Mortgage Broker Pros And Cons
“Toronto Mortgage Brokers Provide The Best Value Most Of The Time”
As a Toronto mortgage broker, I believe you’re better off working with a mortgage broker than going it alone, trying to locate the best deal available on the market to you and then figuring out how to meet all the lender requirements in the time you have to work with.
And not only do mortgage brokers have broader access to the market, they also maintain a pulse on how different programs may be changing and which ones may be newly introduced to the market.
The one area where a broker may not always be working to your full benefit is when they are closely affiliated with one or only a few lending sources that reward them for volume and their goal is to place your business there because it may be more advantageous to them than it is to you.
But even in situations where a mortgage broker is aligned with only a handful of mortgage providers, this can still be of benefit to you as 1) they may be able to get you a lower interest rate due to the volume they can leverage and 2) because they work closely with a smaller number of lenders, the broker will likely have an excellent working knowledge of the programs as well as all the administrative requirements to not only get approved but get the deal funded.
Further, working with a smaller lender base will also tend to result in much closer working relationships with the key personnel in the lenders office which can help get problems resolved faster and deals closed more often without issue.
So regardless of how many lenders a Toronto mortgage broker represents or works with, its all about how well they are able to look after you needs and provide the best value in terms of rates, mortgage program options, and service.
The best way to know you’re getting the best representation is to discuss these issues with your Toronto mortgage broker up front and ask for references from other customers they have previously dealt with.
A good working relationship is based on trust and transparency so don’t be afraid to ask your broker of choice how they plan on getting you a good deal and then go through their recommendations with them in detail.
My goal is to create a win/win scenario as I want to have you for a customer for a long time to come and want you to be able to speak positively about your experience dealing with me and my team.
About the Author Joe Walsh
I'm a Toronto Mortgage Broker that arranges mortgage solutions on residential and commercial real estate property. With over 30 years of mortgage financing experience, I'm able to quickly assess your financing requirements and provide relevant solutions for your immediate consideration. Joe Walsh Google+ YouTube Channel