l Your Financial Wellness Ally

We Got Your Back

Is Financial Worries Make It hard to retain good employees

A Raise Isn’t Always A Solution

Our financial wellness program is structured so that your team get the education they need based on where they are in their financial journey. 

Participants are screened using detailed questions so that we can provide a tailored experience that addresses their specific financial challenges.

BUDGETING & SAVING

Multi-channel guidance, tools, and education empower employees to take strategic actions toward mangaging their income and saving money in todays costly environment.

DEBT MANAGEMENT

Become better able to evaluate their own needs for credit and meet your financial goals. and to manage new and existing debt understand their rights and responsibilities as a borrower.

CREDIT MANAGEMENT

This course helps participants to build, repair and recover their credit standing. Detailed online sessions help strengthen their buying power and master ways to use credit as a tool to get approved for big-ticket purchases.

MORTGAGE PREPARATION

Designed to help employees understand the mortgage financing process and prepare them to make informed decisions about interest rates, amortizations and lending requirements.

Get More Details
What's In It For You?
  • 100% Tax Deductible
  • Stand alone platform
  • Up to 77% retention rate
  • Fully digital employee enrollment
  • Flexible contributions and matching

Get Recognized For The Rockstar You Are!

Combat Turnover
0%
Bolster Well-being
0%
Cost Effective Solution
0%

100%

Tax Deductible

SAY LESS. I'M IN!

Demo

Talk To Financial Wellness Account Manager

  • Dedicated Account Manager

Drawing on years of experience, your account manager will work closely with your team to determine your needs and ensure they are delivered.

  • Budget Friendly Options

Review a variety of plan options and product recommendations that aligns with your budget and desired outcome.

Request A Demo

Get in touch with an Assistance Manager to discuss your organization’s requirments. 

At Watafalls, we are enhancing the employee benefits landscape by expanding on ways to support employers and employees across Canada.

Get in Touch

  • 339 Queen East, Toronto ON
  • hello@watafalls.com
  • (647)-267-8289
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Copyright © 2024 Watafalls, All rights reserved.

HOW IT WORKS

ACCESS

Employess Opt-In by registering for a financial wellness course

SET GOALS

Select a financial goal
1. Decrease debts
2. Increase Savings
3. Repair Credit

REWARD

Employer matches the full Dollar amount or a percentage equal to the employees financial goal once they reach it

Funds are used towards big ticket items

Buydown Mortgage Rate

Rent Relief

Car Purchase / Repair

Home Furnishing / Appliances

Other

use funds towards reducing:

Realtor Commission

Legal Services

Home Inspection / Appraisal

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6.44%

2 Year Fixed
Get This Rate

5.44%

3 Year Fixed
Get This Rate

5.19%

5 Year Fixed
Get This Rate

6.25%

5 Year Variable
Get This Rate
View More Rate Options

The Mortgage Assistance Plan (MAP) is an Opt-in program designed to assist concerned employers looking for ways to support homebuying or homeowning employees with the high cost of borrowing. 

A dedicated specialist has been contracted to provide assistance with the mortgage financing process.  Staff will benefit from closing cost credits,reduced rates various service discounts along with mortgage education and training.

All employees of the company are entitled to the Infinity Program. Benefits include:

  • Cash Rebate
  • Reduced Interest Rate
  • Discounted services
    • Legals
    • Appraisals
    • House Inspections

Your employer may also chose to subsidize your mortgage costs they will reduce your cost of borrowing further by:
1. Buying down your lalready low interest rate; or
2. Gifting a portion of your down payment or
3. Providing additional monthly pre-payment installations to pay your mortgage down faster

First you must opt into this plan by completing a one minute registration. Please check your company email account for an invitation link to the registration page.

The Standard plan is non-taxable.


The subsidized portion from your employer is a taxable benefit which will be calculated and shared with you by your benefits team members prior to disbursement.

The Standard Program Rates are generally discounted a percentage below the banks posted rates.


The subsidized rates are further discounted at a basis points predetermined by your employer.

Quick answer: No.

You are responsible however for any lender costs associated with setting up a mortgage such as:

  • Discharge Fees 
  • Early payout penalities
  • Realtors
  • Appraisal
  • Legal
  • Home inspection and other applicable service fees

Benefits are intended for the direct enjoyment of the employee. You will however be able to rent a portion of your home at which point your mortgage interest becomes tax deductible.

A Cashback is directly tied to the mortgage amount, term and interest rate, which are typically half a percent greater or more than non-cashback rates.

The MAP Cash Rebate is still determined by the mortgage amount however, participants continue to benefit from the discounted rates, no matter the term.

For greater cash in hand, you may opt to select both.

Funds are typically dispersed within 30 days of closing.

The savings and low rate for the Standard program will remain in effect. Any subsidized benefits are effective for the length of your employment. Any portions not covering your  employment tenure must be repaid  on or before your last day of service. Please contact HR to discuss further.

The Mortgage Assistance Plan (MAP) is an Opt-in program designed to assist concerned employers looking for ways to support homebuying or homeowning employees with the high cost of borrowing. 

A dedicated specialist will provide assistance to new and existing with the mortgage financing process.  Staff will benefit from closing cost credits, reduced interest rates and various mortgage financing service discounts along with onsite and/or virtual financial education and training.

All employees will receive access to our Infinity Plan. Perks include:

  • Cash Rebate
  • Reduced Interest Rate
  • Discounted services
    • Legals
    • Appraisals
    • House Inspections
    • And more

You may also chose to reduce your staffs cost of borrowing further by:1. Buying down their already low interest rate; or
2. Gifting a portion of their down payment or
3. Providing additional monthly pre-payment installations help pay their mortgage down faster.

Spending budget is set by you. Should you choose to take advantage of our paid services, please see Subscription Model HERE To get an idea of how much it will cost to buydown an employee rate, please see Rate Buy Down Calculator.

Simple.

1. Click on the Get Started link.

2.Complete the 3 minute registration form.

3. Your account will be set up within hours of submitting your application and a notification email sent to the work address provided.

The Infinity plan is non-tax deductible as the rebates and savings are incurred at our end.

The subsidized portion of  your employee's interest rate or down payment is indeed tax deductible.

NOTE:  Please consult a licensed CPA for full details.

Rates received under the Infinity plan are generally discounted a percentage below the bank's posted rates.

Employers may choose to further discount all or select employees' interest rate or mortgage balance at a basis points predetermined by your benefits team.

NOTE:  The basis points or it's cash equivalent cannot fall below the CRA's precribed rate.  Please consult your company's CPA for more details.

Quick answer: No.

Employees are responsible however for the usual lender costs associated with setting up a mortgage:

  • Discharge Fees 
  • Early payout penalities
  • Lender fees
  • Realtor
  • Appraisal
  • Legals
  • Home inspection and other applicable service fees

A Cashback is directly tied to the mortgage amount, term and interest rate, which are typically half a percent greater or more than non-cashback rates.

The MAP Cash Rebate is still determined by the mortgage amount however, participants continue to benefit from the discounted rates, no matter the term.

For greater cash in hand, you may opt to select both.

Funds are typically dispersed within 30 days of closing.

The savings and low rate for the Infinity plan will remain in effect.

The subsidized benefit is effective for the length of their employment.

If an employee ceases employment with the organization within five years of receiving Mortgage Assistance Perk, you may request that they the entire or partial monetary amount of the subsidy is repaid.

Please contact HR to discuss further.