Top 10 Reasons To Use A Mortgage Broker

1.  Get independent advice on your financial options.

Independent mortgage brokers are not tied to any one lender or a range of products. Their goal is to help you successfully finance your property. They make recommendations, drawing from available mortgage products that match your needs.

2.  Save time with one-stop shopping.

It may take weeks for you to organize appointments with competing mortgage lenders. Brokers work directly with dozens of lenders, and can quickly narrow down a list of those that suit you best.

3.  They negotiate on your behalf.

Many people are uncertain or uncomfortable negotiating mortgages directly with their bank. Brokers negotiate mortgages every day on behalf of Canadian home buyers. Their market knowledge secures competitive rates and terms.

4.  More choice means more competitive rates.

Brokers have access to a network of major lenders in Canada, therefore your options are extensive. In addition to traditional lenders, they also know what's being offered by credit unions, trust companies, and other sources.

5.   Ensure you're getting the best rates and terms.

Even if you've already been pre-approved for a mortgage by your bank or another financial institution, you're not obliged to stop shopping! Brokers may find an alternative to better suit your needs.

6.  Get access to special deals and add-ons.

Many financial institutions would love to have you as a client, which is why they offer incentives to attract creditworthy customers. Brokers do the math as to which offers might be worthy of your attention.

7.  Things move quickly!

The broker's job isn't done until after your closing. They'll ensure your mortgage transaction takes place on time and to your satisfaction.

8.  Get expert advice.

When it comes to mortgages, rates, and the housing market, brokers speak in plain language. They can explain mortgage terms and conditions so you can make better decisions.

9.  No cost to you.

There's no charge for a broker's services on typical residential mortgage transactions. Similar to insurance, mortgage brokers are generally paid a finder's fee when they introduce customers to a financial institution.

10.  Ongoing support and consultation.

Once your mortgage is signed and the paperwork is complete, brokers are available if you need advice on your closing details.

by Howard Klein, DLC Perfect Mortgages. 416-460-1621 or hklein@perfectmortgage.net

Howard is available to have a confidential conversation with you, at your convenience.