Toronto-based startup promises DIY mortgages in 10 minutes

Do your own mortgage

Mortgages can be complicated and intimidating, but one Toronto-based company is trying to make it easy enough to do yourself.

Do Your Own Mortgage‘s platform offers a 10-minute application form that acts as a gateway to rates and mortgage products from 50 competing institutions. As the service allows its users to take control of their mortgage, the company rewards them with cash rebates.

“Buying or refinancing a property can be costly. Some consumers are left with high penalties, legal fees and even last minute expenses,” said Lionel Khoury, president and founder of DYOM. “We provide a ‘no-strings attached’ cash-rebate to help empower these clients. This means customers can put the money towards anything they desire, such as renovations, a vacation, investing or topping up their RSPs.”

Users are supported through the application process with a personal underwriter, and the company maintains security of its service through 256-bit SSL encryption, and all licensed mortgage agents available through the platform undergo stringent background checks.

“Our user-friendly application and portal allows borrowers of all levels to complete and monitor their online mortgage application online,” said Khoury. “We remove the intimidating negotiation process by allowing client’s to choose the lender and the products they wish to have.”