Lendwise offers a digital-first mortgage experience connecting borrowers with competitive lenders across Canada
A Canadian mortgage lender and broker platform. Operating as a online platform lender, Lendwise focuses on originating mortgages through Canada's broker channel rather than direct-to-consumer sales. This model allows Lendwise to keep overhead low and pass savings to borrowers in the form of competitive rates and flexible products.
To access Lendwise's products, you work with a licensed mortgage broker who submits your application on your behalf. Lendwise underwrites the mortgage and services it after closing. Your day-to-day payment experience is virtually identical to a bank mortgage — you make payments, receive statements, and contact Lendwise for account management. The key differences are the rate (typically lower) and the penalty structure (typically simpler and cheaper).
This is one of the most important reasons borrowers choose Lendwise over the big banks. Unlike the Big Six banks' complex IRD calculations based on posted rates (which can produce penalties of $15,000–$30,000+), Lendwise's penalty approach is more straightforward and predictable. This matters enormously if life changes require you to break your mortgage before the term ends.
Lendwise is an excellent choice for borrowers who want to minimize their total mortgage cost, are comfortable working digitally, and have a straightforward property purchase or refinance. First-time buyers, repeat buyers upgrading homes, and existing homeowners renewing their mortgage are all strong candidates. If you're purchasing a unique property (rural acreage, mixed-use, etc.) or have highly complex income, some products may have limitations.
While comparing lenders, switch your day-to-day banking to KOHO. Free forever — no monthly fees, cash back on purchases. Save hundreds per year in banking fees.
Get KOHO Free — Code 45ET55JSYALast updated: March 2026. Ratings are editorial opinions. Rates indicative. Not financial advice.