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Why a Mortgage Broker is your best option

October 16, 2013 | Posted by: Laking Financial

Why a Mortgage Broker is your best option

Whether you are buying your first home or you have plenty of experience buying and selling real estate arranging your mortgage can be confusing, frustrating and stressful without the help of a mortgage professional.  An experience mortgage broker can make this process easy, stress-free and even fun.  Here are the top 4 reasons why a mortgage broker should be your first choice when buying real estate, refinancing or renewing an existing mortgage:

#1 - One Stop Shop - Mortgage Brokers have access to Canada's top mortgage lenders including, banks, credit unions and mortgage companies.  Some people may not realize that many of Canada's top monoline mortgage lenders only deal with Brokers so to get access to their great products and rates you need to go through a broker.  Due to the large canvas of lenders at their dispossal brokers can shop around and determine the best offer the client can qualify for with one credit bureau inquiry.  Since you don't need to contact all these lenders yourself you will save several credit checks and valuable points on your credit score.

# 2 - Savings - Mortgage Brokers typically are able to obtain lower interest rates then an individual consumer.  Brokers can send lenders several clients per year and are normally rewarded with lower then posted rates.  Even a small difference in rate can save thousands of dollars over the lifetime of a mortgage.

# 3 - Convenience - Mortgage Brokers don't usually only work 9 - 5.  They will meet you when and where it is convenient for you.  So you don't have to worry about clearing time in your busy day or taking time off work for appointments.


# 4 - Professional Advice - Mortgage Brokers are familiar with the entire mortgage market and wide variety of products available.  When you walk into a bank they can only deal with the products they have.


When you combine these 4 reasons together there is no doubt your best choice for any of your mortgage needs is to consult your local mortgage broker.

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