Updated March 2023
Many of our clients were initially uncertain whether they should just deal with the bank that they do their everyday banking with, or explore whether they can get a better deal elsewhere. Luckily, they either had a friend or family member that was an existing client of ours who extolled our service, or they came across our website through an online search.
If someone hasn’t dealt with a mortgage broker before they often have the misconception that people only deal with mortgage brokers when they are declined by their bank for a mortgage. This can sometimes be the case as my experience coupled with access to multiple lenders can often get clients approved after their bank was unable or unwilling to, however, we offer far greater value than just that one scenario.
Are you ready to purchase a home, or refinance your existing mortgage but you are uncertain whether or not to use a mortgage broker to arrange your mortgage?
If so, then look no further than Canadian Mortgage Authority, Inc. As a Grimsby mortgage broker, we understand that purchasing a home, or refinancing your mortgage is one of the largest financial decisions you will make. We also understand that this can seem to be a complex and intimidating process, especially for first-time homebuyers. Even mortgage agents that aren’t experienced find it a complex and intimidating process and are often ill-equipped to properly guide you through the process.
To help you with your decision between using a bank and a mortgage broker easier, we have outlined 5 reasons to use a Grimsby Mortgage Broker:
Reason #1: Access to More Mortgage Choices
At Canadian Mortgage Authority we have access to a vast variety of the nation’s top lenders and financial institutions, including major banks, smaller “low profile banks”, credit unions, trust companies, and what are known as monoline lenders. This means that we can shop around to ensure that you have the best options available to best suit your individual needs.
Banks can only offer a small number of options based on the lending products that they have chosen to offer, what rates they will charge you and their own internal policies that will affect how much they will lend you. They can only offer you a limited number of options that met their needs, not necessarily yours. You could get lucky and have their options align with your needs however do you really want to leave one of the most important financial decisions that you will make to luck?
When dealing with a bank employee you have to keep in mind that as an employee it is their mandate to get the best deal (most profitable) for their employer, the bank, not to get the best deal for you.
Remember your Grimsby Mortgage Broker works for you, not the bank! Our job is to get you the best mortgage deal that best suits your individual needs. By shopping around to multiple lenders, we are able to ensure that we find the best options to meet your individual needs, at the best terms and lowest rate.
Reason #2: Mortgage Brokers Work for YOU
Mortgage brokers work for you, not for the bank. We are not employed by any bank, or lender, but rather work for you. Any advice or recommendations you receive from us are guaranteed to be in your best interest.
Reason #3: Mortgage Brokers Are Experts at What They Do
As an experienced mortgage broker in the Grimsby, Hamilton and St Thomas mortgage industries, I have not only been a licensed mortgage broker since 1992, I have been constantly upgrading my training and knowledge on ever-changing mortgage rules and regulations. I also continue to keep abreast of all the different mortgage and lending options that are currently available to you. Over thirty years of experience in the area have given me a unique understanding of the local real estate markets.
Whatever questions you have, I am here to answer them!
Reason #4: Mortgage Brokers Provide Everything You Need, All in One Place
Instead of going from bank to bank or scouring the internet for the best mortgage rates, which are often lower than what is actually offered once your mortgage is approved, you have the option of having us do the work for you at no cost! While shopping around for the best options for you, we handle all the negotiating and paperwork that comes with the process.
Reason #5: Mortgage Brokers Form Lasting Relationships
We like to consider our clients our friends.
When obtaining a mortgage through a bank, you don’t typically have that connection with the employees you do business with along the way. In fact, you may even be forced to work with a different person every time you go into the bank.
When dealing with a process as important as securing a mortgage, having a trusting relationship is essential.
In Summary:
If you were having a hard time deciding between a bank and a broker for your mortgage needs, I hope that this list of 5 reasons to use a Grimsby mortgage broker helps make the decision easier for you.
Regardless of what type of mortgage service you are looking for, the Canadian Mortgage Authority team is ready to help.
Give us a call today at 905-309- 8799 for more information or to set up a consultation!