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  Consider a Mortgage Broker

Buying a new home in BC, Ontario, Alberta..anywhere in Canada takes research and time. The effort taken in finding that perfect home should also be spent on finding that perfect mortgage.  BCís economy is booming and there is a lot of competition out there vying for your business. Your bank and other large financial lenders can easily fit you into a mortgage.  Another alternative is to use a Mortgage Broker. Mortgage brokers are fully licensed and regulated under the Canadian Financial Institutions Commission.

Mortgage Brokers may be able to help you find the most suitable mortgage available in the market. If youíre looking for better rates or for a larger mortgage or a lesser down payment than your bank can offer; going to a mortgage broker may be a great alternative.  A mortgage broker is aligned with many different lenders and has the knowledge and ability to search out and find the best terms from the market. The popularity of mortgage brokers has definitely grown over the past few years.

A mortgage broker brings the financial institutions to you Ė a one-stop-shop if you may. More than ever lenders are offering a wider range of mortgages to choose from. A mortgage broker will evaluate your needs and recommend the best options available in the market. The mortgage broker will explain to you the different requirements needed to approve a mortgage i.e. GDS, TDS, PIT, credit reports, the appraisal etc. Mortgage Brokers will help you explore the different lenders and their products. Mortgage Brokers are not aligned with a specific lender or financial institution. They will offer non-bias recommendations as well as help you maximize your purchase.

Itís clearly about finding the best rates. Although your Bank or Credit Union is easily available to you, always consider that they donít necessarily offer the best rates or options in the market. Banks will only discuss the mortgage products they offer. In the past, personal relationships were one of the most important aspects in getting approved for a mortgage and determining your interest rate. Times have changed. There are a multitude of different institutions and mortgage products. Most often, banks only promote the "posted" rates in their branches. FYI, banks often promote their best discounted rates and products to mortgage brokers. These special rates and products are passed down to you.

A mortgage broker will discuss your needs and will offer the best interest rates and solutions available for you. Mortgage Brokers can also provide you with great advice on adjustable rate and variable rate mortgages as well as help you decide the best solutions if you have credit challenges or are self employed.  Each situation is unique. The mortgage broker brings the resources to you and ultimately, the decision is yours.

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