house-buying process. we would highly recommend him. In fact, we already have recommended him to other people!” – Evelyn W.

3. Wilson Team

Wilson Team's Homepage
SERVICESGeneral mortgaging needs, home equity, second buyer, self-employed, reverse, first home buyer, commercial loans, new to Canada, interest-only, debt consolidation, refinance, home equity, fixed and variable rate
ADDRESS174 Wild Senna Way, Nepean, ON, K2J 5Z5
CONTACT NUMBER613-440-0134
[email protected] 
[email protected]
WEBSITEwww.wilsonteam.ca
OPERATING HOURSMonday to Friday 9 AM – 9 PM
Closed on Saturdays and Sundays

The Wilson Team appends its company name with the equation “Knowledge + Wealth ₌ Freedom”. This is to underline its aim of providing clients with the kind of strong financial foundation that’s essential for a secure future.

It caters to a wide variety of clientele including new immigrants, foreign buyers, first-time homebuyers, construction mortgages, and people who’ve been recently separated or newly divorced. Aside from a comprehensive range of mortgage services, the company also provides investment offerings to clients. 

It’s got over two decades of mortgage brokerage experience to back up its services. The Wilson Team’s rates are competitive, as well: its five-year fixed insured special rate is 1.7% and its five-year variable special rate is 0.99%. 

Client feedback for the company typically mentions speedy communication and great results. However, it would really be helpful to have an app or chat messenger on the website for any mortgage concern that arises.

Pros

  • Helpful tools and resources on the website
  • Serves a wide range of clients
  • Provides investment offerings
  • Reasonable rates

Cons

  • Open only on weekdays
  • The website could use a chat messenger or app
  • No BBB accreditation

Customer Reviews

Fast service, would highly recommend

“As a first-time homebuyer I had the pleasure of working with Kevin, would highly recommend. Fast service and was very happy with my final number. Thanks, Kevin!” – Corey Martin

Always quoted the best rates

“The Wilson Team comes from a place of service, not sales. We are repeat clients for all our home and refinancing needs for the last 15 years. Any questions are promptly answered in full and we are always quoted the best rates that have been unmatched from any other inquiries we have made to other lenders/companies. In some cases, they made the impossible for us-possible. Above and beyond every time.” – Phillipa Maitland-Heath

4. Chris Allard Mortgage Team

Chris Allard Mortgage Team's Homepage
SERVICESBusiness loans, mortgage renewal, purchase, debt consolidation, credit counselling, equity refinancing, commercial mortgage
ADDRESS110-150 Isabella Street Ottawa K1S 1V7
CONTACT NUMBER613.706.2380
[email protected]
WEBSITEhttps://www.chrisallard.ca/
OPERATING HOURSMonday to Sunday 7 AM – 11 PM

The Chris Allard Mortgage Team is made up of licensed mortgage agents with the aim of helping clients navigate the confusing world of home buying and refinancing. The firm offers the usual gamut of services for residential, commercial, private, and bad credit mortgages. 

His services are meant for first-time homebuyers, clients who need credit counselling, debt consolidation, equity refinancing, and mortgage renewal options. The company has a network of over 50 financial institutions so clients can get the best offers for their mortgage needs. 

Chris Allard offers potential clients a free, no-obligation consultation so they can see if his services are a good fit for their needs. 

Its operating hours are from Monday to Sunday between 7 in the morning and 11 at night. However, its team of agents promises to be available to clients regardless of the time of day via mobile phone or email.

This is all well and good, but an app, messenger, or virtual mortgage tracker might prove to be more helpful in the long run.

Pros

  • Free, no-obligation consultation
  • Open seven days a week
  • Agents promise to be available to clients at all times

Cons

  • The website could use a chat messenger or app
  • No specialized mortgage services for clients
  • No BBB accreditation

Customer Reviews

Goes above and beyond to provide answers

“Exceptional and professional services by a very friendly Phil. Looking for people whose number one goal is to help you and benefit you is hard these days. Phil goes above and beyond to understand your situation, provide you with answers to all your questions, and take time out of his busy day to bat for you as a broker.” – Salah Masad

Kind and thorough guidance during mortgage research

“As a first-time homebuyer, I was worried about the mortgage process but Phil made the entire experience so easy and pain-free. He was always available to answer any questions that we had and made sure that we fully understood each step of the way. I was extremely happy with the kind and thorough guidance of Phil during our mortgage research and he found us a great rate! With his help and prompt follow-ups we were able to purchase our first home in Carleton Place and are so happy with the outcome.” – Kendra Dezenosky

5. Verico Capital Mortgages

Verico Capital Mortgages' Homepage
SERVICESMortgage renewal, buying a new home, property refinancing, pre-approvals, construction and build mortgages, commercial mortgages, reverse mortgages
ADDRESS260 Hearst Way #200, Kanata, ON K2L 3H1
CONTACT NUMBER613-228-3888
[email protected]
WEBSITEhttps://capitalmortgages.com/
OPERATING HOURSBy appointment 

We’re happy to review a Better Business Bureau-accredited mortgage company in this listicle. Verico Capital Mortgages has had a consistent Aᐩ rating with BBB since 2001 in its over two decades of being in business.

It stands by the belief that mortgage services are more than just rates, but are all about minimizing inconveniences, increasing personal wealth, lowering borrowing costs, and giving clients peace of mind.

The company offers resources on its website for first-time homebuyers and those who want mortgage solutions. As with other mortgage services, it throws in a mortgage calculator but an app or tracker would’ve come in handy, too.

As for its rates, they’re slightly higher than Ottawa averages (2.4% for one year) and are subject to change at any time. But since it’s partnered with around 35 lenders, the company promises to get clients the best mortgage rates in the market.

Pros

  • Provides handy resources on the website
  • Partners with dozens of lenders
  • BBB-accredited, Aᐩ rating

Cons

  • Slightly higher rates compared to others
  • No mortgage app or tracker offered
  • No messenger or chat app on the website

Customer Reviews

Helped with multiple mortgage placements

“Stefan and his team have helped us with multiple mortgage placements. They are always going the extra mile and I would highly recommend anyone to look to Verico for their mortgage financing needs!” – Kathryn Leroux

Pulled off a miracle

“You went above and beyond! My anxiety was hitting the roof with my previous mortgage company and you pulled off a miracle! A week before closing! I am so happy and grateful to you.

I can guarantee that I have and will continue to sing your praises to everyone I know. And will see you again when my term is up to help me out again. Thank you with all my heart!” – Nancy Blackburn

FAQs About Mortgage Services in Ottawa


The best mortgage service in Ottawa can go beyond providing you with the best rates and actually ensuring your financial future.

Did we leave out a good mortgage service in this listicle? Send us a message so we can review it, too.

You can also check out other financial products and solutions we’ve reviewed in the past: