What is a Mortgage Broker?
A Mortgage Broker is an independent, trained professional licensed to represent and provide you with the best advice for your mortgage needs. Mortgage Brokers primary expertise is locating funding for mortgage financing. They know where the best rates can be found. What's more, they have the knowledge required to present a proposal for financing to lenders in the best way possible to successfully obtain mortgage financing. They negotiate, place, assist in placement, find or offer to arrange mortgage loans on residential and commercial properties for you, the borrower. Lastly a mortgage broker is paid a fee by the bank to serve as a liaison between borrowers and lenders. So the best part that we are free.
All mortgage brokers are licensed and regulated by
the Financial Services of Ontario.
So Why Use/Deal with a Mortgage Broker?
Mortgage Brokers
represent you, the customer, not the lender. Because they are not employees of
a lending institution, Brokers are not limited in the product they can offer
you. Brokers seek out the best lender package to suit your specific situation,
whether it’s with a Chartered Bank, Trust or Insurance Company, or Private
Funds.
Unlike the banks, Brokers don’t cross-sell their clients. They will not encourage you to bring over your savings, checking or credit cards to get their best rates. Brokers can find you the very best rates from multiple lenders nationwide…not just the rates of a single institution.
Brokers are also less concerned than banks about buyers who are self employed, recently divorced or have damaged credit histories including bankruptcies. The can easily originate loans for the self-employed and those preferring no documentation or low documentation loans. It’s also much easier to acquire financing for investment properties and vacation homes through a broker. Very importantly, Brokers are very wiling to work on YOUR TIME … not just during banking hours.
There is a wide assortment of options and features available to homebuyers today and shopping around takes a lot of time and effort. The mortgage process within today's very competitive marketplace intimidates many Canadian homebuyers. It pays to work with a mortgage professional who will represent you and ensure the mortgage you get is the one best suited to your needs.
Unlike the banks, Brokers don’t cross-sell their clients. They will not encourage you to bring over your savings, checking or credit cards to get their best rates. Brokers can find you the very best rates from multiple lenders nationwide…not just the rates of a single institution.
Brokers are also less concerned than banks about buyers who are self employed, recently divorced or have damaged credit histories including bankruptcies. The can easily originate loans for the self-employed and those preferring no documentation or low documentation loans. It’s also much easier to acquire financing for investment properties and vacation homes through a broker. Very importantly, Brokers are very wiling to work on YOUR TIME … not just during banking hours.
There is a wide assortment of options and features available to homebuyers today and shopping around takes a lot of time and effort. The mortgage process within today's very competitive marketplace intimidates many Canadian homebuyers. It pays to work with a mortgage professional who will represent you and ensure the mortgage you get is the one best suited to your needs.
Since real
estate tends to represent the single largest investment most of us ever make,
it is vital to secure the best financing available. Every borrower has
different needs, every property is unique and every lender has its own rules
and programs.
Choosing the wrong mortgage can cost you thousands of extra dollars. Mortgage Brokers are trained professionals who can help you save on your mortgage dollar.
Choosing the wrong mortgage can cost you thousands of extra dollars. Mortgage Brokers are trained professionals who can help you save on your mortgage dollar.
What are the Reasons to use a Mortgage Broker?
- Access to over 36 different lenders, banks, trust companies, investors and financial institutions.
- Fast credit and loan pre-approvals with no cost or obligation.
- Up-to-date on all the mortgage rates, terms and re-payment options available on the market.
- They only specialize in mortgages and are knowledgeable on current trends.
- They are experts at matching you with the best-suited mortgage.
- Get mortgage rates at wholesale, guaranteed up to 120 days.
- They work for YOU, not the bank.
- They increase competition in the market place, thus keeping rates low.
- They save you time and money!Brokers have vested interest in satisfying your needs since they rely on referrals and repeat business.
- Brokers are also more likely to find mortgages for borrowers with credit problems or lack of income.
- Your time is precious and shopping for a mortgage rate is a time consuming task. A mortgage broker will shop and know the best mortgage rates from bank to bank. The best part is, it is a free service.
- Getting the right mortgage advice saves you money.
So to save you time and money speak to a mortgage broker. Become an informed client.
For more information contact your Toronto Mortgage Broker
at 416-920-9931
Follow me on Twitter
Like us on Facebook
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.