Mortgage Rate reviews from Reddit
Summary
We analyzed 177 Reddit reviews across 23 subreddits and 49 posts to rank the best Mortgage Rate brands recommended by redditors, including communities like r/AusFinance, r/PersonalFinanceCanada, r/MortgagesCanada, r/Albany, r/Connecticut. Top-rated brands include Mortgage (3.9/5), Broker (3.8/5), Mortgage Broker (4.2/5).
Stats
Reviews177
Subreddits23
Posts49
Brands97
Products12
177 reviews from
and
By Brand
/By Product
#1
Mortgage
3.9
(11)
"If you can get a 25% deposit, you'll unlock much better rates."
"I got an offer for 1.74%."
"Got 1.75% variable 5 year. Negotiate a bit more!"
"Mortgage rates are actually currently low. Our FTB purchase at 20% deposit was 2.1% in January."
"I'm pretty happy with the 1.84% I locked in just pre-pandemic on 90% LTV."
"I’ve just done a remortgage and had a LTV of 70%, which means I hit a certain bracket and was able to get lower % for my deal, 1.5%."
"I'm getting 1.99% 5-years fixed now, way ahead of closing."
"When I was a first time buyer in 2008ish I got a 2 year fix for around 5.5% on an 85% LTV."
"I follow this site to help me navigate the national average for mortgage rates."
"I'm betting most of us loan-ers (hehe) have a local mortgage broker we can pass your way."
#2
Broker
3.8
(11)
"Find a reputable broker. Don’t focus on rate so much but focus on a wholistic approach."
"You can speak to one or two brokers and then work with one."
"You can DIY by visiting the branch(es) or you can work with a broker who can find you the best deal."
"Best to go with a broker. I’m seeing 5.8% no discount points"
"You should shop through multiple brokers and banks and go with the best option."
"It’s to see a mortgage broker! Besides interest rates who knows what scheme might work in your favour."
"I’d advise seeing a mortgage broker. They’ll be able to find a lender at a competitive rate."
"I am a broker and would suggest seeing what the bank has to offer and speaking with a broker."
"Go through a mortgage broker..."
"If you absolutely must buy, go with a mortgage broker you trust by asking friends or family for a recommendation."
#3
Mortgage Broker
4.2
(9)
"I’ve gone through a broker for ours. They have access to no frills lenders that have low rates."
"I can recommend a good mortgage broker if you’d like"
"I can send you a contact number to a very good one that charges 1%"
"Use a broker. You’ll pay 1/4-1/2% more than a broker."
"Go through a mortgage broker for better rates. I used Joanne Russell."
"Talk with a broker, I’m also biased though haha"
"In most cases brokers beat everyone’s rate."
"Tell the broker about the other rate and ask him/her to match."
"I am a broker and 3% is fair."
#4
Commonwealth Bank of Australia
4.0
(6)
"6.02% with CBA at 50% LVR for PPOR."
"Currently with CBA for 5.91% with 70% LVR on PPOR."
"Call 1300219166 (Cba discharge team). Tell them you spoke to a broker who can get around 5.8% and you’re meeting them at the end of the week to finalise an application so need a discharge authority."
"5.97% at cba. Offset, 20%+ equity."
"Mine was changed automatically by them to 5.82 & 5.85% variable (loan is split in two, from house and land deals, and kept it like that so could fix one if we wanted) 5.82 is an offset"
"I’m on 5.69% with CBA. That’s with a $1.25 million loan balance and <40% LVR."
#5
Bank
3.8
(6)
"Think about what life events are happening in the next 5 years and what levers reduce costs."
"The best thing is to get a bank pre-approval directly or through a mortgage broker."
"For purchase price over $1 million, big banks have better solutions."
"We locked in at Newtown Savings Bank at 5.23% but that was back in January."
"Keep shopping. I got 5.85 - same credit but only 5% down."
"I had a client lock at 5.75 2 weeks ago with no points somehow that’s the best I’ve heard recently."
#6
Mortgage Brokers
4.0
(5)
"Personally I’ve never had any luck directly with a bank in getting the best rates and always dealt with an established mortgage broker."
"I would always check with mortgage brokers (2) in order to get a good feel for what you will see."
"I suggest you see a mortgage broker. it doesn't cost you anything, as they work on commission from the lenders."
"Mortgage brokers do the rate shopping for you so you don't need to talk to the lenders directly."
"Best way to approach this would be to speak with a mortgage broker, as we have access to many different lenders and rates."
