HomeLife Cityscape Real Estate

HomeLife Cityscape Real Estate

Mortgage / Home Loan

Mortgage / Home Loan

Qualifying for a mortgage


Many Canadians wonder about using a Mortgage Broker or a Bank.

Here are a few reasons:

Mortgage Home Loan


  

            Professional

As is true with most things in life, it is best to use a professional to have the needed task done correctly. Financing a house is no different when you realize that purchasing a home is the largest financial investment that most Canadians make. Mortgage Brokers are licensed and can, after years of training and experience, become Accredited Mortgage Professionals (AMP). Lending Officer employees (also called "Mortgage Specialists") of the banks are not licensed to deal in mortgages at all. Further, Mortgage Brokers concentrate solely on placing mortgages. They don't open new accounts and help with RRSP queries like bank employees.

   

Compensation

Mortgage Brokers are paid a finders fee by the lender who funds the mortgage. This finder’s fee is based on the size of the mortgage placed, not the interest rate. Employees of the bank are also paid a bonus…based on the interest rate that they can sell the borrower. The bank employee works for the bank and not for you, the borrower. Mortgage Brokers work at no cost for you and are 100% independent of the lender.

   

Wider Choice

When a borrower deals with a bank, he is limited to the bank's products and guidelines. If you don't fit these guidelines, you are declined and abandoned. Mortgage Brokers have access to approximately 40 lenders with products and rates that fit most borrowers. You are not abandoned!

   

 

        Rates

The majority of lenders that Mortgage Brokers deal with do not have traditional branches like the big banks. This reduces the cost of doing business for these lenders. These cost savings are passed along to you, the borrower, in the form of lower interest rates. These rates are typically lower than those offered by the big banks and there are no posted rates, only discounted ones.

   

Summary

Why a Mortgage Broker?

1) Services come at no cost to you

2) Lower rates than offered by the big banks

3) Experienced and professional

4) Wider choices and options

5) Works for you

                                                   Why Bob Alexander?

I became a mortgage associate in 2002 after being declined by my banker of ten years. I was hoping to buy a rental property at that time and had a great, well-paying job, excellent credit, and high personal net worth. So why was I declined?

Knowing what I know now, the only reason that I was declined was due to an inexperienced personal loans officer. I could not have been an easier client. As a result of being declined, a friend introduced me to his mortgage associate; I was immediately approved (and the associate laughed all the way to the bank). I enjoyed the experience so much that I decided to become a mortgage associate and make sure that my clients never encounter such a negative experience for no reason!


Bob Alexander


B.Comm, CMA, AMP

403-241-3949

403-875-5270 cell

www.mortgagedoctors.ca

Verico Maximum Mortgage Inc

  



   


























         Professional     

As is true with most things in life, it is best to use a professional to have the needed task done correctly. Financing a house is no different when you realize that purchasing a home is the largest financial investment that most Canadians make. Mortgage Brokers are licensed and can, after years of training and experience, become Accredited Mortgage Professionals (AMP). Lending Officer employees (also called "Mortgage Specialists") of the banks are not licensed to deal in mortgages at all. Further, Mortgage Brokers concentrate solely on placing mortgages. They don't open new accounts and help with RRSP queries like bank employees.


Compensation  


Mortgage Brokers are paid a finders fee by the lender who funds the mortgage. This finder’s fee is based on the size of the mortgage placed, not the interest rate. Employees of the bank are also paid a bonus…based on the interest rate that they can sell the borrower. The bank employee works for the bank and not for you, the borrower. Mortgage Brokers work at no cost for you and are 100% independent of the lender.


Wider Choice  


When a borrower deals with a bank, he is limited to the bank's products and guidelines. If you don't fit these guidelines, you are declined and abandoned. Mortgage Brokers have access to approximately 40 lenders with products and rates that fit most borrowers. You are not abandoned!





       Rates    

            


The majority of lenders that Mortgage Brokers deal with do not have traditional branches like the big banks. This reduces the cost of doing business for these lenders. These cost savings are passed along to you, the borrower, in the form of lower interest rates. These rates are typically lower than those offered by the big banks and there are no posted rates, only discounted ones.


Summary


Why a Mortgage Broker?


1)       Services come at no cost to you


2)       Lower rates than offered by the big banks


3)       Experienced and professional


4)       Wider choices and options


5)       Works for you   

 Why Bob Alexander?

I became a mortgage associate in 2002 after being declined by my banker of ten years. I was hoping to buy a rental property at that time and had a great, well-paying job, excellent credit, and high personal net worth.  So why was I declined?

 

Knowing what I know now, the only reason that I was declined was due to an inexperienced personal loans officer.  I could not have been an easier client.  As a result of being declined, a friend introduced me to his mortgage associate; I was immediately approved (and the associate laughed all the way to the bank).  I enjoyed the experience so much that I decided to become a mortgage associate and make sure that my clients never encounter such a negative experience for no reason!


Bob Alexander


B.Comm, CMA, AMP

403-241-3949

403-875-5270 cell

www.mortgagedoctors.ca

Verico Maximum Mortgage Inc

Have Questions?

reCAPTCHA
Disclaimer By entering my contact information I give my express consent to be contacted by 'HomeLife Cityscape Real Estate' and or real estate salespeople on behalf of 'HomeLife Cityscape Real Estate' to discuss potential services.