3 Year Fixed Rate Mortgage
5 Year Fixed Rate Mortgage
Screenshots above as of August 24, 2017.
You may not have heard of Mogo. I haven’t. I came across it from an ad. They call themselves a financial technology company and they are based out of Vancouver according to their website.
They are a mortgage broker (see screenshot from their website above) and is currently offering a 5-year fixed rate mortgage at 2.34% (June 16, 2017).
Update: As of today, June 26, 2017, I see they have raised the rates to 2.39%.
Update: As of July 23, 2017, the rate is 2.84%.
Mogo also offers a free monthly credit score monitoring. That adds up to about $200 per year in savings. It’s important to note that this service won’t impact your credit score either, in case you may have heard that doing a credit check too often will hurt your credit score.
Mogo is one of the few companies that offers a complete mortgage application online. You don’t have to see anyone and it supposedly can be answered in minutes.
Please comment below if you’ve tried their application and share your experience.