Competition = Low Mortgage Rates

Wipe Out High Interest before it Wipes You Out

Refinancing your current mortgage not only gives you a better rate, it allows you consolidate all your high interest loans into one easy payment.

It's one of the best ways to improve your credit score and get you saving money at the same time. Learn More

FACT: Making the minimum monthly payment of 2% ($200 to start) on $10,000 of credit at 18% interest will cost you about $38,930 and take 57 years to pay off! YES – its your credit card

Why deal with a Mortgage Broker?

Mortgage Broker represent you, the customer, not the lender. Because they are not employees of a lending institution, Brokers are not limited in the product they can offer you. Brokers seek out the best lender package to suit your specific situation, whether it's with a Chartered Bank, Trust or Insurance Company, or Private Funds.

There is a wide assortment of options and features available to homebuyers today. Shopping around takes a lot of time and effort. The mortgage process within today's very competitive marketplace intimidates many Canadian homebuyers. It pays to work with a mortgage professional who will represent you and ensure the mortgage you get is the one best suited to your needs.

Choosing the wrong mortgage can cost you thousands of extra dollars. Mortgage Brokers are trained professionals who can help you save on your mortgage dollar.

What is a Mortgage Broker?

A Mortgage Broker is a registered agent who works on behalf of a borrower to obtain the best possible mortgage option for that borrower's financial situation. The Mortgage broker is a skilled negotiator and deals directly with the lenders in both standard and non standard borrowing situations. They have access to lenders who may not advertise nationally or be readily available to the consumer so finding the best possible mortgage option holds true.

Lender vs. Broker...

Many people have asked us what the difference is between a mortgage broker and a mortgage lender. A mortgage broker is a trained professional that has access to loan products of different lenders and is licensed to provide you with the best advice for your mortgage needs. Mortgage brokers do not lend money. Most brokerages are small firms providing expertise services and counseling rather than loans. The lender is the one who provides the money to the borrower at the closing table. The lender also makes the final decision regarding loan approval.

So why can't you skip the middle man and go straight to the lender? Many lenders will not deal with the public for a number of reasons. For one, the cost in promoting would be too great. For example, there are many mortgage lenders based in Calgary, Alberta alone. Bridgewater, MRS Trust, Gibraltar Mortgage just to name a few. But how many of those have you actually heard of? Another reason is administration. There is a lot of paperwork involved when you close a mortgage agreement, and it just makes sense dividing up the work amongst the brokers.

Interest Rate Guarantees

Many lending institutions will guarantee you an interest rate as soon as they receive your application. The guarantee means that if mortgage rates go up, you will get the old, lower rate. If you are buying a house, or switching your mortgage (also called transferring), the guarantee can last from 60 to 120 days (2 to 4 months).