Mortgage brokers are independent professionals who work as liaisons between the borrower and the lender to negotiate mortgage loans. They are specialists who will provide all the information and answers you need to understand the mortgage process.
Finding You the Best Mortgage
All lender terms and conditions are not created equal. Whether you are purchasing a new home, switching your mortgage, or refinancing your existing mortgage, many factors must be taken into consideration. It is your mortgage broker’s job to analyze your specific needs and find the mortgage product that best satisfies your budget and goals.
Shopping the Market
Mortgage brokers have access to numerous lending institutions and investors. They will make sure that you get the best loan possible: the best interest rate,conditions, and prepayment privileges. You won’t have to deal with any financial institution yourself.
Mortgage brokers deal with many of the same lenders you’re used to dealing with, including many of the Big Banks, Credit Unions, and Trust Companies. In some cases your mortgage can even be placed with your current bank (at a better rate)! In addition, mortgage brokers also deal with some innovative broker-only lenders who can offer even more attractive rates and features.
Mortgage brokers strive to provide you with the fastest and most reliable service possible. Operating with the most up-to-date modern software and technology, they usually offer a speedy turn around time on applications. Same day approvals or within 24 hours are typical. Mortgage brokers will take the time to explain all the terms and conditions of your mortgage, clearly explaining the interest rate, prepayment privileges and clarifying any questions you may have, which will help to save you time and money. Mortgage brokers build their reputations on timely service, reliability and a conscientious attitude towards your needs. Their priority is honoring their commitment to you.
Source : IMBA – Independent Mortgage Brokers’ Association of Ontario – www.imba.ca
To find out more about the benefits of using a mortgage broker, contact First Foundation today!