Clover Mortgage

Smarter Loans Expert Review for Clover Mortgage

Reviewed by: Vlad Sherbatov, Personal Finance Analyst at Smarter Loans

Our Take

Clover Mortgage is a Canada-wide mortgage brokerage built around one core idea: access. Rather than focusing only on prime borrowers, Clover Mortgage specializes in helping Canadians who may have faced past financial setbacks still achieve homeownership or leverage their property for financial flexibility.

With close to $1 billion in funding secured for clients and a product range that spans residential mortgages, home equity loans, debt consolidation, and commercial mortgages, Clover Mortgage operates more like a solutions-based advisor than a single-product lender. Its team works across multiple lenders and lending tiers, allowing it to structure deals that banks often decline.

Clover Mortgage’s value lies in personalization. Each file is assessed on its full financial picture, not just a credit score, making it a strong option for borrowers with complex or non-traditional situations.

Who Clover Mortgage Works Best For

Clover Mortgage works best for Canadians who do not fit neatly into traditional bank underwriting boxes. This includes first-time home buyers with limited credit history, self-employed entrepreneurs, borrowers with past credit issues, and homeowners looking to consolidate debt using home equity.

It is also well suited for borrowers seeking alternative or private mortgage solutions, shorter-term financing, or customized structures that prioritize approval and flexibility over headline rates.

Clover Mortgage may be less relevant for borrowers with excellent credit and straightforward income who are already being offered competitive bank rates without issue.

What We Like

Flexibility is Clover Mortgage’s biggest strength. With access to a wide range of lenders and products, loan amounts can range from $50,000 to as much as $100 million, covering everything from modest residential needs to large commercial transactions.

We also like the speed. Approvals can happen in as little as 24 hours depending on documentation, which is fast in the mortgage world, especially for alternative or private deals.

The advisory approach stands out as well. Rather than pushing a one-size-fits-all product, Clover Mortgage emphasizes guidance and education, helping borrowers understand their options and trade-offs.

Flexible payment schedules, including weekly, bi-weekly, and monthly options, add another layer of borrower control.

Where Clover Mortgage Could Improve

Cost can be higher for non-prime or alternative mortgage products. While rates start competitively, borrowers with weaker credit or complex profiles should expect higher pricing than traditional bank mortgages.

Because Clover Mortgage operates as a brokerage, the experience can vary depending on the lender ultimately selected. Some borrowers may prefer the simplicity of dealing directly with a single institution.

Finally, documentation requirements can be more extensive for complex files, which may slow the process for some applicants.

Is Clover Mortgage Right For You?

Clover Mortgage is a strong option if you have been declined by banks, are self-employed, or need a customized mortgage or home equity solution. It shines when flexibility, creativity, and access matter more than securing the lowest possible rate.

If your financial profile is clean and straightforward, a direct bank mortgage may be simpler and cheaper. But if your situation requires problem-solving and lender advocacy, Clover Mortgage offers a practical path forward.

For Canadians determined to move past setbacks and unlock homeownership or equity-based solutions, Clover Mortgage provides experience, access, and personalized support.

Alternatives to Clover Mortgage

• Lotly
• 8Twelve Mortgage