Many couples and individuals go to their bank when they’re interested in finding out if they’re eligible for a mortgage. What they don’t know is that banks are usually limited in what types of mortgages they can offer, and have little flexibility in price & mortgage interest rates. A mortgage broker on the other hand has the flexibility to shop around for the best rates, and can develop relationships over time with the banks themselves, sometimes getting a better rate than you could get on your own.
There are a few things you should look for in a mortgage broker, and we’ve looked at these things when compiling our list:
- Customer Testimonials
- Advertised Interest Rates (Variable & Fixed)
- Other Costs (Consulting fees, paperwork fees, etc.)
- Specialties Offered (Entreprenuers, Low Income, Debt Consolidation, etc)
- Re-Mortgaging Options
- Advice/Articles Available at no cost
Many times mortgage brokers can get you a better rate at a bank that has previously denied your mortgage, based on how they present your case or by offering services to quickly clean up past debts. Here are some of the best mortgage agents in Toronto below.
Phone: (416) 400-8107