LEARNING CENTRE

One of the greatest advantages of using a mortgage broker is getting access to over 50 lenders. A bank will only offer you access to their products, while a mortgage broker can offer you more choices through multiple lenders. With this vast product selection, brokers help homebuyers and owners get the best mortgage for their needs.

What is the best mortgage?

1. The right rate
   

2. The right mortgage privileges

When selecting the right lender your broker will consider:

• Term

• Rate - variable vs. fixed

• Payment flexibility

• Pre-payment privileges

• Restrictions, fees and penalties

• Mortgage portability or assumability

• Qualifying with no income verification
  (self-employed)

Focusing on a rock-bottom rate can mean higher fees and penalties with more restrictive terms when you want to move, refinance or use your mortgage for a debt consolidation. A mortgage broker will give you a sound evaluation of product choices and together will help you decide what option suits your need.