The Direct Bid Process
In a normal mortgage application, brokers and lenders control the process – meaning they shop rates, consider bids, and decide what fits for you.
We do things differently.
Our Direct Bid Process puts you in control, creating competition for your mortgage and allowing you to decide which bids to consider.
Here’s how it works:
- Apply Online. You complete and submit our simple online application through the Origin homepage. If you need help, Mortgage Advisors are always available by phone or live chat. Completing an application does not commit you to accepting a bid.
- Challenge Lenders. We invite lenders to join a transparent bidding process for your mortgage! Within 4 hours, you’ll receive three competitive bids from lenders. As always, we’ll be available every step of the way to answer any questions.
- Consider Your Options.Once you’ve had time to consider the bids, you’re free to:
- Choose one of the lender bids to consider further
- Choose not to consider any of the lender bids
- Choose to pursue one of the lender bids right away with the help of a Mortgage Advisor
Note: Choosing one of the bids does not commit you to accepting a mortgage. Commitment only comes after you have signed official mortgage documents.
- Finalize. Should you choose to accept a bid, the process can be finalized in as little as 48 hours. After your chosen lender has been provided with your personal documentation, the lender will begin a qualification process. Your Mortgage Advisor will work with you to ensure all necessary documents are provided.
The entire Direct Bid Process can be completed in as little as three business days, but on average takes eight business days from start to finish.
Get started! Apply Now.
Our clients have told us that they have appreciated feeling more a part of the mortgage selection process with our unique 3 mortgage bids system. After having had the opportunity on their own time, in the privacy of their own home or office, they are able to complete the interactive Mortgage IQ quiz.
This quiz is designed to both test your current knowledge about the home financing process in Canada, as well as educate the participant along the way by providing the answers to the multiple choice questions as they go through the quiz. This helps you in feeling more knowledgeable when you decide to make contact with our Mortgage Advisors for unbiased advice.
The next logical step for someone to take after completing the IQ is our Mortgage Assessment. Once again, this is a self directed quiz for people to answer some questions that provide the answer code some hints and tips about that person tolerance for interest rate risk and potentially short term changes in their life that may include a change in housing needs. This is strictly used by the participant and no personal information is shared with Origin when the Assessment is being done and there is no follow up sales or marketing to you as a result of completing this quiz.
It is our hope that after we have built some trust and demonstrated our desire to educate and provide free on-line services to prospective new clients that it will be in your interest to consider making an application to receive 3 unique lender bids for your mortgage and leave the world of one choice behind.
By providing Origin with some brief background about you, your co-borrower(s), including your resident and employment history and the property you have a financing need for, we can assess how to best provide you with 3 unique bids to consider. These are sent to you by email within 4 business hours together with the contact details of the Origin Mortgage Advisor assigned to assist you should you desire to select one of the bids and/or require some additional information about your choices.
If you choose to proceed with one of the bids, you simply reply with your choice and within 4 business hours we will provide you with any personal documentation we will need in order to firm up our approval terms and conditions with our lender of choice. Following your providing that documentation to your Advisor, we will provide you with the lenders firm mortgage commitment which outlines the terms of the mortgage approval. Once this lender document is authorized by you we are on our way to getting your new financing advanced and you beginning to enjoy the new terms of your selected mortgage
Origin provides 3 unique bids on resale home purchases, new home mortgages Vancouver, refinances on currently owned homes and switches and transfers at the end of your mortgage term. We believe we have a better process to serve your financing needs!