We have access to wholesale lenders as brokers, who don’t even deal with the public. It’s all brokers they deal with. Wholesale lenders don’t have the financial burden of networking with expensive retail branches. What they do have is lending money, and lots of it. Many are ‘backed’ by other banks’ pension funds, investment funds, mutual funds and even shares! These savings will be passed on to you, the borrower, in the form of mortgage rates that are slightly lower than the retail rates you’d get at your bank. Even the major banks, which appear to give relatively similar rates, often have ‘rate sales’ that are not marketed to the general public. Check Mortgage Loan near me.
CONVENIENCE To see your mortgage broker, you should not wait in line! In fact, you probably don’t need to go anywhere at all, at a time that suits your schedule we will typically come to you or meet you somewhere convenient. This could be a weekend or an evening. When was the last time you called a Sunday afternoon with your banker? Most mortgages can be arranged first through a phone call or over a coffee.
INDEPENDENT We give completely unbiased advice. We are not employed by a specific lender so we can find any of them for some other purpose, based on merit and efficiency. Because we’re not limited to any bank or lender’s lending options and guidelines, we can shop all of them freely. We have instant access, as your personal mortgage shopper, to all the best sales, specials, and promotions. The clerk at your bank won’t tell you that the bank down the street has a special limited time discount, or that another has a free legal and valuation offer this month! We work for You as your mortgage consultant. We are going to argue your cause and negotiate to get the very best rate for you.
FREE In Canada, the lender pays the mortgage brokers directly. So there are never any fees for our services except in very complicated cases of challenging specialty loans. If you happen to be in a unique circumstance, any fee would be revealed and discussed before any work starts. That would be very rare. Mortgage brokers usually receive a referral fee from the lender, and this payout is based on the sum you borrow and on which period, not the interest rate we negotiate on your behalf. This means we have every justification to secure the highest possible rate for you. We have access to most relevant Canadian lending institutions. When they compete with lenders, you win!