Frank Mortgage launches customer-centric online mortgage marketplace

The Toronto-based company helps consumers upgrade their mortgage experience with a modern-day solution.


Monday, September 13th. Ontario - One of Canada’s newest mortgage experts has officially revealed its one-stop mortgage marketplace for the digitally-savvy mortgage consumer. 


Totally transparent. Super quick. Entirely virtual.

The new Frank Mortgage platform is a Canadian-built and Canadian-owned service currently offering services to prospective homeowners throughout Ontario. Frank also has plans to quickly expand across Canada for nationwide coverage. A market first, Frank Mortgage is the only truly unbiased digital mortgage marketplace that allows users to control their own mortgage borrowing journey. With tools to educate and an open and transparent marketplace, users can find their best rates and mortgage options in a manner tailored to their needs.


It is an app that can be accessed on iOS devices as well as browser, and it is completely free to download with no hidden fees. 


Frank Mortgage empowers mortgage applicants by providing access to a range of products from several lenders. As an impartial broker, the company offers clear and concise information to provide a quick and convenient process for all consumers. Users are additionally supported by the ability to connect with licensed agents who can offer their support and expertise throughout the journey.


The company's approach is based on the growing trend for borrowers to search for solutions online and their willingness to use technology to satisfy their borrowing needs. The old, traditional methods requiring face-to-face meetings and salesforce based originations don't meet the needs of today's tech-savvy consumers.


Millions of Canadians apply for mortgages each year, but many continue to waste time and money with traditional and outdated approaches. Frank Mortgage uses automated technologies to deliver clear results in a secure, speedy, and entirely digital environment. Making educated decisions has never been more convenient. It allows prospective homebuyers to dedicate their time to finding their dream properties instead.


Frank mortgage presents a digital one-stop-shop for borrowers where they can use our educational tools, shop the market for their best mortgage and complete their mortgage journey at their convenience. This is all done in a secure, confidential environment that respects the customer and places them in the driver's seat. No bias, no sales pressure. The customer comes first!


From researching the market to finalizing a deal, the answers are Frank.


About Frank Mortgage

Frank Mortgage is a new mortgage marketplace platform launched in 2021 that aims to help consumers find a better way to find their best mortgage. By leveraging the power of FinTech, the company has built a customer-centric mortgage marketplace that places an emphasis on the customer. The online solution delivers transparency and simplicity, allowing users to spend less time on finding a mortgage and more time on finding a home.


Media Contact
More information is available at https://www.frankmortgage.com/.

Alternatively, Frank Mortgage press contact Donald Scott can be reached at 647-406-8052 or  don@frankmortgage.com.


Mail queries should be addressed to Frank Fintech Inc., PO Box 43559,

Toronto, ON  M4G 4G8.

License #13204

Best Mortgage Rates

Fixed
Variable
in

0.00 %

3 Year Fixed

Get Rates

0.00 %

5 Year Fixed

Get Rates
Check More Rates

About The Author

A man in a suit and striped shirt is smiling in a circle.

Don Scott

Don Scott is the founder of a challenger mortgage brokerage that is focused on improving access to mortgages. We can eliminate traditional biases and market restrictions through the use of technology to deliver a mortgage experience focused on the customer. Frankly, getting a mortgage doesn't have to be stressful.

Related Posts

Can Fixed Mortgage Rates Go Lower?

By Don Scott • November 25, 2024
With the Bank of Canada in a rate-cutting cycle, many Canadians expect mortgage rates to continue to drop. This may be true for variable mortgage rates since they track changes in the Bank of Canada rate. However, fixed mortgage rates don’t directly follow the Bank of Canada’s overnight rate. Instead, they are tied to the bond market, which has shown mixed signals recently.
A clock and a house are on a seesaw.

Variable-Rate Mortgage (VRM) vs Adjustable-Rate Mortgage (ARM)

By Don Scott • November 20, 2024
Now that rates have begun to decline again, many Canadian mortgage borrowers are considering variable interest rate options. These types of mortgages can save money in the right circumstances, but they come with risks that need careful evaluation.

Amortization Period Impact

By Don Scott • September 26, 2024
How the Amortization Period Impacts Your Mortgage The recent announcement from Ottawa allowing first-time homebuyers to secure an insured mortgage with a 30-year amortization period, up from the previous 25-year limit, has significant implications for borrowers. This change highlights the fact that different amortization periods are possible and that it is important for Canadian mortgage borrowers to understand how the amortization period affects the cost of their mortgage. While extending the amortization period can reduce monthly payments and provide a more affordable entry point into the housing market, it will increase the total cost of the mortgage over time. Let’s delve into the details and explore how borrowers can address this issue effectively. The Basics of Amortization Amortization refers to the length of time it would take to pay off your mortgage at the current mortgage rate. The amortization period assumes regular monthly mortgage payments. Each monthly mortgage payment covers both the interest on the loan and a portion of the principal amount. After every monthly payment, the remaining principal balance of your mortgage is reduced by the portion of the payment that goes toward principal. Over the amortization period the remaining principal balance will decline to zero. You will hear and read that the longer 30-year amortization period is good for mortgage borrowers. However, there is a trade-off in selecting the longer amortization period that borrowers need to be aware of. The benefit is that the longer the amortization period, the lower the monthly payments. Stretching out the repayment schedule results in a lower required payment per payment period. The longer amortization period can help borrowers qualify for a mortgage. A longer amortization may also provide some payment relief for existing borrowers struggling with a mortgage renewing at high rates. The trade-off to this short-term payment reduction is that the longer amortization results in a higher amount of interest paid over the life of the loan. In other words, the short-term relief from a longer amortization comes at a cost. Numerical Examples Let’s consider a mortgage of $400,000 with an interest rate of 4%. The chart below shows the difference in monthly mortgage payments for different amortization periods.