Breezeful Review

An online mortgage brokerage that can help you find the right mortgage lender based on your needs.

WRITTEN BY
Lisa Rennie
Updated December 14, 2020


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If you’re looking to buy a new home or want to renew the mortgage you already have, you’ll need the help of a mortgage expert. Breezeful is an online mortgage brokerage that can help you find the right mortgage lender based on your needs. 

With their help, you can have an expert negotiate rates and terms on your behalf with mortgage lenders so you end up with an affordable mortgage product that suits your needs. 

Online mortgage brokers can simplify the entire process of taking out a new home loan, renewing an existing mortgage, or refinancing at a lower rate. Breezeful’s fully online platform can help you save time and hassle so you can secure the best rates and keep more money in your pocket. 

Let’s go into more detail about Breezeful to help you decide if this digital mortgage broker is best for you. 

Who is Breezeful?

Breezeful is an online mortgage broker that launched in early 2020. The firm is financially backed by seasoned investors, including Y Combinator and GoAhead Ventures, both of which have dealt with big-name companies.  

The mortgage brokerage leverages mortgage lenders throughout North America. Although based in Toronto, Ontario, Breezeful helps clients all over Canada. The entire user experience is completely online, so there’s no need to visit anyone at a brick-and-mortar branch.

Breezeful works with a variety of lenders, including both small lenders and larger, more well-known ones, including Scotiabank, TD Bank, and Manulife Bank. They also help those who may otherwise be unable to secure a mortgage through traditional means. 

For example, borrowers who are self-employed, have less-than-stellar credit, or have recently immigrated to Canada may be able to find more success with Breezeful than by visiting a traditional bank. 

Breezeful also helps clients buy homes in non-traditional ways, such as rent-to-own, co-equity deals, and all-cash transactions. 

How Does Breezeful Work?

Breezeful provides an online platform that you can use to apply for a new mortgage, renew your mortgage, or refinance your home loan. All you have to do is provide certain pieces of personal information when you fill out the online application to verify whether or not you prequalify for a home loan. 

The information about yourself that you provide will help Breezeful understand your particular needs and situation. All sensitive information will be kept confidential. 

Then, you’ll be paired up with a mortgage expert who will work diligently to negotiate with lenders to optimize the rates and terms of your financing. 

Breezeful will make some comparisons among various lenders within its network and create a shortlist of mortgage lenders who have made offers that work with your criteria. Your mortgage expert will provide their professional input regarding which lender may be best suited for you. 

If you are satisfied with what is being offered, you will fill out the required paperwork to formally apply for a mortgage with the chosen lender, with Breezeful helping you every step of the way. 

The experts at Breezeful will also work with you after you’ve successfully been approved for a mortgage and have bought a home. They will offer advice and guidance on the closing process. 

Why Work With a Mortgage Broker?

Breezeful is not a lender, but rather an online mortgage brokerage. Mortgage brokers are licensed professionals who are trained to find a mortgage lender and product that suits the financial profile of their clients. They work with a wide array of lenders within their network to find home loans but don’t lend out funds directly. 

Brokers serve as middlemen between home buyers and mortgage lenders to negotiate the best home loan. They don’t work for any particular lender, but rather are independent of lenders and have your best interests in mind.

Since mortgage brokers have working relationships with several lenders, they can peruse all the mortgage products offered to find the lowest rate that best suits your financial situation.

What Types of Mortgage Products Does Breezeful Offer?

Breezeful offers the following mortgage products:

New mortgages. If you’re buying a new home, you’ll likely need a mortgage to help finance such a big purchase. Breezeful can help you secure the home loan you need to finalize a real estate transaction.  

Mortgage renewals. When your current mortgage term comes to an end, you’ll either need to pay off your mortgage in full or renew it. A mortgage renewal involves ending your current mortgage term and starting a new one. Your lender will send you a mortgage renewal statement no less than 21 days prior to the end of your current term. You can either renew with your existing lender or with a new one.

Pre-approvals. Homebuyers are encouraged to get pre-approved for a mortgage before they start their search for a new home. This written document states that you are qualified for a home loan amount at a certain interest rate and term.

Refinances. You may want to renegotiate the rate or terms of your mortgage. The most common reason to refinance is to secure a much lower interest rate. If the current rate is much lower than what you are currently locked in at, you may want to consider refinancing, which could save you tens of thousands of dollars over the life of your loan. 

You may also want to refinance to use the equity of your home for cash, shorten the term of your mortgage, or switch between a fixed and variable rate mortgage.

Home equity lines of credit. Also known as a ‘HELOC’, a home equity line of credit is a revolving loan in which your home is used as collateral. The great thing about a HELOC is that you always have access to your home’s equity without having to apply for a loan every time a lump sum of cash is needed. 

Second mortgages. You may choose to take out a second mortgage while your first mortgage is still in effect if you want to consolidate your debt, avoid private mortgage insurance fees, or use your home’s equity for home renovations. 

Private mortgages. If you’re unable to get approved for a mortgage with a traditional lender like a bank or are looking for faster approval, then working with a private lender may be an option. Private mortgages are offered by individuals or mortgage corporations that supply a private source of funds. The terms of these mortgages are usually shorter and the interest rates are typically higher. 

