Finding the Best Mortgage Companies in Montreal – Expert Tips & Reviews

Navigating Mortgage companies in montreal market can be challenging—rapid rate changes, varied options, and multiple lenders make finding the right mortgage partner crucial. This guide breaks down the top mortgage companies, explains how Groupe Amar compares, and gives practical tips to secure the best mortgage deal in Montreal.

1. Montreal’s Mortgage Landscape: Banks, Brokers, and Digital Lenders

A) Traditional Banks

Montreal’s major banks—RBC, National Bank of Canada, Desjardins, HSBC, Laurentian, and others—dominate retail mortgage lending, offering both in-branch and digital tools.

• RBC: Canada’s largest bank, headquartered in Montreal, offering complete mortgage services

• National Bank: Quebec’s biggest local bank, headquartered in Montreal, with broad offerings including mortgage loans .

• Desjardins: Quebec’s largest financial co-operative, many branches in Montreal with flexible, locally-tailored mortgage programs .

B) Mortgage Brokers and Brokerages

Brokers offer access to multiple lenders, allowing borrowers to compare terms and rates:

• Multi-Prêts Hypothèques: Quebec’s top broker—over 250 brokers province‑wide and 12+ offices in Montreal—helping with mortgages, renewals, refinancing, and equity loans

• Dominion Lending Centres (DLC): A national broker with a strong presence in Quebec—11% market share, offering wide coverage for various mortgage types

• True North Mortgage (TNM): Calgary-based with an office in Montreal, salary‑based brokers, lowest‑rate guarantee, diverse offerings (e.g., vacation homes, reverse mortgages)

• nesto: A digital fintech broker based in Montreal offering online prequalification, a 150‑day rate hold, and a low‑rate guarantee with cash‑back incentives .

Other notable brokers include Hypothéca, CanWise, North East Mortgages, and apoint Hypothèque, each offering strong multilingual support and varied product lines

C) Lender-Broker Hybrids & Private Lenders

Organizations like First National (since 2008 in Montreal), Equitable Bank, and MCAP provide unique products—such as interest-only mortgages or HELOCs—often accessible through brokers

2. Groupe Amar’s Role in Montreal’s Mortgage Ecosystem

Groupe Amar, led by Elie Amar, functions as an independent mortgage broker based in Montreal. They provide:

• Personalized mortgage advice covering purchase, refinance, and renewal.

• Access to hundreds of lenders (banks, credit unions, trust companies).

• More competitive rates and customized terms compared to bank-only offerings

They offer notable benefits including:

• Mortgage rate guarantees and rapid quote access.

• Bi‑lingual (French/English) support—crucial in Montreal’s bilingual market.

3. Comparing the Major Mortgage Players

4. Real Montreal Insights

Montreal borrowers on Reddit note that digital brokers like nesto consistently deliver lower rates due to minimal overhead, and in some cases, Desjardins offers cash-back of up to 5.29% on 39‑month terms . Users emphasize that broker responsiveness often outpaces in‑bank service, making broker channels more effective for first‑time buyers .

5. Choosing the Right Mortgage Company

A) Define Your Needs

• First-time buyer: Look for pre-approval, down-payment guidance, bilingual support.

• Renewal/refinance: Focus on rate competitiveness and fee structures.

• Complex needs: Consider self-employed, investment, or reverse mortgage products.

B) Compare

• Rates: Ask for APR inclusive of fees.

• Terms: Prepayment options, portability, amortization limits.

• Service: Branch visits, online access, bilingual capability.

C) Use a Broker if:

• You seek variety and rate comparison.

• Your profile is niche (newcomer, self-employed, less-than-perfect credit).

• You want help managing paperwork and negotiating with lenders.

D) Use a Bank if:

• You have a long-standing relationship and want simplicity.

• You prefer in-person branch support.

6. Steps to Secure a Mortgage in Montreal

1. Get Pre‑Qualified

   • Brokers like Groupe Amar, nesto, Multi‑Prêts offer quick pre‑qualification using your income and debt data.

2. Compare Offers

   • Confirm APR, term lengths, prepayment and portability options.

3. Inspect Fine Print

   • Analyze fees, penalties, and features like portability or cash-back.

4. Finalize Application

   • Submit documentation (income, credit, property details, down payment proof).

5. Close the Deal

   • For banks: Meet in branch. Brokers often offer e-signatures and handle lender coordination.

6. Post‑Closing Support

   • Brokers often stay engaged for renewals or refinancing.

7. Why Groupe Amar Could Be Your Best Bet

• Boutique approach: One-on-one consultations with bilingual, local brokers.

• Broad lender network: Access to banks, credit unions, and private lenders—likely results in a better deal.

• Responsive service: Personalized care, quick turnaround, strong client support.

• Ideal for newcomers or Canadians with specific needs.

8. Tips for Montreal Mortgage Success

• Know your credit score; lenders prefer ≥650 for best rates.

• Save for 20% down to avoid mortgage insurance.

• Understand Quebec’s provincial regulations on exclusivity and referrals.

• For renovators/investors, consult brokers experienced in equity, HELOCs, and cash-back structures.

• Montreal offers diverse mortgage pathways: big banks, digital lenders, brokerages, and hybrids.

• Brokers like Groupe Amar, nesto, Multi‑Prêts, True North, and DLC empower borrowers with choice, better rates, and tailored service.

• Banks are solid for borrowers who prefer continuity and an in-branch experience.

• For best results: compare quotes, know your desired features, check APR vs headline rate, and choose a partner aligned with your needs.

• Choosing the right Mortgage companies in montreal is a crucial step toward securing your dream home or refinancing your existing mortgage with favorable terms. Whether you prefer the personalized service of a trusted broker like Groupe Amar, the convenience of a digital lender, or the familiarity of a major bank, Montreal’s diverse mortgage market has options to suit every borrower’s needs. Working with an experienced mortgage broker can simplify the process, provide access to competitive rates from multiple lenders, and tailor solutions to your unique financial situation. Take the time to compare offers, understand the fine print, and partner with a mortgage company that truly supports your goals. With the right guidance and preparation, your path to homeownership or mortgage renewal in Montreal will be smoother and more rewarding.