Innovative Mortgage Search Tool Reshaping Canadian Loan Industry

MortgageApplicationCanada.com, which features a new mortgage search tool, is changing the way many homeowners get a loan. The system works much like a Google but for mortgages by searching the input specific loan details and then pairing the users.

StarBuzz Weekly, Toronto-MortgageApplicationCanada.com, which features a new mortgage search tool, is changing the way many homeowners get a loan. The system works much like a Google but for mortgages by searching the input specific loan details and then pairing the users with the right lender match. Like other more elaborate search engines, the direct usage costs are free although like other search engines, advertisers can sponsor listings.

The site viewership is up and growing from numbers of users looking for a second opinion on their mortgage. An anonymous source within the company added, “We actually didn’t anticipate this many people were craving a free resource for mortgages. It’s such a simple site 4 page site that we were really caught off guard in the beginning stages when our web servers were swamped with requests. I guess it makes sense though in hindsight. When you go to a bank, how do you know that your lender is offering you what works for you or what makes them their biggest commission? You honestly don’t know. It’s only when you can compare dozens of lenders side by side that they start working for your business like they ought to.”

Lenders have been long known to only offer their best rates to mortgage clients who are knowingly shopping around. Banks often term this their “preferred rate” and generally prefer to not have to offer this to their applicants. The straightforward system pre-emptively shops mortgage offers using a basic search algorithm that helps push this preferred rate. Similar systems exist throughout Europe and in the USA. However, this is the first tool of its kind in Canada.

To see the free mortgage search tool, visit http://www.mortgageapplicationcanada.com or visit the actual online mortgage application used for searching.