Looking for a Vancouver mortgage broker can be like searching for an accountant or financial planner; mortgages are a major financial decision and its difficult to know who to trust with your financing. It is particularly difficult if you are a first time home buyer and have never worked with a mortgage agent before.
Mortgage borrowers will usually go to someone who they are most familiar with, which is why 70% of all mortgage borrowers go to their bank. The chartered banks are large, established institutions and borrowers have had a history of dealing with them.
If you have never worked with a mortgage broker before, you may wonder why you would use one. Particularly for those who have never had a mortgage with their bank before. (Once your bank charges you a $26,000+ pre-payment penalty the first time, you may re-think your decision.) I have previously covered many of the reasons for working with a mortgage broker in my article mortgage brokers vs. banks. It has also been noted here in the Globe and Mail that even an attractive rate from a bank can have major restrictions. You can get as good or better rates from a mortgage broker, and bank penalties on fixed rate mortgages can be punitive if you pay them out before the end of term.
The next question is why you should work with a Vancouver mortgage broker? This is also a good question, and although my banks vs. brokers article should help with an answer, here are more reasons.
Vancouver mortgage brokers are regulated by the provincial government and all of our lenders are also highly regulated and reputable, and are subject to most of the same regulations as the banks. Mortgage brokers in BC require a mortgage course from UBC and pass a thorough mortgage exam before being licensed. Bank employees are not required to have any licensing to arrange mortgages for their employers.
Mortgage brokers do not charge fees to arrange standard mortgages, exactly the same as the banks.
Vancouver Mortgage brokers have a greater variety of lenders to help get you the best deal. Vancouver mortgage brokers also know specific information on financing real estate in Vancouver, along with any special unique circumstances that might entail.
Working with a Vancouver mortgage broker will help you to get the best deal possible from someone who represents your best interests. We are Vancouver mortgage brokers who work with clients throughout the Vancouver area. We can meet you in your neighbourhood and are available at times that are convenient for you. We do not cost extra compared to the banks, and do not charge you for regular mortgages.
Please call us or fill out the form on this page and we will be in communication quickly, and work hard to get you an approval that pleases you.
5 out of 5 stars
Jeff is a great, knowledgeable and professional mortgage broker. We were impressed how meticulously and fast, he secured our application. We are very happy that we worked with Jeff as he always listened to our needs and provided us with the best advice in the shortest time. We would definitely recommend him to our friends and family.
Thank you very much Jeff to all your hard work because it paid off
Jeff was very helpful and efficient in helping us secure our first mortgage. We are new to the real estate market and Jeff made the process simple and comfortable for us. He was quick to respond whenever we had any questions, and was reachable through text, email, and phone calls at all hours of the day. Highly recommend his services.
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