When shopping for a mortgage, many home buyers enlist the services of a mortgage broker to find them the best terms and rates. Working with an experienced, competent mortgage broker can help you find the right mortgage, but there are both advantages and disadvantages that you should consider before committing to one.

According to a survey study of 2011, it has been estimated that 81% of the buyers in Canada rely on the services of professional mortgage broker for advice and consultation.

Following reasons explain why you use the services of mortgage broker.

Advantages

  1. Free of Cost Services

Since mortgage brokers are only paid when a loan is approved and signed, their assistance will cost you nothing. There are several different types of fees that can be involved in taking on a new mortgage or working with a new lender. In some cases, mortgage brokers may be able to get lenders to waive some or all of these fees which can save you hundreds to thousands of dollars

  1. Mortgage Brokers Choose their Clients

Mortgage brokers help those with less-than-perfect finances secure a loan. For those with blemishes on their credit report or a low household income, a broker might be able to negotiate better rates than if you approached the lending institutions yourself. Some lenders work exclusively with mortgage brokers and rely on them to be the gatekeepers to bring them suitable clients. Brokers may also be able to get special rates from lenders due to the volume of business generated that might be lower than you can get on your own.

  1. Time Saving Option

Mortgage brokers have regular contact with a wide variety of lenders, some of whom you may not even know about. Mortgage brokers will do all of the legwork for you in terms of paperwork and negotiating with lenders. They will also be your point of contact for everything related to your financing.

At Avon Financial our brokers can help you find suitable loans or credit packages and arrange special deals. With so many different credit providers to choose from, we guarantee you to do the legwork for you as per your requirements.

Contact us:

info@avonfinancial.com
Ph: 905-216-5563

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