There are generally two ways to get a mortgage in Canada: From a bank or from a licensed mortgage professional.
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Benefits of Using a Mortgage Broker
Top 5 reasons to use a Mortgage Broker
Mortgage Broker
Ability to shop multiple lenders to find the best product for the client
Vested interest in the client's success
Educated in all the mortgage products available on the market
This is the broker's personal business, you are not "just a number"
Your personal finance expert, able to be contacted right away. No automated phone answering service.
Benefits of Using a Mortgage Broker
Mortgage Broker are financial experts who work for the client. When meeting our clients we discuss their current financial picture, determine what their future plans are and find mortgage solutions that complement those plans.
The Canadian mortgage market offers many competitive programs available to borrowers that are not general knowledge to the public. These programs, although similar in the end result, each have their own nuances that will benefit a particular client's scenario. Mortgage consultants have a vested interest in their clients' success; therefore, our mission is to find the best mortgage features with the best rate.
Once the mortgage programs have been determined, the broker begins arranging the mortgage. We strive to make the process as stress-free for the client as possible by gathering the necessary documents upfront, booking appraisals, contacting the lawyer and maintaining contact with the realtor. Mortgage brokers do not work a structured 9 to 5 job like bank representatives, our job is not complete until the mortgage is funded and the client has happily moved in to their new home.
Following a successful transaction, mortgage consultants continue servicing their client's mortgage and acting as their personal financial expert.
