Mortgage Brokers
Mortgage brokers work as an intermediary between the client and a lender; brokers work on behalf of the client to arrange their home loan. Due to mortgage brokers working in the wholesale channels with lenders, we are able to offer mortgage rates that clients may not be able to negotiate on their own. Dealing with over 50 lenders give a mortgage broker access to more options, better interest rates plus they have the expertise to help more clients arrange the best financing available based on their specific situations.
Verico mortgage brokers are paid by the lenders where the loan is placed, there are no fees to use a mortgage broker. Any costs to arrange a loan will be the same fees you would have regardless of where you go (ie legal fees, appraisal fees etc). Canada mortgage brokers are fully trained and licensed by the province; true home loan professionals. This expertise is one of the primary differences between a mortgage broker and your banker. Due to the bank carrying the license to sell mortgages, individual staff members do not have to carry a license to sell these products. This usually means the person you deal with at the bank is not an expert, nor are they always fully trained. Mortgage brokers do not sell any other products, just home loans.
Often you will hear of mortgage brokers who work for the bank; this is actually not the case. Banks have mobile mortgage specialists; its a fancy term for someone who competes with a mortgage broker to sell that banks products. A mortgage broker works with 50 different lenders; not just one (you can't be impartial if you only have one product). A broker is independent and works only for you, not the bank. So don't be fooled when you hear banks touting their mortgage broker services; there is no such thing.
Our mortgage brokers in Canada rely on client referrals for our business. This means our primary goal is to arrange the best loan for our clients and make sure they are happy with what we do for them. When you offer the best mortgage rates in Canada and have access to the best home loan products, making your clients happy is usually not a problem.
If you have never used a mortgage broker, call us today to discuss what we can do for you. If you are happy with what your bank does for you, call us any ways and let us show you how much money we can save you on your monthly housing costs. Regardless of your situation, using a mortgage broker to arrange your financing is like saving money, its always a good idea!
Call a Broker today, or apply online for a Free Pre-Approval today.