#7
Wells Fargo
3.8
(5)
"Wells Fargo and Bank of America offer relationship discounts for bringing money over to a deposit account."
"Called around a few. Wells Fargo and valley bank seem to have the best but just want to make sure I’m not missing any."
"I got 5.6% on a jumbo loan with Wells. They also had the loan done in two weeks."
"Find a solid lender and get them to match a lower rate from a competitor."
"Wells typically has somewhat more aggressive rates than BofA in my experience. I recently got 6.125% from Wells for a 30 year fixed jumbo."
#8
HSBC
4.0
(4)
"I have a loan with HSBC (Premier) at 3.11%."
"For investment i am getting 5.94 at hsbc after the latest cut. Standard loan account."
"They offered me 1.99% 5 year fixed or 1.69% for 2 year fixed."
"HSBC is doing a 5.89% but I don't know what the eligibility criteria are."
#9
Westpac
4.0
(4)
"I'm a lender for Westpac, and you should get at least 5.87% for under 70% LVR."
"Westpac will give your 5.99-6.05."
"Their best rates still don't compete with what the broker was able to get me (6.14% on 671k)."
"First home buyers or investors: Try UBank or Westpac, from my experience."
#10
Scotiabank
4.0
(4)
"Just got approved 4.14% Scotiabank in ON"
"Just closed 4.04% 3 yr fix Scotia uninsured 25 yr low ratio"
"Scotia offered 5.09% on a 3yr fixed."
"Scotia is offering APR of 5.11% through their app for both 3 & 5 year fixed."
#11
TD
3.8
(4)
"4.49% variable from TD."
"Ive had 4.99-5.06% on 3Y come back this past week for similar sized files depending on how far out closing is."
"I got 3 years fixed - 4.99% offer (30 years non-insured) from TD a couple weeks ago."
"TD offered 5.07% on a 3yr fixed."
#12
RMG
4.7
(3)
"3.89 3 year fixed with 7,200 cashback with RMG through our broker."
"I highly recommend RMG as a mortgage company."
"Prime minus 1.1%. Renewal. RMG"
#13
Local Bank
4.0
(3)
"I imagine with that high of a DP, local banks will get you pretty good rates for your business."
"Got 5.625% on a 7/6 ARM in early June."
"You should be able to get a sub-2.8% or even sub 2.5% rate."
#14
Bank of America
3.7
(3)
"Wells Fargo and Bank of America offer relationship discounts for bringing money over to a deposit account."
"I got a 5.25% 7 year ARM from BofA on a second property and it was a $1M loan."
"Generally banks will give the better rate."
#15
HSBC Mortgage
5.0
(2)
"HSBC just gave me 1.88 on a non-high ratio 30yr quick close mtg"
"HSBC doing 1.89% fixed 5yr on insured mortgages currently I believe."
#16
ATB Financial
5.0
(2)
"4.09% for 5 years fixed on 30 years amortisation"
"I just got a 5 year fixed with ATB for my new build at 3.9"
#17
Credit Union
4.5
(2)
"To get our interest rate down from 4.625% to 3%."
"Credit unions usually have the best rates."
#18
Broadview
4.5
(2)
"They absolutely had the lowest rates we could find at that time."
"Broadview and sunmark usually have the best rates in the area."
#19
Unloan
4.5
(2)
"Unloan is the single best variable home loan product"
"5.72% with Unloan at 80% LVR for IP."
#20
Wealthsimple
4.5
(2)
"I just got a 4.15% variable with Wealthsimple (Pine)."
"Good cashback based on your investment portfolio held at wealthsimple"
#21
SoFi
4.0
(2)
"SoFi is easy to work with and still get competitive rates. Likely below 7%."
"I got 5.25% in October with SoFi. Very easy to work with."
#22
Charles Schwab
4.0
(2)
"If you have money to move around, check Schwab. The 7/6 ARM is 5.625. You can get 0.25 discount if you move 250k in assets, and 0.5 discount if you move 1m in assets."
"That is also the rate Schwab will give you today on a 60% LTV Jumbo if you have $10m in Schwab."
#23
CIBC
4.0
(2)
"I got 4.29%, 3 year fixed with CIBC in Quebec with 20% down payment."
"CIBC offered 5.19% on a 3yr fixed for a similar sized mortgage to yours."
#24
TD Bank
4.0
(2)
"Variable 4.04 (Prime - 0.9) 5 year. I’ve shopped at TD Scotia and National Bank. All are giving me the same rate."
