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If you’re unsure of where to begin your mortgage search, our Breezeful review might help. Here we’ll introduce you to a platform set to be the starting point to your home-buying journey.
Finding a mortgage can take a long time, but there are ways to speed up the process. You could use a digital mortgage broker like Breezeful instead of going to various banks and credit unions for quotes. Breezeful provides an AI-powered service that sets you up with the best mortgage for your needs and budget.
The Fintech era has granted us the convenience of doing most things online, like depositing cheques and finding home loans. As a result, whether you’re a first-time or seasoned homebuyer, it’s a good idea to make use of these resources.
In this review of Breezeful, I’ll go over their service, including the benefits, drawbacks, and cost of utilizing it.
Let’s dive right in.
Low rates, alternatives to homeownership, and unique mortgage solutions are features of Breezeful’s service that prospective homeowners can benefit from.
If you have a non-traditional income or work as a freelancer, they can assist you in finding a mortgage. They can also help if you have recently migrated to Canada or are thinking about relocating to another province. Their service is unbiased in that they could help you even if you don’t have excellent credit.
They have over thirty lending partners, including monoline lenders like First National and major financial institutions like TD Bank.
Breezeful is far from a comparison site. They offer a personalized service through which you’re connected with a mortgage expert. The expert will help you get the best home loan for your budget and needs.
Because they provide their entire service over the phone, via email, and on their website, you won’t have to wait in line for hours for a consultation. Also, there are no charges for using their service.
In the next part of this Breezeful review, we’ll take a closer look at the pros and cons associated with Breezeful’s service offering.
Breezeful offers a great service to those looking for great mortgage rates. In this Breezeful review, we’ll highlight what customers really liked about their service.
Rather than pulling your credit record multiple times, they run one credit check to get rates from various lenders.
You can complete an application entirely online. I appreciated how quick it was and that I could upload my documents instantly. This eliminates the need to visit a physical location to complete the application.
Because they work with various lenders, the conditions to qualify for a mortgage are less stringent.
Rather than meeting with several lenders to find the best rate, Breezeful provides rates from their lending partners, and all you have to do is compare them.
To use Breezeful’s service, you won’t have to pay anything out of pocket. They receive a commission from your lender when you sign up for a mortgage.
They also offer free calculators on their website, including closing costs, gross debt, and total debt service ratios.
You will have access to a human mortgage expert for help and advice.
They cater to a wide range of needs. You can work with them to secure a mortgage refinance or renewal, a home equity line of credit or a private mortgage. They also offer their service to individuals who want to rent to own or get a pre-approval for a mortgage.
AI-powered platforms are less likely to give you rates based on your demographics. Instead, you will receive recommendations based on the information you provide.
Breezeful offers a great service but there’s always room for improvement. Here’s what customers had to say about their Breezeful review.
It is not possible to meet with a mortgage advisor in person.
Although they can get you the best rates from over thirty lenders, they may not work with the financial institution you prefer.
They present you with various mortgage rates from which to choose. However, you may not get the precise mortgage details because your information has yet to be evaluated by a lender.
The quality and reliability of any service are paramount. So, in this Breezeful review, we’re highlighting what you can expect in terms of their service quality.
Breezeful has earned a reputation for offering high-quality service despite its recent entry into the mortgage broker industry.
Professionalism, responsiveness, and value are the highlights of their service. This is according to the forty-plus google business reviews submitted at the time of writing this Breezeful review. Customers also appreciated the timeliness and knowledge of the mortgage experts in many Breezeful reviews.
Breezeful finds mortgage lenders for you depending on your circumstances and home-buying needs. They work with over thirty lenders across Canada. Among them are small banks and established financial institutions, such as Scotiabank and DUCA.
They provide their mortgage broker service online to people all around Canada. Outside of Ontario, they work with licensed co-broker partners who will be your final point of contact.
Regardless, Breezeful handles most of the work while adhering to lender and issuer guidelines.
The home loan services they specialize in are listed below.
Knowing how much you can afford can be helpful during the home-buying process. It allows you to look for a home while staying within your budget. It also makes it simple to find a home that suits your personal needs.
Breezeful can help you get pre-approved for a mortgage. You can compare rates from a variety of lenders in one spot and choose the best one.
Refinancing your mortgage is something you might consider at some point. This could be to change from a fixed to a variable interest rate or to get better terms. You might also choose to tap into your home’s equity or consolidate your mortgage with other debt, such as a personal loan.
Breezeful can assist in mortgage refinancing. They can determine whether refinancing is a wise option for you, considering costs such as legal and property evaluation fees.
You’ll have the choice to renew your mortgage when it’s about to expire. You might also want to negotiate better terms with your current lender or look for a new bank.
Mortgage renewals are also part of Breezeful’s expertise. Make sure you start the process months before your mortgage is due to expire.
Their process involves analyzing whether switching lenders will be beneficial for you. Also, with specific lenders, they can do away with property appraisals and have the lender cover transfer costs.
An alternative to getting a mortgage, renting to own allows you to rent for a period. And you then have the option of purchasing before the lease term ends.
