Why Using a Mortgage Broker Makes Sense

Posted on 12th December 2018
Tags: canadalend, Toronto, gta, mortgages, mortgage lender, lender,

Beginning the hunt for a new home can be both stressful and overwhelming. Do you look first and then seek a pre-approval, hoping the dream home you stumbled upon will wait for you? Do you try to find a lender first and then explore open houses and enticing listings, not sure of how much you need to spend before you apply for a loan?

In any case, when it comes to finding the right mortgage, it can be helpful to speak with a professional mortgage broker. For starters, they are privy to information from a variety of lenders and will conduct research based on the information their clients provide to find their best match for a loan. It is their job to explore the market so mortgagees don’t have to.

Obtaining a Mortgage

Their role is to be the eyes and ears when it comes to obtaining a mortgage, investigating options on behalf of their clients, then compiling and presenting them—perhaps with recommendations on which one to pursue. This is especially important for new homebuyers, but a useful tool for anyone who needs to secure a mortgage.

How are they Paid?

Mortgage brokers are usually paid by the lenders or they charge their own broker fee. Further, mortgage brokers offer expert insight into the industry to help people save money. They stay abreast of the real estate market, regularly exploring trends and offerings. Consider them a wealth of knowledge about real estate and mortgages for you to tap into.

The Matchmaker you Need

Simply put, mortgage brokers connect their clients to mortgage lenders who can fulfill their individual needs at the lowest rate possible. They are an effective strategy to find the most suitable mortgage lender. Essentially, mortgage brokers play matchmaker for people seeking the best rates and long-term loans.

When searching for a home, there are a lot of complex and unforeseen circumstances to look out for. Enlisting the help of a dedicated professional to offer assistance can help ease some of that inevitable stress.

Contact us for more information about our approach to lending and to learn more about the benefits of working with our experienced team.