Mortgage Broker vs Your Bank

Before you even start looking at homes, it’s a great idea to get pre- approved to know where you stand financially. You don’t want to be falling in love with $700,000 homes when you can realistically afford $500,000 ones. If you have a good relationship with a loan officer from your bank, that’s one way to go, but I always recommend mortgage brokers because the bottom line is: they work for you. Read below to get the bigger picture. Send me an email if you’d like me to refer you to some excellent mortgage brokers who hold an AMP designation.

 

3 GREAT REASONS TO USE A MORTGAGE BROKER
(vs YOUR BANK)

Expert Knowledge
& Advice
For most Canadians, your home is your biggest investment and your mortgage your biggest expense. It is CRITICAL you receive independent, unbiased and expert advice throughout the life of your mortgage.

Mortgage brokers are licensed, regulated & have the highest level of knowledge in the industry when it comes to your mortgage needs (Federal regulations don’t require mortgage licenses for bank employees). Look for one that also holds the only National industry designation (AMP) to uphold the highest ethics and creditability in their profession.

More
Choice
They offer multiple lenders and multiple mortgage products across Canada (vs the banks ONE…).

Would you pay regular price for a new TV or car without shopping around? Would you fly Air Canada without checking Westjet prices? Ironically, most people don’t shop around when they purchase, renew or refinance their mortgage. Silly isn’t it – especially when your mortgage savings can be the same amount as a new car!

More choice means more options to get the best rate, mortgage product – and ultimately pay your mortgage off faster.

Unbiased

100% in YOUR Best Interests

They are independent & not biased to any lender, and work exclusively in YOUR best interests.

They will advise your best strategy to save the most money, for both your current and future investment goals.

If lender ‘A’ offers a better deal than lender ‘B’ they let you know. They continue to watch your rate right up until your mortgage closes.

Lastly, they are paid commission by the lender upon your mortgage closing and in most cases do not charge a fee.