What's a Mortgage Broker?

Just as an insurance broker finds you the best deal on insurance, a mortgage broker finds you the best deal on a mortgage. Rather than working for one financial institution, mortgage brokers are independent and deal with several different financial institutions. This allows them to offer you more choices and more competitive rates. It also means their advice is impartial and based on whatever is in your best interest!


Let an expert take care of getting you a better rate.
Because mortgage brokers study rate markets and have direct access to several different lenders, they can offer you highly competitive rates that are among the best available. And, while you may not enjoy negotiating with financial institutions, mortgage brokers do it every day so they can make sure you get the most attractive rate currently on offer.


Mortgage brokers can shop dozens of lenders in the time it takes you to book an appointment at your bank.
Shopping for mortgages can be time consuming and frustrating if you do it yourself. That's why more and more Canadians are relying on mortgage brokers. Brokers know which lenders offer which products and can quickly short list the ones that best match your needs. You'll end up with the best features and rate, all in one stop.


Advice that's based solely on your needs and in your best interest.
Because mortgage brokers don't work for any of the lenders, they won't try to lead you in a certain direction. After making sure they understand your needs, they'll present you with some options and together you'll decide which mortgage is best for you and your financial future. No pressure. No ulterior motives.

Not only do brokers understand everything there is to know about mortgages, they can explain it in plain English.
Mortgage brokers are 100% dedicated to the financing of your home. They know all about GDS, PIT, ARM, LTV, ETO, etc. and can explain everything you really need to know in easy-to-understand terms. So all you have to think about is enjoying an affordable new mortgage in your exciting new home!


Mortgage brokers' expert, unbiased, fast service is free!
Even though mortgage brokers work for you (not the financial institution), they get paid by the financial institution (not you!). The financial institutions' "finders fees" reimburse brokers for bringing them creditworthy customers like you. And since these fees are similar across most lenders, there's no incentive for mortgage brokers to favour one lender over another. In very rare instances--if, for example, you have non-standard credit--a broker may charge a fee, but in the vast majority of cases, there's absolutely no charge of any kind to you!


Mortgage brokers are highly motivated to get your mortgage completed fast.
After they've analyzed your financial situation and goals, mortgage brokers shop several lenders for the mortgages that best meet your needs. Once you agree on the final choice, they place your mortgage with that particular lender. Only after all the details are taken care of and your mortgage is complete do they receive their "finders fee" from the lender. This provides strong motivation for mortgage brokers to keep your deal moving forward to early completion!


Mortgage brokers deal with leading Canadian lenders.
Most of the lenders that brokers deal with are the same reputable, established Canadian financial institutions you're used to. To that list, they also add some innovative broker-only lenders who offer even more attractive rates and features. But rest assured, all the peace-of-mind features you require--like mortgage insurance--are fully available from brokers. They're committed to the highest ethical standards and doing everything they can to ensure your financial future is 100% secure!