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Which Mortgage Types are Supported in Ownwell?

Here are the mortgage types that Ownwell does and does not currently support.

Dan MacDonald avatar
Written by Dan MacDonald
Updated over 2 months ago

Mortgage Types that ARE supported in Ownwell:

  • Currently, Ownwell supports first-position, amortizing mortgages.

Mortgage Types that are NOT supported in Ownwell:

  • Second or third-position mortgages

  • Interest-Only mortgages

  • Reverse mortgages

  • Private mortgages

  • Home Equity Lines of Credit (HELOCs)

Payment Frequencies that are NOT supported in Ownwell:

  • Accelerated Weekly Payments

  • Semi-Monthly Payments

A Note on Multi-Component Mortgages:

For products that combine a traditional mortgage with a line of credit, like TD's Flexline or Scotia's STEP, keep the following in mind:

  • Submission platforms typically require the broker to enter the full combined amount - including both the amortizing mortgage and the line of credit - as a single mortgage amount.

  • Ownwell receives only the total combined amount (amortizing mortgage amount and line of credit amount) and has no way to separate the components.

  • If your client has one of these products, you'll need to manually adjust the original mortgage amount in Ownwell to reflect just the amortizing portion.

Here's how to make updates to the client's mortgage in Ownwell:
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