LowestRates.ca review

Updated September 28, 2026 · BorrowCue Editorial Team · Facts checked September 26, 2026

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Our verdict

LowestRates.ca suits Canadian borrowers who want a single place to shop a mortgage and an unsecured loan, with free early repayment and soft prequalification. Its initial rate ranks 99 of 297 on the site, so compare offers before you commit.

Key facts

Best for
A single Canadian site for a mortgage, a remortgage or an unsecured loan, with fees at the start set to nothing.
Initial rate
3.89% (Source, checked September 26, 2026)
Fixed period
5 years (Source, checked September 26, 2026)
Maximum loan to value
80% (Source, checked September 26, 2026)
Product fee
CA$0 (Source, checked September 26, 2026)
Purpose
Purchase, Remortgage, First-time-buyer, Home-equity (Source, checked September 26, 2026)
Lender type
Marketplace (Source, checked September 26, 2026)
Legal entity
Rates.ca Group Ltd. (Source, checked September 26, 2026)
Headquarters
Canada (Source, checked September 26, 2026)
Founded
2012 (Source, checked September 26, 2026)
Support channels
Help-centre (Source, checked September 26, 2026)
Official website
lowestrates.ca

Loans

APR
10% (Source, checked September 26, 2026)
Loan amount
CA$500 to CA$45,000 (Source, checked September 26, 2026)
Arrangement fee
0 (Source, checked September 26, 2026)
Credit check
Soft prequal (Source, checked September 26, 2026)
Funding time
within 24 hours (Source, checked September 26, 2026)
Lender type
Marketplace (Source, checked September 26, 2026)
Free early repayment
Yes (Source, checked September 26, 2026)
Eligibility
18 or older, Canadian residency, Canadian bank account, minimum 12 months credit history, minimum income $1,250 per month, employed at least three months (Source, checked September 26, 2026)
Loan types
Personal, Debt-consolidation, Business, Car, Bridging, Student (Source, checked September 26, 2026)
Use cases
Home-improvement (Source, checked September 26, 2026)
Legal entity
Rates.ca Group Ltd. (Source, checked September 26, 2026)
Headquarters
Canada (Source, checked September 26, 2026)
Founded
2012 (Source, checked September 26, 2026)
Support channels
Help-centre (Source, checked September 26, 2026)

Apps and profiles

Elsewhere
LinkedInX

Pros and cons

Pros

  • Origination on unsecured loans and the mortgage product fee are both free, at 0 and CAD 0.
  • Free early repayment, so a balance can be cleared ahead of schedule without a charge.
  • soft prequal credit checks keep a hard search off your record while offers are compared.
  • Funding within 24 hours once a lender accepts.

Cons

  • Support runs on help centre only, with no phone or email line listed.
  • A fixed period of 5 is shorter than the 10 typical across the mortgage group.
  • A 80% maximum loan to value asks buyers for a larger deposit than the 90% common in the group.

Ready to try LowestRates.ca?

Scored 8.6 / 10 by BorrowCue.

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Who it suits

  • Canadian borrowers with a steady income and a Canadian bank account who want to check rates without a hard search.
  • Homebuyers, remortgagors and first time buyers, plus owners funding home improvement from the same application.
  • People happy to compare lenders, since it works as a marketplace.

Who should look elsewhere

  • Price-first shoppers, since Prestalo lists an initial rate of 2.36% against 3.89% here.
  • Borrowers who want phone or email help, since support runs on help centre only.
  • Anyone whose plans need a higher loan to value, because the maximum here is 80%.

Where it sits among rivals

On initial rate, LowestRates.ca ranks 99 of 297 brands compared. Fixed period ranks 148 of 259, and maximum loan to value ranks 186 of 293. None of the three leads the field, so the case rests on breadth of choice rather than a standout headline number.

Who runs it

LowestRates.ca is run by Rates.ca Group Ltd., based in Canada and operating since 2012. It is a marketplace, so offers come from third party lenders rather than from the site itself. Support runs on help centre, which leaves self service articles carrying most questions.

How LowestRates.ca compares

Where LowestRates.ca is available

Available
Canada

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What fees does LowestRates.ca charge?+

Origination on the unsecured loan is free at 0, and the mortgage product fee is free at CAD 0. The cost that matters is interest: 10% on the unsecured side, and an initial rate of 3.89% on the mortgage.

What rate and term apply to a mortgage?+

The mortgage starts at an initial rate of 3.89%, held for a fixed period of 5, against a maximum loan to value of 80%. As a marketplace the site presents lender offers, so the rate you are given depends on the lender you pick.

How much can I borrow?+

Unsecured borrowing runs CAD 500 to CAD 45,000 in Canadian dollars, and mortgages go to a maximum loan to value of 80%. Home equity lending sits alongside, so an owner releasing value from a home they already have can apply on the same site.

Does checking rates hurt my credit?+

Rate shopping runs on soft prequal, a soft prequalification, so browsing offers adds no hard search to your record. Anything that goes to a matched lender is then assessed in full by that lender.

How quickly do funds arrive?+

Funding lands within 24 hours after a lender accepts the offer. Eligibility matters as much as speed: applicants must be adults resident in Canada, hold a Canadian bank account, meet a minimum income and hold a minimum period of credit history.

Can I repay a loan early?+

Early repayment is free, so clearing an unsecured loan ahead of schedule adds nothing to the cost. The 10% still matters if you carry the balance longer, and balances run CAD 500 to CAD 45,000.

What can the money be used for?+

Loan types listed are personal, debt consolidation and business, with home improvement named as a use. The mortgage side covers purchase, remortgage, first time buyer and home equity, so a renovation and a new purchase can both be arranged from the same site.

How do I get help?+

Help is self service: support runs on help centre only, so no phone or email line is listed. Questions on a live application are better taken with the matched lender, since LowestRates.ca works as a marketplace rather than as the lender.

Sources

  • lowestrates.ca checked September 26, 2026

    Backs: Lender type

    “LowestRates.ca is an online rate comparison website for insurance, mortgages, loans, and credit cards. Our free, independent service saves you time and money by comparing products offered by Canada's...”

  • lowestrates.ca/about-us checked September 26, 2026

    Backs: Founded, Legal entity

    “LowestRates.ca is a Canadian fintech company founded in 2012 by co-founder and then-CEO Justin Thouin and based in Toronto, Ont.”

  • lowestrates.ca/mortgage checked September 26, 2026

    Backs: Fixed period, Initial rate, Maximum loan to value, Product fee, Purpose

    “3.89% 5-Year Fixed”

  • lowestrates.ca/mortgage-rates checked September 26, 2026

    Backs: Headquarters, Support channels

    “LowestRates.ca 1910 Yonge Street, Suite 401 Toronto, Ontario Canada M4S 3B2”

  • lowestrates.ca/loans checked September 26, 2026

    Backs: Loan amount, APR, Credit check, Eligibility, Free early repayment, Funding time, Loan types, Arrangement fee, Use cases

    “the loan agencies we work with offer unsecured loan amounts of $500-$45,000 to people who qualify”

Compiled from 5 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: APRC.

LowestRates.ca

A single Canadian site for a mortgage, a remortgage or an unsecured loan, with fees at the start set to nothing.

8.6/10See alternatives

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