About Monster Mortgage

Monster Mortgage is a Canadian brokerage that matches borrowers to lenders in order to find the perfect mortgage package.

Where are they located?

Monster Mortgage is headquartered in Toronto. Besides operating in Ontario’s capital city, Monster Mortgage provides their services to clients across the province.

Does Monster charge for their services?

As with most mortgage brokers, they do not charge for their services. They are paid a commission by the lenders they set their clients up with. When a broker works for free, it can take a load of your mind. It’s one less expense you have to worry about while you are mortgage shopping. Buying a home comes with more costs than just a down payment and legal fees; so when you don’t have to add broker charges to the mix, it’s always a relief.

Do they offer more than one type of mortgage?

Yes, Monster Mortgage has a varied line of products that they can offer their clients such as:

What does their website offer in terms of industry information?

Monstermortgage.ca has a special section that deals with information that borrowers might need regarding their potential and current mortgages. The “Mortgage Education” section of the website has articles and details to help clients understand everything about the mortgage industry and how they can get the most out of their funding.

Like most brokerages in Canada, you can apply for a mortgage directly on their site. Furthermore, Monster Mortgage has a contest through which you can win free mortgage payment (provided you register with the company), however there has yet to be a payout to any contest winners.

What lenders does Monster Mortgage have relationships with?

Monster has developed strong ties to 20 lenders to better serve their clients. These lenders are mostly Canadian banks; however, they do work with smaller financial institutions as well.

What sets them apart from other Ontario mortgage brokers?

Monster Mortgage prides themselves on their customer service. They claim to be able to service anyone at anytime by meeting clients wherever and whenever. This is not specific to Monster as most brokerages will meet with you according to your schedule, but customer service plays a big part in Monster Mortgage’s bottom line. A live customer service agent is on duty for 10 hours of the day, which is not uncommon for a brokerage of this size.

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