Convenience
A mortgage broker will take care of all the details on behalf of their clients – from the meetings with lenders to the negotiation of rates and terms right through to the completion of all paperwork.
The Best Rate
Mortgage brokers have access to multiple sources of funding from the chartered banks to private lenders. They deal with them on a daily basis – and on behalf of a multitude of clients – which gives them the leverage to negotiate the best terms and interest rates for their clients.
Communication
Individuals trying to deal with a financial institution on their own may get lost in the shuffle and find themselves wondering and worrying about what’s happening with their application. Mortgage brokers are highly motivated to work closely with their clients to ensure everything stays on track, as they don’t get paid until all documents are completed and the mortgage is in place.
Pre-qualifying
What’s the maximum amount that a financial institution will loan a client for the purchase of their prospective home? A mortgage broker can help clients determine their financing options at the very start of their home-buying process – and lock in an interest rate for a period of up to 120 days (to guard against fluctuations).
