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Need help looking for somebody to lend you $$$ for a Canadian mortgage? All you have to do is look for a Canadian mortgage broker!..
Since the Canadian mortgage industry is regulated by the government, all the tasks of mortgage brokers in Canada are subject to the CMHC laws. Despite that, mortgage brokers all over the world...
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It is true what you have heard: You Should Get A Canadian Mortgage Broker!
That is of course, provided you're applying for a Canadian mortgage loan. The reason? Pretty simple: it's because obtaining a mortgage broker's services in these situations is often the best option.
Why you ask? Here are just some of the many reasons:
* They are experts in the mortgage industry. And, since the Canadian Mortgage and Housing Corporation (CMHC) sees to it that this industry is operating as it should, you have more than enough reason to trust in them.
* You don't pay for them, the banks do. There's this misconception that you as the borrower pay for the broker, and that scares most customers off the idea of getting a broker's services. Rest assured that these individuals are lender's commissioned workers. Therefore, you don't necessarily have to pay for their services, and you don't have to pay them even if they're already pre-approved for one mortgage deal that the broker has arranged. However, as CMHC ruled out, there are some brokers who can be commissioned either by the bank or the customer, or both. Make sure you clarify this with your mortgage broker.
* Getting a mortgage broker's services is the most convenient way to work with mortgage lenders. They save you time, energy and resources. Instead of you doing all the scouting and the zeroing-in, all you have to do is to sit back and let the mortgage broker to do all the leg work.
* You get personalized service. No need to prepare for the stiff and, well, drab atmosphere that comes with dealing directly with banks. Here, you get a real live person who sits with you, and talks about and acts on your very own mortgage needs.
Ok, so you're convinced. A broker is the way to go. Obviously, the next question is where does one find a trustworthy and reliable broker to handle this life changing purchase?