Brokers take the guess work out of the equation.
There are typically two ways to get a mortgage in Canada: from a bank, or through a licensed mortgage professional.
So what’s the difference? The bank only offers the products from their particular institution. Licensed mortgage professionals have access to hundreds of mortgage products through institutions including Canada’s large banks, credit unions, trust companies and other financial institutions. This allows the clients more choice and the comfort of knowing they are getting the best mortgage to suit their needs.
Whether you’re purchasing a home for the first time, taking out equity from your home for investment or pleasure, or your current mortgage is simply up for renewal, it’s important that you are making an educated buying decision with professional unbiased advice.
How much does it cost?
Mortgage professionals work for you, and not the banks; therefore, they work in your best interest. From the first consultation to the signing of your mortgage, their services are free.
A fee is charged only for the most challenging credit solutions, and it’s especially under those circumstances that a mortgage professional can do for you what your bank cannot.