Why Deal with a Mortgage Broker?
June 3, 2008 by Danuta Levitzki
Filed under Buying Real Estate, Mortgage & Financing, Popular
Brokers search for the best lender package to suit your specific financial situation, whether it’s with a Chartered Bank, Trust or Insurance Company. There is a wide variety of options and features available to homebuyers today. To find the best offer takes a lot of time and effort. The mortgage process within today’s very competitive marketplace makes many Canadian homebuyers puzzled. It truly pays to work with a mortgage professional that will represent you and ensure the mortgage you get is the one best tailored to your needs.
NOTE: Choosing the wrong mortgage can cost you thousands of unnecessary paid interest money.
Why Should You Go To a Mortgage Broker First?
A professional presentation to a lender on the first application will get the best response and save you valuable time and money. Secondary applications with previous credit bureau inquiries may be more costly.
Often the success of obtaining mortgage approval depends on the way a proposal is presented and to whom it is sent. Your Mortgage Broker is trained to present your mortgage proposal to obtain the most immediate and positive result.
Example: You don’t call an insurance company for insurance – you use an insurance broker, because of their expertise, product knowledge and rates. So remember, call your mortgage broker first!
How Do Brokers Get Better Deals Than Many Banks?
Brokers often develop professional relationships with private sources of funds, termed private lenders. These lenders can provide many various mortgage products not available at conventional sources.
Can You Still Go Through Your Bank With Your Broker?
Yes, letting a Mortgage Broker represent you to your own financial institution can often result in a better rate than you could get on your own.
Written by Danuta Levitzki. Conseillère en Financement Hypothécaire | Mortgage Loan Specialist
For current interest rates or to get more information on mortgage financing feel free to visit her website or call direct at 1-800-605-6154.
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Posted by: Danuta Levitzki, Conseillère en Financement Hypothécaire | Mortgage Loan Specialist
For current interest rates or to get more information on mortgage financing feel free to visit her website at Hypotheca.net or call direct at 1-800-605-6154. 
Great post. I’ve always been warry of contacting a broker just based on the charge.
You can also get better rates by dealing with London Online estate agents theyre cheaper than your high street agents and you can save thousands.
This blog Is very informative , I am really pleased to post my comment on this blog . It helped me with ocean of knowledge so I really belive you will do much better in the future . Good job web master .
Mortgages don’t ever seem to go as smoothly if you don’t consult at least one or two mortgage lenders but this blog brings up a few good points to watch out for. Thanks for the post!
Homebuyers should get to read your very informative post to understand their situation as well as save time and money.