Rocket Mortgage Canada, a digital mortgage broker and a division of Rocket Companies, announced it is expanding its services to become a mortgage lender, seeking to streamline and expedite the complex home buying process for Canadians. This move is geared towards leveraging technology to accelerate the traditional mortgage process.
The company's latest initiative involves a proprietary, technology-driven platform that offers clients a faster, more transparent experience compared to the conventional, paper-heavy mortgage process. This platform allows clients to track the progress of their loans in real-time, providing regular updates through a digital portal. Customers will thus have access to comprehensive insights throughout their home buying journey, boosting their confidence in making one of their most significant financial decisions.
"The Rocket Mortgage brand is synonymous with innovation. For too long Canadian homebuyers have endured an inefficient and old way of financing a home that we are eager to transform," Hash Aboulhosn, president of Rocket Mortgage Canada, said. "As a lender, we are now able to impact every part of the home loan experience – from working with a mortgage agent to find the right mortgage for you, to easily submitting the application, through approval and closing. Because of this, our clients will have the best journey possible and get the keys to their new home quickly."
In its new role, Rocket Mortgage Canada intends to offer a variety of loan options tailored to the unique needs of each homebuyer. These include programs designed for first-time homebuyers, such as the opportunity to purchase a home with a down payment of as little as 5%. Beyond offering home loans, the company plans to connect clients with a full suite of related services, including real estate agents, insurance providers, and lawyers.
Despite the expansion of services, Rocket Mortgage Canada will continue to operate as a broker, partnering with other valued lenders to connect homebuyers with the best mortgage solutions based on their individual circumstances.
Currently, the company is offering its own mortgage products in Ontario, where it is headquartered, with plans to extend its services to other provinces rapidly.
