Why Use a Mortgage Broker?

Going to a mortgage broker is like going to a one-stop shop for mortgages.  Unlike your local bank branch, which can only offer you a mortgage (and mortgage rate) from their suite of products, mortgage brokers have access to many different lenders. When you make an appointment with a mortgage broker it’s just like you’re making an appointment with the major banks, credit unions and monoline mortgage companies except you only need to meet with one person.  A mortgage broker has access to products from multiple lenders of different shapes and sizes which means you will have access to these products as well.

Let’s go into some more detail on the pros for using a mortgage broker:

• Easy: Meeting with a mortgage broker has never been easier. Usually you’ll need one meeting and it can be in person or over the phone, whichever is best for you. Any documentation that is required can usually be sent through email, further streamlining the process.
• Free: You won’t pay a dime to your mortgage broker when you use their services. Instead, they are compensated by the lender.
• Better rates: Most mortgage brokers receive volume discounts from their top lenders, which means you’ll have access to lower mortgage rates than you could secure if you try to negotiate yourself.
• Access to more lenders: When you apply for a mortgage at a bank or credit union, you only have access to the products they offer in house. With a mortgage broker, you’ll have access to dozens of lenders.
• Expert advice: Mortgage brokers are experts at what they do and are accustomed to working with borrowers who may have unique needs, such as freelancers or those with poor credit ratings.
• Independent: Since brokers are independent and don’t work for individual lenders, they can offer impartial advice on a broad range of lenders. They can also advise you on which mortgage products are best for you, and tell you how much mortgage you can afford.

What services does a mortgage broker offer?

Whether you are purchasing your first home or of refinancing your existing residence, I can help. I provide my clients with exceptional customer service as well as competitive mortgage rates. I take the time to make sure your mortgage financing is aligned with your family’s financial goals and you are educated about the mortgage products available so you can be involved in the decision making process. All of this adds up to a stress free mortgage experience. The services that I offer are:

Residential Mortgage

If you are ready to close on your next home, let me arrange the mortgage financing on your behalf. With electronic access to over 50 lenders will ensure that you receive the best rate for the product of your choice, usually within 24 hours!

First Time Buyer

Are you a first-time buyer? The residential property you are about to purchase is probably the largest single purchase, and biggest investment decision you have had to make in your life so far. Let us help you through the confusing maze of lender options, mortgage documentation, and terminology you are dealing with as you work your way through this process. I will provide a mortgage pre-approval, which strengthens your position when negotiating the purchase price of your home and gives you an idea of how much you’ll be comfortable spending.

Debt Consolidation

Have you hit a credit crunch? High interest debt on credit cards can create a lot of stress. Perhaps it’s time to review your debt situation and consolidate your high interest debt into one low manageable monthly payment.

Equity Take-Out

If you have been living in your home over the past 5 years, you have probably had your net worth increase by a substantial amount. The problem is that net worth is not very liquid. If you are ready to invest in your own small business, or you need to fund your child’s university tuition, your home equity can be a ready source of cash to finance your dreams.

Mortgage Renewal

Is your mortgage up for renewal?  Allow me to review the rate your lender is offering you to ensure you are getting the best deal possible and saving the most money.

Personal Line of Credit

We can arrange a convenient personal line of credit at very competitive rates secured against your residential property.

Past Credit Problem/Credit Rehabilitation

Is your credit less than perfect or have you filed for a bankruptcy? Let’s sit down and take a look at how we can get you on track to pay out debts, purchase a home, or achieve any financial goals you have!

Builders Mortgage

Are you building your dream home, and acting as your own general contractor? I can help by arranging the most competitive builder’s mortgage products in the marketplace with up to 3 to 5 construction draws over the construction phase of your project depending on its complexity.

How can I help you get a better deal than your bank?

Lately, you’ve probably been hearing a lot of your friends and co-workers talking about getting their mortgages through a mortgage broker. What’s led to this rapid rise in the popularity of brokers? A lot of things:

• More lenders are now offering a wider range of mortgages to choose from. Consumers have begun to shop around for their mortgage rather than simply taking what their financial institution offers. Lenders have started advertising discounted rates, making it obvious that there’s a good reason to shop around.
• But the biggest reason for the increasing reliance on mortgage brokers is that brokers offer consumers several important advantages:
• Independent, unbiased advice. Mortgage brokers provide mortgages from various lenders, so they’re not tied to one lender or one type of mortgage.
• More mortgage choices. Mortgage brokers have direct electronic access to virtually every major lender in Canada, so they can show you a wide range of rates and features.
• Best-available rates. Mortgage brokers study rates daily and always know where to find the most competitive ones. Plus they know how to negotiate with lenders to ensure you’re getting the best available deal.
• Fast, convenient local service. Mortgage brokers are highly motivated to keep your mortgage moving forward quickly because they only get paid-by the lender-when your mortgage is complete.
• Specialized knowledge. As specialists, mortgage brokers have a thorough understanding of all available products, features and rates. And they can explain everything to you so you know exactly what you’re getting into
• Secure, established lenders. Mortgage brokers deal with the same reputable, established Canadian financial institutions you’re used to. Plus, they have access to some innovative broker-only lenders who offer even more attractive rates and features.

We work and shop for you so you don’t have to. We charge no fees to you, the client, on first mortgages. We will hold your pre-approval rate for 120 days, protecting you from market fluctuations, and show you how you can save money!