We Beat the Banks
Priority Action Plan
All Synergy clients receive our Priority Action Plan’ (PAC) which details in writing all required documentation and the necessary steps that we will be taking with you to successfully complete your mortgage. We are extremely proud of our PAC as it allows our clients and their real estate agent the advantage of a transparent and direct partnership. PAC is your roadmap, providing you direction and up to the minute updates so that you are well informed throughout the entire process from pre-approval to funding. Our goal is make your mortgage experience enjoyable and stress free while we deliver outstanding results.
Free Professional Service
There is no charge for qualified borrowers to use our system. We are paid by the lender once your mortgage has funded. Working through the mortgage broker channel to obtain a mortgage is a win / win approach to securing your mortgage. Borrowers receive professional advice and service from licensed mortgage brokers who are paid by the lenders upon the successful funding of the mortgage. This approach is efficient and effective and ultimately saves the lender from paying expensive overhead costs of retail branch networks that include salaries, training bank staff, and advertising campaigns. Our system ensures that the borrower is completely looked after from beginning to end with a dedicated licensed mortgage broker who is highly specialized and thus has superior knowledge to provide the borrower with the best terms and conditions that meets their needs at the lowest rates available in the marketplace.
Attractive Rates & Mono-line Lenders
When you arrange a mortgage with Synergy you not only gain access to a variety of big banks, credit unions, and trust companies you also have exclusive access to the mono-line mortgage lenders. Monoline lenders specialize in providing mortgages only. There are several distinct advantages to working with a monoline lender. One of the main benefits has to do with the specialized knowledge and outstanding service that the mortgage focused lenders can offer their borrowers. Securitizing some or all of their mortgages, instead of keeping them on their balance sheet, allows them to sell off their mortgage portfolios, generate more immediate revenue, free up their capital, and relend it at lower rates which saves the borrower money. They generally do not cross-sell their customers non-mortgage related products and do not offer bank accounts. This differentiates them from your banks or credit unions. These lenders fund your mortgage through a number of institutional investors such as RBC, Bank of Montreal, TD Bank, as well as various Pension funds etc.
Their business is generated exclusively through established licensed mortgage brokers across Canada. Synergy mortgage has been carefully screened and selected to be approved by a variety of mono-line lenders based on our pristine reputation, and extensive knowledge of the business.
Unbiased Professional Advice
When you deal directly with a retail lender, they are advising you to choose their products. They are biased and unable to provide you an overview and access to what their competition is offering. At Synergy Mortgage your mortgage broker works for you and will offer you a selection of products from a variety of different lenders. You benefit from our market knowledge which allows us to secure the most competitive rates and terms that meet your needs.
You gain access to multiple lenders, with one visit or phone call. Shopping to several lenders can be frustrating, inefficient and time consuming. If you have not put your real estate team together, Synergy Mortgage will refer you to reputable realtors across the province, insurance brokers, property inspectors, appraisers, lawyers and notary publics.
Options for Impaired Credit & Self Employed Borrowers
If you have impaired credit or other qualification challenges, you likely will not fit the traditional lending criteria that most banks and credit unions demand. Being declined by the retail lending institutions can only be time consuming but also very frustrating and disappointing. Avoid this outcome from the start by working with our mortgage brokers to access the appropriate alternative lenders who want your business. We understand your needs and are able to offer lenders with flexible lending criteria who think outside the box.
Home Buyer Incentives & Programs
Synergy Mortgage will make you aware of several incentives and programs that are available to you:
- Receive a $5,000 grant to make your home more energy-efficient
- Use up to $25,000 from your RRSP for down payment
- Receive a $750.00 tax credit for closing costs
- Receive a 10% refund on your mortgage insurance
There are also lenders and insurers who offer retail points programs, discounts on appliances, shopping clubs, and more. We do the math on which offer might be worth your attention.