Buying a brand-new home is exciting, but sorting out the mortgage can feel like a maze. That’s why Partners Homes has teamed up with Homewise, a modern, digital-first Canadian mortgage brokerage that compares options from 30+ banks, credit unions, and alternative lenders, then pairs you with a dedicated advisor to guide you from pre-approval to move-in, at no cost to you.
Below, you’ll find the real, practical benefits our buyers get by starting their mortgage with Homewise, and how this partnership helps you lock in a great rate, keep your build on track, and close with confidence.
One 5-minute application. Dozens of lenders. Real guidance.
Homewise’s online application takes about five minutes and kicks off a market search across 30+ lenders to match you with the best combination of rate and features for your situation (first-time buyer, move-up, self-employed, or refinancing). From there, a personal Homewise Advisor handles the paperwork and keeps you updated, so you do not have to chase banks. Homewise doesn’t charge borrowers a fee; it is paid by the lender when your mortgage funds.
Bonus for Partners Homes clients: Homewise offers a partner experience that lets our buyers start an application through a simple link, while we stay in the loop on milestones, which helps us coordinate financing smoothly with your build and possession timeline.
Get pre-approved early: know your budget and protect your rate
A mortgage pre-approval helps you understand your maximum purchase price, expected payments, and conditions before you commit. It can also hold an interest rate for 60 to 130 days depending on the lender, giving you a buffer if rates rise while you finalize selections and upgrades. Major Canadian lenders commonly guarantee a rate for up to 120 days, which is useful in a volatile rate environment.
Homewise streamlines this. Start online (no credit check for the initial application step), then your advisor confirms documents and lines up a pre-approval tailored to your build budget and timeline.
Navigate Canada’s mortgage “stress test” with confidence
All federally regulated lenders must qualify you using the minimum qualifying rate (MQR), which is the greater of your contract rate plus 2% or 5.25%, to ensure you can handle potential rate increases. Homewise’s multi-lender access and advisory support help you structure the file so you pass the test comfortably, for example by optimizing amortization and product features.
Choice beyond your bank without extra legwork
Working only with your primary bank can limit options. Mortgage brokers like Homewise compare multiple lenders and products, often securing better overall borrowing costs, with no direct cost to you in standard cases. That means more choice on prepayment privileges, penalties, portability, and payment flexibility, not just rate.
Alberta-smart closing guidance
Buying new in Alberta comes with a few local nuances. Unlike other provinces, Alberta has no provincial land transfer tax, but you will pay Land Titles registration fees and a mortgage registration fee if applicable. As of October 20, 2024, the variable portion of these fees increased to $5 per $5,000 of property value and of mortgage amount, plus a $50 base fee per registration. Homewise and your lawyer will ensure these costs are budgeted in your closing plan.
Smarter use of first-time buyer tools
If you are a first-time buyer, Homewise advisors can help you coordinate programs and savings vehicles that still exist today:
- Home Buyers’ Plan (HBP): Withdraw up to $60,000 from your RRSPs for a down payment, with repayment over time. You can combine this with an FHSA if eligible.
- FTHBI note: The federal First-Time Home Buyer Incentive shared-equity program stopped accepting applications in March 2024, so it is no longer an option. This avoids confusion as you plan your down payment.
Ready to get started?
Tap our Partners Homes × Homewise experience to kick off your pre-approval in minutes! You will compare lenders, lock in a competitive rate, and get a friendly advisor who keeps your mortgage and build moving together, so possession day arrives right on schedule.
FAQs
Is there any cost to use Homewise?
For standard mortgages, no. Homewise is paid by the lender when your mortgage funds. If an alternative or private solution is required, your advisor will outline any fees up front.
Does pre-approval guarantee final approval?
No. It is conditional on your documents and the property meeting the lender’s criteria, but it does give you a budget and typically a rate hold window, 60 to 130 days, to shop and plan.
Do rate holds really help if rates fall?
Yes. Rate holds protect you if rates rise. If rates fall before closing, many lenders allow a lower rate to be applied at funding.