When you walk into a bank, you see that bank’s mortgage products. A mortgage broker works differently: your file can be presented to a range of lenders, including banks, credit unions and monoline lenders.
More choice
More lenders means more chances to find a rate, term and set of conditions that fit your situation, especially if your file is not straightforward.
Support through the whole process
A broker helps you with pre-approval, paperwork, negotiating with lenders and planning for renewal, so you are not starting over each time.
Often no cost to the borrower
In most standard residential cases, brokers are paid by the lender rather than the borrower. Ask about fees up front so there are no surprises.
When a bank still makes sense
If you value having your chequing, savings and mortgage in one place, a bank can be a reasonable choice. The best approach is to compare before you decide.
Talk to a Langley Mortgage Broker
Every file is different. If you would like to talk through your own situation, the team at M. Abdullah Mortgages is happy to help. Get in touch or start your application online.
This article is general information, not personal financial or legal advice. Rates, rules and lender policies change, so confirm the current details for your situation before making a decision.
