March 12, 2014 09:56 ET

intelliMortgage Launches Canada's First Online "Do-it-Yourself" Mortgage

TORONTO, ONTARIO--(Marketwired - March 12, 2014) - intelliMortgage Inc. introduces Canada's "first do-it-yourself" (DIY) mortgage, cutting interest costs and saving valuable time for qualified borrowers.

The company's centrepiece technology is its unique "Mortgage Builder". The Mortgage Builder lets homeowners customize their mortgage with the exact features they need, eliminating unnecessary elements that inflate the interest rate. The system then searches all major banks, credit unions and wholesale lenders to pinpoint the most competitive lender matching the borrower's criteria.

"We've built a detailed search engine to scan dozens of lenders for the lowest-cost mortgages," says intelliMortgage co-founder Robert McLister. "By eliminating commissioned sales advisors from the DIY mortgage, the service is objective and our processing costs are significantly lower. We pass that savings on in full to consumers."

Licensed intelliMortgage concierges support customers throughout the 'Do-it-Yourself' process via phone, email and live chat. Clients can also log in 24/7 to upload their documents and get instant statuses on their approval and closing.

The intelliMortgage AmKiller

For homeowners wanting to be mortgage-free quicker, the company offers the exclusive "AmKiller," a patent-pending feature of the The intelliMortgage brand mortgage.

AmKiller can considerably reduce a homeowner's effective amortization by automatically increasing payments in tiny amounts, at the customer's determined frequency.

"Many don't grasp how a payment increase of even $5 per quarter can cut off five to six years from the life of a mortgage," says McLister. "AmKiller is a set-and-forget strategy so that lack of prepayment discipline stops being an obstacle to interest savings."

Launching on

intelliMortgage is launching on, the Canadian mortgage comparison platform.

"Canadians are smarter than ever when it comes to selecting the optimal mortgage, using sites like RateHub to research options," notes McLister. "If they can choose their own investments, they can choose their own mortgage. Our technology makes that possible."

Note: Rates and terms reflect estimates, may not apply to you, and are subject to change. O.A.C.

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