Toronto proptech startup Perch announced today the launch of Pathfinder, Canada’s first web-based tool that offers an instant mortgage rate quote online. The free tool promises to transforms how people shop for mortgages.
Pathfinder asks for a few details about what a buyer or homeowner is looking to do, and they can instantly view and sort offers by total savings, mortgage rate, lender, term length, prepayment flexibility, and more.
Whether buying a home, renewing a mortgage, or looking to refinance, Pathfinder lets users seamlessly view real-time mortgage rates online.
Those with an existing mortgage offer from any lender can easily compare it with products from 20+ lenders and see which offer has the higher total savings amount, making it a straightforward process to identify the best deal.
Notably, through predictive modelling, Pathfinder is the only tool that enables users to compare all mortgage deals as it relates to their overall expected costs. Pathfinder also provides live insights so users can see what others are selecting for their mortgage term length, or how many are choosing fixed over variable rates.
“At Perch, we’re focused on building innovative products and tools that empower Canadians on their home ownership journey. Our goal is to make owning a home as simple and accessible as possible, which means putting information back into our clients’ hands and making it available 24/7,” says Perch CEO Alex Leduc.
“We believe Pathfinder is a massive game changer in terms of how people shop for mortgages online. Instead of having to wait around for a call back or an email from their bank, users can instantly get the latest mortgage rates right at their fingertips and be fully empowered to find the best deal.”
“Unlike rate comparison sites or advertised rates, they’ll see real, personalized mortgage offers from our lenders. For those who need help understanding their options or want to strategize before selecting a mortgage that’s right for them, we also offer dedicated 1:1 support, seven days a week, through one of our mortgage advisors,” Leduc continues.