Why a Mortgage Broker is Your Best Option
April 21 2015 Posted by Tracy Bennett
Whether it’s your first time or your fifth time, shopping for a mortgage can often be confusing and even frustrating. Besides, who really has the time to research and compare mortgage lenders to ensure the best deal? Then there are all those crazy terms and acronyms- beacon scores, LTVs, IRDs and porting – it can make your head spin!
Take away the frustration and use the expert care of a licensed Mortgage Broker.We work for you, so we can offer more options than any one mortgage lender. There are many mortgage lenders that don’t deal directly with the consumer. Many will work exclusively with brokers who are licensed and offer discounts based on volume and funding ratios. We not only help find the best deal for you, but we stay at your side every step of the way.
There are four main advantages to using a Mortgage Broker: choice, advice, service and savings.
Choice: Only mortgage Brokers can provide the wide range of mortgage products from various lenders to meet your specific financial needs. With over 50 lenders nationally, that gives the consumer access to lenders they would not know existed or what discounts they offered.
Advice: Mortgage Brokers offer alternatives in selecting a mortgage product and other financial services that are best suited for your situation. They can explain the disadvantages to current products and give detail around what is available in the marketplace.
Service: Mortgage Brokers work with your schedule and are there with you from the first meeting to the final close. We are available to answer your emails and calls outside of regular business hours and weekends, unlike bank employees.
Savings: Mortgage Brokers save you money by providinglower interest rates. According to a study conducted by the Canadian Association of Accredited Mortgage Professionals, home owners who renewed or renegotiated with a mortgage Broker, reported an average rate decrease of 1.4% compared with 1.0% among all renewals. This much savings and no fees charged for our service.
These four reasons are why we can assist with your financing requirements and reduce the stress and uncertainty. If you’re thinking about buying your first home, looking to renew your current mortgage or are curious if there is a better deal out there to refinance, we could reduce your high interest debt in to one easy payment. Call us for a full review; there are no costs to use our services!