WiiBid is for anyone looking to get the best mortgage rate whether you're looking for pre-approval, getting financed or refinanced to lower rate, consolidate debt, or access home equity. WiiBid has a wide range of mortgage solutions to support any situation for all Canadians, non-Canadians, self employed or business owners. A simple application allows you to reach prime, alternative and private lenders to create competition and select your best offer from a range of bids received.

If you have been denied by the bank, self-employed, new to Canada, or have poor credit WiiBid can help you access a pool of verified private and alternative lenders who are willing to bid for your business to help you access financing support.

Lenders will only see necessary information such as property information, mortgage amount requested, credit score, and date financing needed to provide their Bids during the WiiBid Auction. Only once you accept a bid, the lender will gain expanded access to your application. If you do not declare a winning bid, we will automatically connect you with the lender that offered you the lowest rate. If you choose to assign your application to your designated broker to apply to WiiBid auction on your behalf, the mortgage broker will also have the same level access to your application as you with full visibility to act on your behalf.

If you have not received any confirmation emails, please check your spam folder. If you are still unable to locate the confirmation email, please email us at [email protected].

You sure can. Just email us at [email protected] to cancel the auction at any stage.

WiiBid's services currently cover British Columbia, Alberta and Ontario (See Locations). We are expanding nationally, so stay tuned!

Here are the top 3 Reasons:

1. Best Rate – You are creating competition, driving the rate down, and accessing the best offers. Save the commission and get the best offers through a single application.

2. Simplicity – WiiBid is straightforward. You are engaged with the lenders directly and see the offers as they come in as part of the eco-system; you can always seek advice from a broker for an additional fee by selecting a broker from the list of brokers included in the system. If you are working with an external broker, ask them to join WiiBid as a broker and you could select them as the broker on your file.

3.Transparency – You are in control to see all the bids live on your application, access your dashboard for real-time updates, and skip any bias resulting from lender/broker relationships.

WiiBid is fun and free to explore. Complete your application for FREE and examine your offers. WiiBid will only get paid once you have successfully received your requested funds. All brokers and lenders are welcome to join us for free.

Absolutely – There’s always a chance that your existing mortgage interest rate is higher than what could be available in the home loan market right now. Regardless if you have a fixed or variable interest rate, you may be paying more than you need to on your current home loan. WiiBid helps you find lower rates quickly and effortlessly.

No. You are encouraged to submit your application to auction and examine the offers. You can choose not to proceed at any point if you feel that it is not right for you.

Your Credit Score is a credit rating between 1 and 900, summarising the information in your credit report into one easy-to-understand number. Factors like your credit liability, length of credit history, types of credit in use, credit-seeking activity, and repayment history contribute to your Credit Score. Your credit score contributes to your application risk assessment performed by the lenders as they bid for your home loan, based on your overall profile.

Yes. Every time your credit is accessed, the credit reporting agencies will require the accessing entity to report it back. At WiiBid, your credit will only be checked once and only anonymously shared with lenders. This means that lenders do not see your name and personal information unless they give you an offer that you would like to accept.  This way, your personal information is only exposed to the lender of choice, not to multiple parties, and protecting your privacy. 

A healthy credit score is a significant first step to finding the ideal home loan rate. To receive the most competitive bid on your Wiibid, a credit score over 600 is ideal. You can check your Equifax Credit Score here to get a better idea of where you stand. Over time, your credit score will improve with good financial behavior. You can read more about improving your credit score here.

If your credit score is below 500, WiiBid might still be able to assist in your best home loan interest rate search. While credit scores are used to evaluate a customer’s likelihood to pay their debts on time, some individuals may have unique circumstances that make them the right customers for specific lenders. You may want to speak to a mortgage broker directly to discuss your options further or contact us at [email protected], and we can look at options available.

Absolutely NOT. As part of the WiiBid auction process, we provide a de-identified profile (limited information about the property, financing needs, and credit score) to the lenders engaged in the WiiBid Auction. Only the successful lender with the best offer (the one you choose to accept) will be able to see a full application and further engage with you as part of their underwriting process.

Lenders will only see necessary information such as property information, mortgage amount requested, credit score, and date financing needed to provide their Bids during the WiiBid Auction. Only once you accept a bid, the lender will gain expanded access to your application. If you do not declare a winning bid, we will automatically connect you with the lender that offered you the lowest rate. If you choose to assign your application to your designated broker to apply to WiiBid auction on your behalf, the mortgage broker will also have the same level access to your application as you with full visibility to act on your behalf.

Inform the broker or lender that you do not wish to proceed. You can use WiiBid Marketplace to create another auction and choose a different broker or lender.

Only residential property loans. We offer refinancing, buying, and building of home loans for both Owner/Occupier and Investors. But if you have a request or want help on commercial or other loans, feel free to connect with us through our [email protected].

The minimum mortgage amount you can request through WiiBid is CAD$50,000, but there is no maximum!

Yes! The application process allows you to add a co-borrower to increase your chances.

Yes. You can enter your application for a pre-approval, if you are looking for financing from a bank or a prime lender. 

WiiBid connects interested lenders with potential borrowers. The actual closing, funding, and transfer of funds are managed through the Lender and Borrower’s chosen bar-certified lawyers. Based on the authorization outlined in the commitment letter, WiiBid fees will be deducted on closing by Lender lawyers.

We follow a strict process when we sign up for new lenders. Before allowing lenders to register on WiiBid, we validate their qualifications through a screening process to ensure legitimacy, credibility, and fund verification before registration. We also verify their licensing via the relevant bodies such as the BC Financial Services Authority (BCFSA). We are not incentivized for different business volume with lenders. As such, we do not favor any lenders over the other. All lenders and brokers are welcome to join us for free.

No. Borrowers are encouraged to submit their application to auction and examine the offers. They can choose not to proceed at any point if they feel that it is not right for them.

As part of the WiiBid auction process, we provide a de-identified borrower profile (limited information about the property, financing needs, and credit score) to the lenders engaged in the WiiBid Auction. Only the successful lender with the best offer (the one borrowers choose to accept) will be able to see a full application and further engage as part of the underwriting process.

Only residential property loans. We offer refinancing, buying, and construction loans for both Owner/Occupier and Investors. But if you have a request or want help on commercial or other loans, feel free to connect with us through our [email protected].

WiiBid only gets paid once an application closes successfully. All brokers and lenders are welcome to join us for free and set their respective fees and commissions.

Qualified brokers can sign up for FREE, browse deals, and submit applications on behalf of their clients or find mortgage investment opportunities for their investors. As a broker, you can set your compensation, and the system will incorporate that into the offering and will ensure you will be paid upon closing.

We follow a strict process when we sign up for new lenders. Before allowing lenders to register on WiiBid, we validate their qualifications through a screening process to ensure legitimacy, credibility, and fund verification before registration. We also verify their licensing via the relevant bodies such as the BC Financial Services Authority (BCFSA). We are not incentivized for different business volume with lenders. As such, we do not favor any lenders over the other.

No. You are encouraged to submit their application to auction and examine their offers. They can choose not to proceed at any point if you feel that it is not right for them.

Lenders will only see necessary information such as property information, mortgage amount requested, credit score, and date financing needed to provide their Bids during the WiiBid Auction. Only once borrowers accept a bid, the lender will gain expanded access to your application. If they do not declare a winning bid, we will automatically connect you with the lender that offered them the lowest rate. Borrower assigned or independent mortgage brokers will also have the same level access to borrower application, with full visibility to act on their client's behalf.

You sure can. Just email us at [email protected] to cancel the auction at any stage.