Top 10 Reasons to use a Mortgage Broker
1) You access a world of options
Your options are extensive when you have access to over 30 major lenders in Canada. We shop to secure you the lowest rate, saving you thousands of dollars off the bank’s posted rates. You will have the option to choose from a variety of banks, credit unions, trust companies, and other lending sources.
2) No fees for professional service
There is no charge for qualified borrowers to use our service. We are paid by the lenders once your mortgage has funded. These fees are standard industry‐wide, and these costs are not passed on to you.
3) You may access alternative lending options
If you have impaired credit or other qualification issues your lender will likely decline your application. Mortgage brokers offer you access to alternative lenders who have flexible lending criteria.
4) You will save time with one-stop shopping and a team approach
You gain access to multiple lenders, with one visit or phone call to a mortgage broker. Shopping to several banks can be frustrating, inefficient and time consuming. If you have not put your real estate team together, your Broker may refer you to reputable realtors, insurance brokers, property inspectors, appraisers, lawyers and notary publics.
5) You will benefit from our market knowledge
You benefit from our market knowledge to secure the most competitive rates and terms that meet your needs. In the event mortgage rates were to drop lower, we will ensure that the lender honors their lowest rate upon completion.
6) You will be given unbiased advice
When you deal directly with a bank or credit union branch, they are advising you to choose their products. They are biased and unable to provide you an overview of what their competition is offering. A Mortgage Broker works for you and will offer you a selection of products from several different lenders.
7) You will be given the opportunity to compare several lenders
Even if you’ve already been approved for a mortgage by your bank or credit union, you’re not obliged to stop shopping! Let us investigate to determine if you are receiving the most competitive rate. We also go over the terms such as pre‐payment options, portability, and determine if it is an assumable mortgage. We will explain how these options vary from lender to lender and you will feel confident that you are making an informed decision.
8) You may be eligible for ‘New Client’ specials
Many lenders offer a ‘new client’ special incentives that their ‘existing clients’ may not be eligible for. Some people believe that loyalty to their bank will guarantee them the best rates, but we know from experience that this is simply not true in many cases.
9) You will receive fast and efficient service.
Our service guarantees that you will be kept well informed and be made aware of each step in the process to move smoothly towards your closing date. We’ll ensure your mortgage transactions takes place on time and to your satisfaction. We are only a phone call away and available to you 7 days a week.
10) You access opportunities for special incentives and add-ons.
Our Brokers will also make you aware of 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.