This is a potential alternative for self-employed individuals or poor credit who cannot get a mortgage.
Breezeful can explore options for you through their rent-to-own program.
A line of credit gives you access to a set amount of money, and it works like a credit card. Except with a HELOC, your house serves as security for the loan. You can combine the credit with a mortgage or use it to purchase a new property.
Breezeful can get you the most competitive rates from their variety of lending partners.
You can get a second mortgage instead of refinancing or taking out a home equity line of credit. A second mortgage allows you to borrow money while using your house as collateral.
Most banks are hesitant to approve second mortgages because of the risk. Therefore, Breezeful can contact lenders on your behalf to find you the best second mortgage.
A private mortgage allows you to borrow money from a pool of private funds given by a group of people or a mortgage company. If you are self-employed or work on a contract basis, these are easier to get than typical mortgages.
Determine what costs you will incur in the last stages of buying a home. Closing costs include appraisal fees and title insurance.
There are also costs unique to the property you’re buying that aren’t levied at the time of closing. These include an Estoppel Certificate Fee that is charged when purchasing a condo outside of Quebec.
Breezeful has an online calculator you can use to determine your home’s closing expenses based on its property value.
Breezeful’s service is free to use.
They don’t charge you because they are paid a finder’s fee when you sign up for a mortgage with one of their lending partners.
The best method for new customers to reach Breezeful’s customer support is to apply on their homepage.
You’ll be able to reach Breezeful by phone, email, and text. Their contact details are available on their website’s contact us page.
They also maintain a blog with helpful information on mortgages, real estate, and personal finance.
Also, all Breezeful customers are set up with a personal mortgage advisor.
We felt that an integral part of our Breezeful review should be a step-by-step guide to getting started on their platform.
You’ll have to fill out an online application to apply for Breezeful’s mortgage broker service. You can complete the entire process online without having to visit any offices.
The application will take you about five minutes to complete, according to Breezeful. In my experience, it took me a little longer than that, but it wasn’t because of a problem with their platform.
I’ll take you through their application procedure from start to finish below.
Tap the “apply now” button on the homepage.
They will inquire about your income, expenses, and credit history. And they will need details on the property for which you seek a mortgage.
There will only be one credit check while dealing with Breezeful.
You’ll be matched with a mortgage expert. They’ll provide you advice on the mortgage you’re looking for. You’ll also discuss the interest rates they might be able to offer you based on the information you submitted in your application.
You will need to upload documentation to verify your identity and income, such as a photo ID and paystub. And, if applicable, a purchase and sale agreement.
This is where you decide if you want to move ahead with Breezeful. They will then give you either a formal pre-approval or approval for the mortgage.
Breezeful’s mortgage advisors will also be available for guidance after you get your mortgage and while you’re in the process of closing.
While Breezeful is a terrific option for many people, you might feel that you want to try using a different mortgage broker. The good thing is that you have a few options available to you.
Homewise is an online mortgage solution. They work with over thirty different lenders to find the best mortgage rates for you.
They specialize in pre-approval, refinancing, and more. Also, their application procedure is quick and straightforward. There is no credit check required to use their service, as with Breezeful.
Canwise is another Breezeful alternative. To get you the best mortgage rates, they work with sixteen lenders, including central banks, credit unions, and trust firms.
They are an award-winning mortgage broker that has been in business since 2014. They specialize in home equity lines of credit, refinancing, and second mortgages. Individuals wishing to acquire fixer-uppers can benefit from their services as well.
It’s essential to think about all your lender options during the home-buying process. While you can shop around for different rates on your own, there are services like Breezeful that can help.
You can save time and money while avoiding a negative impact on your credit score. This often results from several hard pulls of your credit report when consulting different lenders.
I recommend using an online mortgage broker like Breezeful, whether you’re a first-time homebuyer or planning to buy a second house. They’re an excellent place to start, and you can end up with attractive mortgage terms.
Also, suppose you can’t get a mortgage anywhere else or are afraid of receiving a high-interest rate because you’re a newcomer to Canada or have poor credit. In that case, Breezeful might be a good option for you.
Our Breezeful review covers this online mortgage broker service, as well as the benefits, drawbacks, & cost of using their service, & much more.
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A mortgage broker is a licensed professional that can help you find a mortgage that suits your financial situation. A mortgage broker does this by comparing different lenders and mortgages.
Unlike mortgage specialist at banks who only promote their mortgage products, mortgage brokers act as middlemen between you and the lenders, negotiating the best mortgage on your behalf.
No, Breezeful is not a broker. They aggregate data on dozens of lenders across Canada using AI to find the mortgage that’s right for you. A partnered mortgage expert determines the suitability and finalizes the mortgage for you.
Refinancing your mortgage is something you might consider at some point. This could be to change from a fixed to a variable interest rate or to access a better term. If mortgage rates are lower than the rate you have currently, you should consider refinancing your mortgage.
Yes. Like any time you purchase a home, your credit rating and history will get assessed, which can contribute to your refinancing being denied. Your loan approval will depend upon the details you give about your income, expenses and credit history.