Generally, there are two ways to get a mortgage in Ontario. You can use a traditional lender, like a bank or a Mortgage Broker. Mortgages are complex and you’re going to have questions. So here are Three Reasons You Should Consider a Mortgage Broker
A Mortgage Broker will save you money
There are many fees that are typically associated when obtaining a mortgage, ranging from application fees to appraisal fees. Often brokers can potentially help by reducing or sometimes even eliminating some of the fees mentioned above thanks in large part to our relationships with a variety of lenders. Brokers are generally able to offer their services for no cost because we only get paid once your mortgage loan is approved and becomes official. When this happens, it is the lenders duty to compensate brokers.
Keep control of your time
Your personal time is important. A licensed mortgage broker will do all the leg work for you. From shopping for the best rates or working to find the best mortgage product for you. Brokers will save you a considerable amount of your own personal time during the mortgage process. Once we sit down together and draw out a plan of your goals and wishes, my team will work to seek the best mortgage based on your unique situation.
From great to not so great credit
It’s true that a great or good credit score makes it easier to get approved, however it certainly isn’t required. Most people think to qualify for a mortgage loan they need to have a tremendous credit score. A mortgage broker like myself can help you get a loan even if your credit score isn’t great. It will all come down to your specific financial situation.
Your trusted Ottawa Mortgage Broker. For a free, no obligation consultation, contact us today!