"Prime - 0.85. TD"
#25
ANZ
4.0
(2)
"5.74 ANZ"
"I have 5.9% at anz"
#26
BECU
4.0
(2)
"BECU publishes 6.625% on their site for 20% down."
"I have loan estimate and approval from 4 lenders. BECU is best so far"
#27
Sammamish Mortgage
4.0
(2)
"Try Sammamish mortgage. I got a 6% rate on a VA loan without points in July."
"I'd look at Sammamish Mortgage."
#28
National Bank of Canada
3.5
(2)
"National bank is offering 3.89 to new customers - Do your research"
"3yr fixed @4.09 with National Bank but they take forever."
#30
Bendigo Bank
3.5
(2)
"I'm with Bendigo Bank, i have 5.79% and also offset, 20%+ equity"
"Bendigo bank isn't typically a good rate they offer loans with a white label service."
#31
PHFA
5.0
(1)
"We are locked in at 5.875% with phfa in Pennsylvania."
#32
Mortgage Rate
5.0
(1)
"2.99% with a 1% fee is the best rate for alternative right now."
#33
RBC Investment Mortgage
5.0
(1)
"RBC 1.75% renewal on insured (high ratio) investment mortgage. 5 year variable."
#34
CanWise
5.0
(1)
"I got quoted 2.14 fixed, 1.3 variable from CanWise for an uninsured mortgage."
#35
CBA
5.0
(1)
"Our broker went with CBA at just over 2%."
#36
Premium Mortgage
5.0
(1)
"I’ve had great experience with them. Kristyn Kamber is down to earth, always available, and knows the industry inside and out."
#37
SEFCU
5.0
(1)
"I found that SEFCU (now Broadview) had the best rate along with TrustCo bank."
#38
Torrington Savings Bank
5.0
(1)
"They had really good rates compared to a lot of larger lenders."
#39
Martin Mortgage
5.0
(1)
"She was able to get me the best rate both times I shopped."
#40
Dave Your Mortgage Guy
5.0
(1)
"He's a straight shooter and has some great options."
#41
Guaranteed Rate Affinity
5.0
(1)
"I got a 2.99% fixed interest rate on a 30 year conventional loan."
#42
Beyond Bank
5.0
(1)
"3.2% and would highly recommmend."
#43
Umpqua Bank
5.0
(1)
"Some of my clients have had an interest rate as low as 5.25% with that program through Umpqua."
#44
Bank Australia
5.0
(1)
"Bank Australia to their clean energy renovate loan and they’re offering a discounted variable rate of 5.38% for the first five years"
#45
Bank of China
4.0
(1)
"Best bank rate is bank of China with 5.53% variable and offset"
#46
People's Choice Credit Union
4.0
(1)
"People's choice, racq, capricorn or Australia mural all 5.65 variable"
#47
Adelaide Bank
4.0
(1)
"5.69 at Adelaide Bank"
#48
Regional Australia Bank
4.0
(1)
"Regional Australia bank has done great rates at the moment. I’ve seen as low as 5.64% OO LVR < 70%"
#49
Bank of Queensland
4.0
(1)
"Personally I’ve got 5.94% with BOQ PPOR and 6.09% with Heritage IP."
#50
UBank
4.0
(1)
"UBank is very competitive for loan balances above a mil"
#51
Tiimely Home Loans
4.0
(1)
"Tiimely home loans and Up bank are advertising 5.99% with offset on their websites"
#52
Columbia Bank
4.0
(1)
"I got a much better rate from Columbia Bank than I did from anyone else."
#53
Willamette Falls Financial
4.0
(1)
"This dude had the lowest rate, tied lowest closing costs and closed in 14 days (really)"
#54
Guaranteed Rate
4.0
(1)
"I used Julee Felsman with Guaranteed Rate last summer to obtain 6%. Also an amazing friend and realtor in Portland is Elysse Ralph."
#55
NBKC Bank
4.0
(1)
"Just got 5.875% (with 0.875 points) with 20% down on a 15 year fixed through NBKC bank."
#56
Guild Mortgage
4.0
(1)
"We used Guild Mortgage and were happy with them. Especially like that they service the loan even after it gets sold."
#57
J.P. Morgan
4.0
(1)
"J.P. Morgan holds their private bank loans internally. They do not sell them off so you know you’ll be dealing with them for the entire loan."
