Mortgage brokers are independent, licensed professionals who build businesses on finding you the best rates for your mortgage. As most mortgage brokers are not directly affiliated with a big bank, they work with a variety of traditional and less conventional lenders. Chartered banks, trusts, insurance companies and private funders include some of the options a mortgage broker will help you consider until the best rates are found.

What’s more, they have the knowledge required to present a proposal for financing to lenders in the best way possible to successfully obtain mortgage financing. The Canadian mortgage industry is competitive, and choosing the wrong solution can cost thousands of dollars. That’s where our team of experienced, trained professionals comes in.

The simplest answer is rates. Mortgage brokers based in the area you’re looking at purchasing a home within will be better acquainted with the regional marketplace you’re entering. Additionally, mortgage brokers will have built in expertise when approaching lenders – they’ll know what type of financing each lender prefers. Variables like a lender’s interest rates and mortgage type preference can fluctuate with economic circumstances and portfolio size. Mortgage brokers stay current with a variety of different lenders, and knows which institution is currently offering the most attractive solutions.

A professional presentation to a lender on the first application will get the best response and save you valuable time and money. Secondary applications with previous credit bureau inquiries may be more costly. Often the success of obtaining mortgage approval depends on the way a proposal is presented and to whom it is sent. Your Mortgage Broker is trained to present your mortgage proposal where and how it will get the most immediate, positive result.