Why Use a Mortgage Broker?
Don’t limit yourself! Banks offer their own products and have their own guidelines, making things more restrictive. Working with a broker gives you access to tailored, personalized service and many lenders. Plus, they have your best interests in mind.
Focus on You – Aren’t You Worth It?
This is a big decision. Banks are focused on profit and their shareholders, but you need someone focused on you. With a broker, you’ll get the attention you need and deserve.
A mortgage broker can truly help connect all the steps in this confusing process. You’ll have someone in your corner that knows the ins and outs of the industry, giving you the best chance at getting that approval and the home of your dreams.
Lower rates – Because Who Doesn’t Want to Save Money?
A mortgage broker acts as a middleman between you and potential lenders. Brokers have access to multiple lenders offering low rates all the time, so they’ll be able to match you up with a lender who is the perfect fit.
Low rates are important, but not the be all end all. Sometimes, prepayment terms or conditions on the mortgage are just as important, so your broker will help you sort through the options.
Saving You Time – Wouldn’t you rather focus on other things?
Applying to different banks can be time consuming and repetitive. Dealing with a broker is a one stop shop. You’ll only have your credit score pulled once, and your broker can apply to a number of lenders on your behalf.
Another perk? You won’t have to follow up repeatedly with your bank. Instead, brokers take care of the administrative work – gathering documents, pulling your credit history, verifying your income and more.
All At No Cost to You (Seriously!)
Many people don’t realize there’s no out-of-pocket cost when using a mortgage broker. Brokers earn a commission paid by the lender once the mortgage goes through. This means you’ll get personalized attention and a great rate without the additional fees. Sounds like the best of both worlds, right?
Note: If you don’t qualify with a traditional lender, you should expect some additional lender fees. A broker will disclose this to you up front so you can make an informed decision.
Whether you’re self employed, new to Canada, or have an unconventional situation, a broker knows how to steer you in the right direction and what mortgage programs will work for you.
No one likes feeling like they’re just another number. Skip the cookie cutter approach and get advice that’s tailored to you.