Let us start by saying a good Mortgage Broker is an essential part of the team. The customized lending options, relationship and sole dedication to this task make good mortgage brokers worth their weight in gold! A mortgage broker does not work within a bank, they work more independently. They have relationships with many lenders.
So, what does a Mortgage Broker do?
The Best Financing
Mortgage Brokers find the best financing options for your needs. Unlike the Bank, brokers can look at dozens of options to ensure that you get the most appropriate package for your needs. Lending rates are important but so is the term, the conditions, the repayment allowances, the ability to pay off the remaining mortgage, transporting the mortgage. The list goes on and on.
Trusted Relationship
Life works best when you work with trusted people. Where a relationship of trust is built and maintained. A good Mortgage Broker does exactly that. They understand where you are currently, where you wish to go and the challenges that you may face in advance. A good Mortgage Brokers bring solutions to you before renewal.
We only work with top-notch Mortgage Brokers. They have been vetted and are very much our trusted advisors for our clients and ourselves.
Due Diligence
Unlike mortgage specialists at a bank, Mortgage Brokers do their due diligence upfront. They ensure that you have your taxes paid, that you prove all that is necessary before you go and purchase a home. This ensures that you are dealing in real terms or in reality, not a fairy tale. You, therefore, know exactly what you can afford, not just a ballpark range. Unfortunately, banks do not typically do this work upfront – they ask that the purchased buy the house or condo with a finance condition – which in most cases is simply not possible in Toronto’s real estate market. You simply won’t get the property.
We ensure that all of our clients are pre-approved before beginning to look for a house. This allows us to be the best professionals we can possibly be. There is no sense showing properties that buyers cannot afford.
