Mogo Fixed Rate Mortgage

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.

Fineprint

1. Assuming no additional optional fees are charged, the Annual Percentage Rate is the same as the Interest Rate. Rates are subject to change without notice at anytime. Offer may change or be withdrawn at any time without notice. Other conditions and restrictions apply.
2. The comparative rates shown on our site may not be the provider’s actual rates and are not guaranteed to always be updated in a timely fashion.
3. To apply for any Mogo product, you must open a MogoAccount and pass identity verification. The MogoAccount is currently only available to individuals in BC, AB & ON who have reached the age of majority in their province of residence. The MogoMortgage application is only available to MogoMembers that have met our underwriting requirements.
4. Free credit score is provided by Equifax and is only available to MogoAccount holders that have passed identity verification. The Equifax credit score is based on Equifax’s proprietary model and may not be the same score used by third parties to assess your creditworthiness. The provision of this score to you is intended for your own educational use. Third parties will take into consideration other information in addition to a credit score when evaluating your creditworthiness.
5. Depending on your offer, the lender may have different types of data available for us to show on your dashboard.

 

Source:

https://www.mogo.ca/mogo-mortgage