Rent-to-own. For some Canadians, becoming a homeowner the traditional way may be very difficult. If that’s the case for you, a rent-to-own transaction may be ideal. With this arrangement, you would rent a home for a certain amount of time, then have the opportunity to buy the home at a later date when the lease expires. 

If you choose to exercise your right to purchase, you will pay the agreed-upon price stipulated in your original contract. Part of your rent payments may go toward your down payment, depending on the exact terms of the contract. 

What is Breezeful’s Application Process Like? 

To apply for a mortgage product with Breezeful, follow these steps:

  1. Go to the application page on the Breezeful website.
  2. Click on “Apply Now.”
  3. Follow the instructions and answer the questions asked.
  4. Provide your consent for Breezeful to pull your credit report.
  5. Work with your dedicated mortgage expert who will guide you throughout the process of choosing a lender and the best rates and terms.
  6. Submit the necessary paperwork.
  7. Once you agree to proceed, you’ll receive either a pre-approval or approval from one of the mortgage lending partners in Breezeful’s network.

If you prefer, you can also speak with a mortgage specialist over the phone by booking a telephone appointment.

What Documents Are Required to Apply?

You’ll be asked to provide a few documents when you apply for a mortgage using Breezeful’s digital platform:

  • Government-issued photo ID. You’ll need to verify your identity, which you can do by supplying a copy of your driver’s licence or passport.
  • Proof of income. Lenders will want to make sure that your income is sufficient enough to handle the type of mortgage you require. As such, you may be asked to supply documents such as your pay stubs, letter of employment, or bank account statements. 
  • Credit report. You won’t need to pull your credit report yourself, but Breezeful will need to access it so they can assess your credit health.
  • Other financial information. Depending on your specific situation, you may be asked to provide other documentation that supports your finances, such as a statement of assets and liabilities, tax receipts, or proof of down payment.

Eligibility Requirements to Get a Mortgage With Breezeful

Breezeful does not have a list of criteria to qualify for a mortgage. The requirements are typically stipulated by the specific lender you work with. Having said that, there are usually some general criteria that you should meet to apply for a mortgage online, such as the following: 

  • Be over the age of majority in your province.
  • Be a Canadian citizen or resident.
  • Have sufficient income to be able to afford your mortgage payments. 
  • Not be in the middle of bankruptcy or have other debts that you are unable to manage. 

What is the Cost to Use Breezeful?

There is no charge to use Breezeful’s services and there are no hidden fees. Breezeful earns a fee from the lenders they refer to clients. Every successful mortgage application made results in a commission paid out from the lender to Breezeful, with no cost to you. 

Benefits of Choosing Breezeful

Breezeful makes applying for a mortgage as easy as possible. With a completely online platform, applying and getting approved for a home loan has never been more convenient. You can get approved anytime and from anywhere and get unbiased advice from a team of mortgage professionals.

  • Fast application process. It only takes a few minutes to apply for a mortgage and get quotes using Breezeful’s innovative digital platform. 
  • Savings. Since Breezeful’s mortgage experts work hard to wheel and deal with lenders on your behalf, you stand to save quite a bit with lower rates and better terms. 
  • Available all across Canada. No province is left unserviced by Breezeful. Even clients in the US can take advantage of their mortgage products and services. 
  • Dedicated mortgage expert. Once you get the ball rolling and start the application process with Breezeful, you’ll have a mortgage expert dedicated to you. They’ll be available to answer all your questions along the way should you have any.
  • Many mortgage products available. In addition to new mortgages, there are several other mortgage products available with Breezeful, including mortgage renewals and refinances. 
  • Convenience. Since Breezeful is fully online, you can do everything you need to do to get a quote without ever having to leave the comfort of your home. 
  • Better chances of approval. Breezeful not only works with borrowers who have high credit scores and ideal income circumstances, but also those who have lower credit scores and are in situations that might compromise their ability to get approved for a mortgage at a traditional bank or credit union. 
  • Excellent customer support. Get in touch with a mortgage advisor at any time through a dedicated text line.
  • Free service. Users do not have to pay any fees to work with Breezeful. 

Breezeful Overview

Number of Brokers30+
Mortgage products offered– New mortgages
– Mortgage renewals
– Pre-approvals
– Refinances
– Home equity lines of credit
– Second mortgages
– Private mortgages
– Rent-to-own
Fee None
Interest rateDepends on the lender
Application requirements– Government-issued photo ID
– Proof of income- Credit report
– Other financial information

Final Thoughts

Applying for a mortgage no longer requires a trip to your local bank or credit union. Instead, you can start and finish the entire process entirely online from the comfort of your home. Plus, you can enlist the services of a mortgage brokerage to find the best mortgage lender who will offer you ideal terms and the lowest rate possible. And Breezeful’s online platform and team of mortgage experts can deliver all of that.

The rates and loan amount provided by Breezeful are estimates based on the information provided and subject to change upon document, appraisal, and lender review. This pre-qualification should not be considered as a pre-approval and is subject to change.