EmbraceTech: Helping ALL Canadians With The First Automated and Customized Homebuyers Guide
Conrad Neufeldt was a mortgage broker who had the opportunity to close the single largest and single smallest mortgage of his career in one week. Despite making less money on the close of the smaller mortgage, he still felt more pride, “She was a single mother left high and dry and she was trying to find a way to buy a house. I was able to find the right option for her. She was actually crying when we signed the papers.”
“It really occurred to me that there were a lot more people dealing with this problem. We did the research and most people struggle to get approved to some extent, they may not have the full down payment or may have credit issues. These problems can be resolved but they don’t know how to do it,” Neufeldt adds. “Banks love an engineer with no debt, but not everyone is an engineer with no debt.”
Their research provided further insights. “80% of first-time homebuyers have no confidence in the home buying process and one-third of them are actually reduced to tears while buying a house. We wanted to work with people across the spectrum, from those struggling to get approved to those who just want to know more about the home buying process,” he shares.
Neufeldt joined forces with Mathew Farthing, Ryan LaForge, and Mitchell Bryce to create EmbraceTech, also known as the Canadian Homebuyers Guide. Their free software allows people to get an accurate assessment of where they are financially and what steps they can take towards buying their first (or next) home. The system also provides advice and connections for the homebuyers to real estate agents, mortgage brokers, and lawyers to make the experience more seamless.
“People actually get a roadmap for achieving their goals. Some people can buy a home within a week, others may take two years to get there. We give an unbiased viewpoint to help people get them to where they need to be,” says Neufeldt. “We also provide them with a no-BS look at their financial situation. Just because you qualify for a $400,000 mortgage doesn’t mean that you should use it all.”
In the last year, EmbraceTech has helped Canadians discover their eligibility for $100 million in real estate and they plan to continue growing their business and helping people from their main office at Co.Labs in Saskatoon. “You can always get mentorship and honest feedback here. This community really supports each other.”
Founders: Conrad Neufeldt, Mathew Farthing, Ryan LaForge, Mitchell Bryce
Incorporation Date: August 2018