Toronto Mortgage Broker – Joe Walsh
“If You’re In Need of a Real Estate Mortgage in Toronto, Should You Be Working With a Toronto Mortgage Broker?”
First of all, I’m totally biased when it comes to working with a mortgage broker or not. I believe in our profession and the value we provide our customers. And if you look at the numbers, 25% of all mortgage in Canada are placed through mortgage brokers as well as 44% of first time mortgages.
I would also say that all mortgage brokers are not created equal. While all mortgage brokers and mortgage agents are qualified to conduct their craft, there are varying levels of experience and specialization that can make a difference with different application scenarios.
For instance, there are mortgage brokers that only focus on residential bank or institutional mortgages. It only makes sense that these individuals are going to have a harder time helping you locate and secure a complex construction financing requirement if its something they’ve never worked on.
Even within a residential or commercial focus, there can be a big difference between bank mortgage, B lenders, and private mortgage lender requirements. Some brokers will have experience in all three layers of the market, some will not have very much. Some will have a stronger support network to assist with deals and some will not.
So one of the key things to take into account when considering different Toronto mortgage brokers is their experience related to the type of real estate mortgage you require. How do you determine this? Go through your scenario with a mortgage broker you’re interested in working with and ask about their related experience in what you’re trying to accomplish, references they can provide, the process they will follow. If you don’t feel comfortable with the answers you’re getting then you’re probably better off interviewing more brokers.
In my experience, most of a borrower’s selection process is their comfort level with any given broker which only makes sense indicating that you should not ignore your instincts before making a selection.
Personally, I take great pride in what I do and I view each client as a partner in the completion of the mortgage application process. I need their help to get the job done properly and I want them to be satisfied with the final result.
If you are looking for a Toronto mortgage broker for a residential, commercial, or construction mortgage requirements, I suggest you give me a call so we can discuss your requirements and see if it makes sense to work together locating and securing a mortgage that will meet your needs.