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hwy should i use a mortgage broker burlington ontario canada

Should I use a Mortgage Broker?

Although we may have a bit of a biased opinion, we believe it is in your best interest to seek the advice of a Mortgage Broker/Agent.

Here are 8 reasons why you should use a mortgage broker:

 

 1. More options

With a network of over 50 major lenders and a vast number of products to choose from, we can source your ideal mortgage options from banks, credit unions, non-traditional lenders and more. Good mortgage brokers will take the time to find the best option for your unique needs, by avoiding high interest rates and hopefully lowering your monthly payments. Our mortgage professionals are trained  to successfully complete your mortgage with your best financial interests at heart, possibly saving thousands of dollars. 

Often times, people with poor credit, recent bankrupts or even consumer proposals will find it difficult or even impossible to obtain lending. Mortgage brokers have access to products not offered through the “A” Lending channel. These Alternative Lending solutions can keep you in your home until your credit situation improves.

2. Fast and efficient

From the initial assessment of your unique situation, whether it be a First Time Home Buyer situation to ownership of existing homes, right through the closing process, your transactions move quickly when working with us. We do the research and shopping for you so there’s no need for you to waste time organizing appointments with competing mortgage lenders, when you could be house-hunting! A mortgage broker is truly a one stop shop. You will only be required to fill out one application, which we can then submit to multiple lenders on your behalf. Easy Peasy!!!

3. Negotiating on your behalf

Negotiating can be stressful. We act in your best interest and do all the haggling to secure competitive rates and terms that make sense for you. We have the negotiating power because we fund billions of dollars in mortgages and lenders compete for our business. For you that means more negotiating power to get you the best rates and terms for your individual needs.

4. Ongoing support

Even after your successful mortgage transaction, we are a great resource for advice, queries or future needs. We are your trusted experts and should be your first call when you have a question regarding your mortgage. Our advice is free and we will be the first to tell your current lender is offering ”the better deal”. 

We also have insights into local trends and history that may not be noticed at a National Level.  may not even have employees from your local community. Our focus is to build a life-time partnership with you and your family.

5. No Cost to You

We are paid by lending institutions in the vast majority of cases – this means there’s no cost to you, and no surprises. Essentially you get to use all our knowledge, expertise and connections within the industry to secure the best mortgage for your needs, at no cost. *Alternative and private lending may incur fees.

6. Access to Special Offers and Incentives

Many financial institutions offer incentives including cashback or even fee coverage for legal costs or discharge fees. Sometimes, we can tap into those perks and savings and pass them along to you and your family. Ask us about any current offers for your transfer, switch, renewal, refinance or purchase.

7. Expertise

We are specialists providing expert advice and guidance on mortgage products, interest rates

and current housing market conditions. We have relationships built over the last 25 years and counting, with local appraisers ensuring your top dollar when refinancing your mortgage. Our network of Realtors in Ontario, Canada will help you navigate as a first time home buyer or selling your current property. If you are new to real estate market  or have an existing mortgage, we have the tools, contacts and knowledge to make your home financing woes disappear. 

With over 60 housing finance restriction changes since 2006, It is best to have an expert who deals with these regulations day in and day out. For example the latest change, a shared equity FTHBi (First Time Home Buyer incentive) program enacted by the Federal Government. These rule changes and application of them can be daunting for those who have never dealt with a mortgage before.

8. Provincial and Federal Regulation

The mortgage broker industry is highly regulated through federal and provincial regulators to protect you, your family and your future. Our mortgage specialists, have obtained their mortgage agents licenses and are retested periodically to maintain their licenses. Banks are held to a different set of rules and do not require their mortgage staff to have a Mortgage License. 

We believe these to be the main reasons why you should choose and experienced and educated mortgage broker to ensure you are getting the best product for your individual financial needs. If you would like for us to have a look at your current mortgage and offer some free advice, please do not hesitate to contact us today. info@mortgagedesigns.ca 905.333.0255

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