We often associate mortgages with banks. Many of our parents got their mortgage from a bank and their parents also got their mortgage from a bank. But are banks the only place to shop for a mortgage? Nope. Enter the mortgage broker.
Mortgage brokers are licensed specialists who work for you. They help home buyers choose the best mortgage option from a variety of lenders. This is one of the key differences between a big bank and a mortgage broker: variety.
More options, more savings
While banks can only offer you their in-house mortgage products, a mortgage broker has access to multiple lenders. With more options to choose from, a mortgage broker is able to find you the best rate on the market. What might look like a small difference–a few tenths of a percent– can mean thousands of extra dollars in your pocket for things like renovations, furniture, and travel. With a mortgage broker, you can be confident that you’re getting the best market rate, without having to go from bank to bank.
We do the negotiating for you
When shopping for a mortgage at a bank, the onus is on you to do the negotiating. For many of us, this can be challenging. A mortgage broker, however, does the negotiating for you. Unless you know how to negotiate and you’re familiar with market rates, a mortgage broker will be able to get you a better rate.
We’re on your side
Banks look out for themselves. We look out for you. You don’t pay for a broker’s service; we receive commission from the lending institution, which means our focus is finding you the best mortgage option.
The Mortgage Experts
Financial advisors deal with many products: credit cards, lines of credit, investments, insurance, the list goes on and on. Mortgage brokers, however, only deal with one thing: mortgages. Because we only deal with one product, we understand that product very well. We can provide you with expert advice, guidance, and suggestions. With a mortgage broker, you have the comfort of having a mortgage expert on your side, helping you find you the best rates and options.
Find out how you can get the best mortgage. Book a free consultation and we’ll help you get one step closer to your dream home.