Mortgages can be both a complicated concept and a complex process, so it’s easy to see how prospective borrowers might get lost. To combat this, Dominion Lending Centres (DLC), recently launched a new mobile app to make it easier for consumers to navigate the Canadian mortgage landscape.
The app, titled My Mortgage Toolbox, was created to be a pocket-sized mortgage guide for everyday Canadians. Touted as the first-of-its-kind for the industry, the program allows homebuyers to find a mortgage broker nearest them and get the best mortgage product at the lowest rate available.
"We're really excited to launch what we see as a game-changing app for the mortgage industry," said DLC President and CEO Gary Mauris. "The idea behind My Mortgage Toolbox was to make it simple for Canadians to manage the mortgage process by putting all the information they need in the palm of their hand.”
Some features of the app include an Affordability Calculator, a Minimum Down Payment Calculator, and a Stress Test Tool, among others.
DLC's VP of Operations Dave Teixeira highlighted that the product is also proof that they listen to the feedbacks of mortgage professionals – who are always looking for ways to make life more convenient for their customers. "We've listened to our mortgage professionals who are always looking for better ways to serve their clients, and again we are delivering industry leading tools and technology," he said.
TD Bank app now offers mortgage consultation
JLL Canada banks on tech to galvanize the real estate market
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate