Why You Should Hire a Mortgage Broker in Brampton

Why You Should Hire a Mortgage Broker in Brampton?

If you are thinking about buying a home, one of the first things that you will need to do is get pre-
approved for a mortgage. You could just call your bank and see what they are willing to offer you but a
better idea is to hire a mortgage broker and get access to the best mortgagee options on the market.
Here are just a few of the reasons why you should hire a mortgage broker:
They work with many different lenders
If you contact your bank for a mortgage, you have essentially limited yourself to one lender and there is
no competition. But a mortgage broker works with dozens of lenders and they can shop around to help
ensure that you get the best rate and terms for your situation.
They can negotiate on your behalf
Especially if this is your first mortgage, it can feel intimidating to ask a lender to give you a better rate
than the one they have posted. Mortgage brokers however never feel intimidated about asking for a
better rate if they know they can get you one. They have long-term relationships with the lenders that
they work with and know when it is possible to get you a better deal.
Mortgage brokers can help with speciality mortgages
It is not always easy to get approved for a mortgage. People who have poor credit, are self-employed, or
new to the country may very well find themselves turned down for a mortgage when they apply for one
with a traditional lender.
Mortgage brokers however have connections with speciality lenders who serve clientele that the big
banks just can’t. If you’ve been turned down for a mortgage by your financial institution, then it may be
time to hire a mortgage broker.
Gain access to the equity in your home
Mortgage brokers aren’t just for people who are looking to purchase a home – they are also for people
who already own homes and who are looking to access their home’s equity. By hiring a mortgage
broker, you can gain access to the equity in your home through a number of different strategies
including refinancing, second mortgages, HELOCs and reverse mortgages. Your broker can review you
situation and provide you with the strategy that makes the most sense for you.
If you are ready to take advantage of these and another benefits by hiring a mortgage broker, then
contact me today for a consultation!

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