The Best Mortgage Lenders in Canada

March 1, 2012

Shopping for a mortgage? Chances are two things are particularly important to you:

  1. A low interest rate
  2. A reputable lender who you won’t regret working with down the road

I get it. I’m on the frontline every day with my clients helping them satisfy these two needs.
In this post I’m going to share with you 4 of my top mortgage lenders I like to recommend to my clients.

Why it’s important to select the best mortgage lender?

If you’re going to be paying a mortgage lender every month for a very long time you want to partner with a lender worthy of your business. And if you’re thinking ahead, you want to team up with a lender that offers great rates plus flexible terms and useful features.

In fact, 82% of my clients end up renewing with their lenders.

The reality is the differences between lenders is super subtle. On the surface it would appear that lenders are very similar.
However, what sets lenders apart is the value add: exceptional customer service, flexible terms, useful options .

There is no deluxe, luxury mortgage lender so it’s tricky and subjective to determine the best mortgage lender.

I can however share my 10 years of mortgage brokering experience. Not only am I basing my shortlist on lenders who consistently offer low rates, something you’re understandably interested in, but also, levels of customer service and flexible mortgage terms. While low rates are fantastic, you also want to partner with a mortgage lender that offers you the ability to make changes, refinance, or discharge your mortgage.

The 4 Best Mortgage Lenders


CMLS is one of Canada’s oldest independently owned mortgage service companies. Founded in 1974 they are now celebrating 40 years of successful business. With offices across the country, they provide a wide range of commercial lending services, residential mortgages and institutional services.
Why I like them:  CMLS’s back end runs like a machine. The underwriters are experienced and well organized which makes for smooth transactions up to closing. After closing the good service continues for all of your on going requests, changes and needs.


Merix Financial has built their business by leveraging on the expertise and knowledge of their mortgage broker partners. In the Mortgage Broker Survey where brokers are asked to rate mortgage lenders, Merix Financial ranked second overall. They’re a clear winner when it comes to consistency of competitive rates.
Why I like them:  Each year brokers are asked to rank Canadian lenders.  Merix has topped the ranking two years running for good reason. Why should this matter to you? Their customer service is top notch and their rates are never to be over looked.


Street Capital is a relatively new comer to the Canadian mortgage landscape but in 5 short years they have already become Canada’s 7th large mortgage lender. Street Capital prides itself on offering consumers competitive products and interest rates with an exceptional level of service. Their customer support is dedicated to making your experience a positive one.  I have experienced this first hand while working with their team.  Street Capital is a solid lender. You can’t go wrong with them. Click here to download the Street Capital client brochure.

Why I like them: Street Capital often has the lowest posted rates which is critical to keeping your penalty costs low if you have to break your mortgage in the future. They also have a great web portal allowing you to manage your mortgage more effectively. A more subtle perk is that they often waive appraisal requests. Not always, but in the majority of cases if  Street can confirm the value internally they will waive an appraisal. Good for you because it keeps money in your pocket.


Last year Canadian mortgage professionals voted MCAP as their preferred lender. If you’ve been through the mortgage application process before you know how confusing and tedious the experience can be. Common sense lending, good policy procedures and great customer support staff makes MCAP a great option.

Don’t recognize any of these lenders names?

Perhaps you’re not familiar with these lenders. That’s normal and a question I’m often asked is “I haven’t heard of this lender, how do I know this lender will stay in business?” Jokingly I respond by saying: “great, if they go out of business you want to hope they lose your mortgage file too!”
The reality is that your mortgage is a fully enforceable contract until the end of the term. So the interest rate, terms and conditions can’t change. Secondly, your mortgage represents a valuable asset to the lender and even though the operation might go out of business there are always banks willing and able to pick up a solid mortgage portfolio.

Shopping for a mortgage right now?

I’m broker/owner of Tridac Mortgage on the Danforth in Toronto.
I’m proud of my 5-star Google review rating and I’d love to work with you.

For mortgage rate quotes and to work with any of these lenders fill in the form below to get started.


Christopher Molder

Mortgage Broker

Christopher is a mortgage broker based in Toronto, Canada. And a son of a broker too. He’s a second generation mortgage broker. Following in his father’s steps he joined the family mortgage business straight out of university.