#58
Better.com
4.0
(1)
"I recently got a jumbo at 5.7% at Better. 30 year, 5.8% APR. No closing costs except for title and taxes."
#59
Citizens Bank
4.0
(1)
"Citizens was at 5.125 10yr IO on Friday when I was looking at new 2.9M mortgage."
#60
Bank of America Private Bank
4.0
(1)
"Very recently closed a non primary mortgage with BofA Private Bank. Their Private Bank Custom Mortgage product was 5% fixed for 15 years 20% down."
#61
Third Federal
4.0
(1)
"Good experience."
#62
VA
4.0
(1)
"I just closed at 6.5% VA, which is supposed to be about a half point lower than traditional."
#63
Qudos Bank
4.0
(1)
"The best variable rate as a broker is 5.95% with Qudos Bank."
#64
United Wholesale Mortgage
4.0
(1)
"The broker was still the best rate+closing cost combo I got."
#65
Various Banks
4.0
(1)
"Go to banks, tell them ur current rate and ask them to beat it."
#66
Merix
4.0
(1)
"Was able to get 4.4% on a 5yr variable through Merix."
#67
Nesto
4.0
(1)
"4,29% / 5 year with Nesto"
#68
Canwise
4.0
(1)
"4.64% on a 5yr fixed with 35% as a secondary property."
#69
Radius Financial
4.0
(1)
"4.29% @ 5y Radius Financial closing in a few weeks."
#70
Wings Financial
4.0
(1)
"At least my credit union, Wings Financial, didn't."
#71
Freddie Mac
4.0
(1)
"Freddie Mac’s PMMS survey is the most reliable source of this information."
#72
ABC Home Loans
4.0
(1)
"Call 1 mortgage broker that has a bunch of great reviews."
#73
Ratehub Rate Tool
4.0
(1)
"Ratehub has the tool. I was literally just mucking around with it."
#74
Ratespy Rate Comparison
4.0
(1)
"Ratespy.com"
#75
Different Bank
4.0
(1)
"If you have good income just go to different banks."
#76
FHA Loan
4.0
(1)
"FHA with good credit could be under 6%."
#77
Small Company
4.0
(1)
"We went with a small company for our recent home purchase."
#78
Online Lender
4.0
(1)
"Shop online lenders, I had one try to quote me 6.75 on the same day I got 5.875."
#79
Schwab
4.0
(1)
"Schwab/RocketMortgage partnership has 6.375 with no points this week"
#80
Ratehub
4.0
(1)
"5.74 is ratehubs lowest advertised rate. I gone through my last 2 mortgages with them."
#81
Find a Mortgage Broker
4.0
(1)
"Findamortgagebroker.com"
#82
Comparison Sites
4.0
(1)
"You can check out comparison sites like Canstar, Comparethemarket, finder."
#83
Canstar
4.0
(1)
"If you want to know who has the best rate you can easily go on Canstar."
#84
RedFlagDeals
4.0
(1)
"There is a website called RedFlagDeals and there is a 'mortgage mega thread' where you can post the pertinent financial details."
#85
Big 5
4.0
(1)
"I have 5.07% for 3-year fixed with a big 5."
#86
PC
4.0
(1)
"PC actually had the lowest rate but TD matched it."
#87
Trustco
4.0
(1)
"Trustco is good and gives you a rate reduction if you have an account."
#88
BSNB
4.0
(1)
"BSNB was the lowest a couple years ago when I looked."
#89
Capcom
4.0
(1)
"CAPCOM lets you put down less than 20% with no PMI or early payment penalty."
#90
Sikorsky
4.0
(1)
"Lowest at Sikorsky right now seems to be 4.8%."
#91
PNC Bank
4.0
(1)
"They have good rates."
#92
Immotheker
3.0
(1)
"You could also visit a immotheker for some advice and checks with other banks (they have a list of banks they partner with), they work for comission though."
#93
OnPoint Community Credit Union
3.0
(1)
"I see OnPoint advertising 7.0%, Cascade at 5.49% but they don't specify the terms."
#94
Movement Mortgage
3.0
(1)
"Try movement mortgage."
#95
First Federal
3.0
(1)
"They had the lowest fees and rates by a lot."
#96
Variable Rate Mortgage
3.0
(1)
"People can get lower rates with a variable rate mortgage."
#97
Banks
3.0
(1)
"A lot of people in this channel always recommends to talk to a broker but I’ve always got better rates with banks."
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