Mortgage Broker Services Grow In Value
“With All The Changes Going On In The Capital Markets, Mortgage Broker Services Have Become More Important”
The last several months have seen a couple of mortgage interest rate increases, more increases expected, changes in mortgage insurance policies, HST on the way, and housing pricing uncertainty going forward.
As a mortgage broker, all of the above have kept me on my toes and reinforces the role mortgage brokers play for our clients. It seems that every application these days is a bit more challenging to get approved and the amount of discussion to go through all the issues related to a particular property and financial profile has also increased.
Lenders have also become more a bit more cautious as they too work through all the changes. Basically, this amount of change always slows down the works for everyone as a certain amount of efficiency is lost due to everyone in the system adapting to new policies, procedures, and so on.
For the average person trying to make sense of everything in order to make the best potential decision for their family or business, the process can be overwhelming, excessively time consuming, and potentially very frustrating.
When most mortgage broker services are paid by the lender, it makes a great deal of sense to get professional help when working through all this stuff. A bad assumption or missed information can cost you tens of thousands of dollars over time, so its really not worth taking the chance if you don’t have to.
I admit that I’m totally biased when it comes to the topic of using a mortgage broker, but when I see people clearly struggling with the mortgage financing process these days when they’re getting good quality assistance, I can only imagine what its like for those that try to figure things out on their own.
Banks have become more aggressive lately with their sales efforts to try and retain or attract your business. And while these door to door mortgage agents provide excellent service, they still can only provide you with one set of options which may or may not be the best for your particular situation and personal or business requirements.
As a mortgage broker, I have broad access to the Canadian mortgage market at large and I don’t have any biases or preferences with respect to lenders. My objective is to find the best solution to your mortgage requirements, regardless of who the final lender may be.
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