Neo’s technology transforms the traditional mortgage experience making it more accessible, affordable, and efficient from application to approval in minutes
Neo Financial (Neo) is announcing its latest product, the Neo Mortgage. This new product represents a significant milestone for the company, offering Canadians a user-friendly and streamlined approach to financing a new home, refinancing, or renewing their mortgage. Getting a mortgage is often the largest financial decision one will make in their life and with mortgage rates at the highest they have been in years, Neo is making mortgages more accessible by finding the best rates available. Since its initial beta launch, Neo has already seen tremendous demand and has processed over $1 billion in applications to date.
“At the heart of Neo, we’re focused on creating an experience as simple and seamless as the rest of your digital life, free from the complexity and bureaucracy that Canadians experience at legacy institutions.”
Neo Mortgage is transforming the way Canadians shop for a mortgage. Neo’s digital platform matches customers to the best rate based on their personal situation, and allows customers to apply directly for a mortgage online. Neo connects customers with in-house, commission-free mortgage experts to provide unbiased support and advice along the process. The mortgage application is 100% digital and allows customers to get prequalified for a mortgage in as little as 5 minutes.
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With Neo Mortgage™, customers can benefit from:
- A digital mortgage experience with dedicated live support
- An application process that takes less than 5 minutes
- No branch visits—documents are uploaded digitally
- A simple and stress-free process, with quick turnaround times
- Competitive rates that beat the Big 5 banks1
- Catered solutions regardless of your situation: new home purchase, refinancing, or renewal
“Our goal is to help Canadians navigate the complexities of the mortgage process and empower them to make informed decisions that can significantly impact their financial future,” said Andrew Chau, CEO and Co-Founder of Neo Financial. “At the heart of Neo, we’re focused on creating an experience as simple and seamless as the rest of your digital life, free from the complexity and bureaucracy that Canadians experience at legacy institutions.”
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This new product complements Neo’s full suite of products across everyday saving and spending, investing, and now home ownership, and all work seamlessly together to make finances easier for all Canadians. Neo provides unique ways for Canadians to be in control of their finances, including:
- Building credit with the Neo Secured Card, for those that are new to credit or newcomers to Canada.
- Automatically saving for a home with the Neo Money™ account with Auto-Save while earning high interest on every dollar.
- Furnishing their home for less by earning cashback at partners like Structube, Endy, and Ashley HomeStore when spending on the Neo Money™ card and Neo Credit card.
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