Coastal Life Realty Ltd.

Specializing in Pender Island Properties

  • Direct: (250) 629-9998
  • Toll Free: (866) 329-9998
  • Fax: (250) 629-6877
  • Cell: (250) 539-0656
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Coastal Life Realty Ltd.
Direct:(250) 629-9998
Toll Free:(866) 329-9998
Fax:(250) 629-6877
Cell:(250) 539-0656
Coastal Life Realty Logo white

Coastal Life Realty Ltd.
Pender Island, BC
Canada


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Why would I use a mortgage broker over my own bank?

 

It might make sense to use your own bank instead of a broker, but you won’t know unless you shop around.

Mortgage brokers are professional mortgage shoppers.

 

1)      They are in touch with dozens of lenders and can tell you in short order what the most competitive rates are.

2)      They can tell you if your lender or bank lends mortgages in your area.

3)      Different lenders lend for different purposes and to different clients. For instance, if you are self employed, some lenders will treat you more favorably than others.

4)      Many loans officers at branch level are just getting started in their careers and they are not as familiar with the mortgage process as a seasoned mortgage broker. For instance, many lenders have leeway in what documentation is required such as income confirmation and property appraisals. Mortgage brokers know which documents are essential to the lenders and which aren’t. This can save you time and headache.

5)      Brokers only get paid if they get you what you need. In almost all instances, there is no cost to you. If there is going to be a cost, it must be clearly be spelled out in advance. Because a broker gets paid when the job gets done, they answer their phone in the evenings and on the weekends.

6)      In some instances, a broker will not be able to beat your bank. A good broker will let you know. Let a broker find you the best deal they can and compare it to your bank. You have nothing to lose and a lot to gain.

For more information, call Ron Demmers anytime at 1-877-925-9079