Home Mortgage Broker
7 reasons to use a mortgage broker
For many people, mortgage payments are their single largest expense. However, when financing a home, Most Canadians do not comparison shop to ensure they're getting the best price and terms of mortgages available. This error can cost tens of thousands of homeowners housing dollars in the course of your mortgage.
Here are seven ways mortgage brokers can help:
Access to competitive prices
Brokers deal with multiple lenders that compete and often exclusive access rates. Based on the number of mortgage brokers complete each year also have the power to negotiate discounted rates from lenders, which can be passed on to their customers.
A free service
Mortgage Brokers services "are usually available at no cost to consumers. Brokers are paid by the lender selected by their customers.
Expert advice
Brokers offer a consultation service, advice and solutions that are tailored to the needs of each client. And unlike banks, brokers work for you.
Speed and convenience
Brokers work around the schedule of a client to make the transaction as easy and comfortable as possible.
Pre-qualification
If you are buying a new home or refinance your existing mortgage, an agent can help you get pre-approved mortgage, often with a maximum interest rate guarantee of 120 days.
Canned rating credit
When you shop for a mortgage, there is an accumulation of research lender in the credit report can affect your score credit and, ultimately, the rate and terms of your mortgage. This is not the case of a mortgage broker, who only asked a question and you can still get a lot competing lenders to quote on your business.
Peace of Mind
Accreditation The Canadian Association of Mortgage Brokers has a strict code of ethics that members are required to comply with in order to maintain membership.
About the Author
The House Team is committed to providing quality information to help people make informed decisions about their mortgage financing needs. Compare Canadian Mortgage Rates. Need a mortgage calculator? Mortgage Calculator Ontario. Mortgage Rates Ontario.
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