Reasons Why Choose An Independent Mortgage Broker
There are some advantages to choosing an independent mortgage broker. Each day, lenders are offering new features and options which make picking the best arrangement increasing difficult. The competition among lenders is ruthless. Today, more than one in five mortgages in Canada is handled by a mortgage broker. Increasingly more customers are discovering that the benefits of having a mortgage broker are endless. They could save you an incredible amount of time and effort and provide the an assortment of benefits.
The services provided by a mortgage broker are usually free. They offer fair advice and fight to find you the right deal available. Mortgage brokers require only one credit check and one application to search for the right solution to your mortgage requirements. In the time it takes for you to fill out one application at your bank, they can shop dozens of lenders. The majority of the lenders which mortgage brokers associate with are established and reputable. There are even some broker-only lenders available who can provide features and rates that are even more reasonable.
The broker would get paid as soon as the mortgage is approved and is financed that results in service which is efficient and fast. Most lenders offer the same fee, so a mortgage broker doesn't normally favor one lender over another. The only time a consumer is charged is if they have non-standard credit. In these situation, they may be charged a commitment fee.
The mortgage brokers main responsibility is to take care of the consumers best interests, resulting more often than not a more mobile, accessible and personable treatment then you can receive from the lending institution.
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