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Homewise Review: Make your next mortgage digital

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The team at WealthRocket only recommends products and services that we would use ourselves and that we believe will provide value to our readers. However, we advocate for you to continue to do your own research and make educated decisions.

Welcome to our Homewise review. Homewise is a digital mortgage solution that makes the whole mortgage application easier. They also handle renewals, refinancing, and reverse mortgages.

What is Homewise?

The lowest rates are hard to find in the older system because each lender (bank or otherwise) would generally have a few options available. So, it was often up to the applicant to negotiate a low rate for themselves.

Both issues are solved by Homewise.

First, there is no need to leave your home to explore mortgage rate options. Once your application is approved, you’ll be connected with a personal mortgage expert who will guide you through choosing various mortgage interest rates that Homewise collects from more than 30 different lenders.

Second, the interest rates are already the lowest they can be. Homewise partners with over 30 different banks and private mortgage companies to find the best mortgage rate for each customer. This rate is determined by several factors including credit history, income, other existing loans, etc.

Homewise is paid by the banks they partner with for each referral. So, there’s no incentive for the mortgage experts from Homewise to sell customers on high rates and thereby earn a larger commission for themselves. It serves the lender and Homewise better to match each customer with a mortgage rate that is right for their situation and at the rock-bottom of the current market.

That kind of transparency is a major feature lacking in many other mortgage application processes where the loan officer or broker is incentivized to sell you the mortgage rate which gives them the highest commission.

Homewise Overview

Homewise was founded in 2018 and has racked up awards and great reviews ever since. Jesse Abrams is the founder and CEO of Homewise, and in his words, “our goal is to provide the best mortgage experience for every home buyer in Canada.”

The Ontario-based company searches its partner’s mortgage rates and presents them to applicants once they have been approved. Then, a personal mortgage expert from Homewise walks the customer through the process of selecting the perfect mortgage for them and sticks with them through to the closing of the sale, start to finish

As mentioned above, Homewise isn’t motivated by commissions made on mortgage rates. They are paid by their lending partners on a referral basis. So, if no customer chooses a particular bank because their rates are too high, then Homewise and that bank receive no money. A low rate is in everybody’s best interests.

If that weren’t enough, Homewise services are 100% free of charge.

Homewise Pros & Cons


  • Free, personalized service. It’s hard to complain about a company that does everything pro bono.

  • Privacy is key at Homewise, your financial information is all secured and encrypted. They do not share any of the personal information with third-party advertisers.

  • Low rates and no negotiating are the starting point. You get to choose the best option for you from among the lowest mortgage rates available in the country.

  • Convenience can’t be overstated these days. People are busy, and if one more service can be simplified, then it will gain popularity, especially a process as important as finding a mortgage. Homewise does all their work via online or over the phone, so there’s no need to walk out your front door.

  • They’re Canadian!


  • No face-to-face interaction can be a detractor for some. The admittedly slower, more laborious process of scheduling and meeting with a bank or mortgage broker to nail down the “p’s and q’s” of your mortgage can provide valuable time to think and consider your situation and determine the best path forward.

  • There are no rates to review until after you’re approved. Each customer must complete a five-minute questionnaire before they are shown available mortgage rates. Once you’ve been approved, it can take two or three days for a Homewise mortgage expert to contact you

  • The rates you’re offered may not be the best available. Homewise collects mortgage rates from 30+ banks and private brokerages, however, it’s possible that a smaller bank, credit union, or company that isn’t partnered with Homewise is offering a lower rate.

Homewise Features and Benefits

In our Homewise review, we wanted to go over a few notable features that Homewise offers to its customers


Homewise advertises high-end, bank-level encryption and security to protect the financial and personal information of their customers. This can offer peace of mind during an process that can often be stressful – buying a house is no joke.

100% Free

Everything Homewise does is free to customers. There is no charge for their services and no commission fee. Homewise is paid based on referrals to their lending partners.

Homewise is for Everyone

Mortgages come in all shapes and sizes, and Homewise is set up to assist customers with various types of mortgages. When they started in 2018, they only offered mortgages for first-time home buyers, but have significantly upgraded their options since then. They now offer approvals, pre-approvals, refinancing, switching, and reverse mortgages. There is a “Learn” tab on the Homewise website which provides people with an education on all things “mortgage”. You’ll find helpful blogs and videos explaining everything first homebuyers and seasoned flippers need to know. The Homewise website also included a mortgage calculator to handle the arithmetic of what house a customer could afford, determine closing costs, and more.

How to apply

Your application takes around five minutes of your time. You are required to fill out a questionnaire including specific financial information and questions about your current living situation and your job.

Once your application is approved, you’ll be matched with a mortgage expert who will stay with you and help you through the process until you’ve closed on a house.

Communication with your personal mortgage expert is done over email and phone, you never need to leave your house to schedule a meeting.


Our Homewise review has shown that this Canadian online mortgage company can be a massive step up when shopping for mortgage rates, applying for a mortgage, or working on refinancing/switching your existing mortgage to save money. Homewise takes what can be a chore and makes it an experience that will save you time and money.

While perhaps not the solution for everyone, Homewise has helped generate a new wave of mortgage solutions for a new generation of people and technology.

Homewise Rates

Unlike other online mortgage companies, Homewise doesn’t display mortgage rate options on its website. These rates aren’t disclosed to customers until after their application has been approved. While it may be slightly annoying not to find any quantifiable numbers on their page, mortgage rates can vary significantly from person to person depending on their financial situation, homeowner status, and credit score. Homewise’s application questionnaire probes all these sectors of a person’s life to determine the right mortgage for them.

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