Why FairRate Canada is independent
Short answer
FairRate Canada is designed as a consumer-paid educational tool. It helps borrowers check whether a Canadian mortgage renewal offer looks fair before signing. FairRate is not a lender, broker, brokerage marketplace, law firm, or financial advisor, and it does not sell borrower information to banks, brokers, or lenders.
How FairRate differs from other mortgage sites
| Type | Usually paid by | Common incentive |
|---|---|---|
| Bank renewal page | The lender | Retain the borrower |
| Broker or marketplace | Broker, lender, ads, affiliate, or lead model | Generate inquiries, applications, or referrals |
| FairRate Canada | The consumer | Explain whether an offer looks fair before signing |
FairRate does not arrange mortgages or decide whether a borrower qualifies for any specific product. It gives benchmark context so a borrower can ask better questions before accepting, negotiating, or comparing a renewal offer.
Paid FairRate reports are optional. The free checker comes first, and the paid reports exist for borrowers who want a written fairness verdict, benchmark comparison, cost-gap estimate, and negotiation prompts.