FAQs (Frequently Asked Questions) are some of the most common things people have asked us since we launched to provide a better mortgage experience for Canadians. If you do not find the question, and answer, you are looking for please do not hesitate to reach out to us. We are always here to help.

People use Haystax because it’s easy, online access to home financing in Canada. We have trusted banks and private lenders to provide you a recommended selection of mortgages to choose from. With Haystax you’ll find the perfect mortgage, whether you are buying, renewing or refinancing.

We’re online, accessible and our technology is easy to use. We aren’t beholden to any particular bank or company, so you have the largest selection of lenders in Canada. And finally, we match you with pre-approved lender choices immediately.

Our proprietary technology drives a robust and powerful system that adjudicates lenders. We have direct integration with the credit bureau; a partnership with FLINKS and Securefact for income and personal verification; and 70+ regulated lenders (including major banks and private institutions). We automatically provide you with pre-approval from three lenders, and you choose the one you want. We’ll send you a login to upload your documents and follow your file to completion.

Get pre-approved in the time it takes to walk through your dream home. Answer a few questions about yourself, your assets, debts, income and credit, and our AI data driven system will automatically match you with three pre-approved lender choices.

Data security is of paramount concern to us. We intentionally have Canadian-based servers that are protected by redundant layers of state-of-the-art security, complex encryption and hardened firewalls. We safely back up all data off-site and all our third-party partners must meet the highest standards of data protection. At Haystax, we challenge ourselves to find potential vulnerabilities and use the newest malware technologies and techniques to continually update, optimize and secure every system in our network.

Lenders offer home financing loans with a guaranteed interest rate, for a specific period of time, for a fixed amount of money. Haystax finds you lender choices for a pre-approved mortgage based on the information you provide, your credit score and income. Get pre-approved in the time it takes to walk through your dream home. Buy, Renew, or Refinance.

The length of mortgage terms varies widely, from six months right up to 10 years. While five year mortgages are what most home buyers typically choose, you may consider a short-term mortgage if you have a set plan for your future or are not prepared to make a long-term commitment.

To figure out how much you can afford, you need to know your income and debts. An easy way to calculate this is to assume 30% of your income will go towards your mortgage payment and 40% will go towards your monthly payments plus and car, credit card, and other debt payments. Leave yourself with 30% for simple luxuries and make sure your mortgage payments give you the luxury of a life and room to breathe financially. Haystax offers lender choices that make sense.

For most people, their mortgage payment is their biggest monthly expense, along with property taxes and strata fees. As a home owner, you'll have utility bills, like heating, gas, electricity, water and of course internet. You’ll have to cover the cost of regular home maintenance, like painting, roof repairs, electrical and plumbing, and deal with the upkeep of your lawn, yard and snow removal. Appliances need replacement and homes need renovations, but thankfully, not monthly. Your costs depend on you but included all of these elements when considering your monthly budget.

A minimum down payment of 5% is required to purchase a home, and it must be your own cash or a gift from a family member. It cannot be borrowed. If you are purchasing a home for one million or more, a rental property, or investment property the minimum down payment increases to 20% and may even be higher.

In most cases, our services are free because we are paid by the lender. In some cases, like with a private mortgage, there may be a brokerage fee associated with our service.

To talk to a live person, please call us at 1-800-789-6588 or send us an email We look forward to hearing from you