Choosing Your Mortgage Broker.
There is a little doubt that the biggest purchase of your life will be your home. When embarking on your homeownership journey, having the right support and information will make all the difference. Fortunately, I can help!
With access to more than 230 lending institutions including big banks, credit unions and trust companies, mortgage brokers are experts in mortgages. These connections allow me familiarity with a vast array of available mortgage products, and also ensures that the advice I offer is unbiased. Unlike banks focused on signing you for profit reasons, I am a third-party service who get paid no matter which bank I sign you with. This means I can provide the best rate AND unbiased advice because I am focused on helping you achieve your dream.
It is estimated there are nearly 20,000 mortgage professionals in Canada. With so many choices, it is important to find a mortgage broker who works best FOR you.
My Mortgage Toolbox will make it easy for potential homeowners to find the tools they need.
“The idea behind My Mortgage Toolbox was to make it simple for Canadians to manage the mortgage process by putting all the information they need into the palm of their hand,” noted Gary Mauris, Founder and CEO of Dominion Lending Centres.
Some features available through this application include a variety of calculators to help clients determine:
- What they can afford
- The minimum down payment required
- Closing cost estimates
- Total monthly ownership costs
Click here to download my app today!
Understanding is vital in your homeownership journey so make sure to seek out a broker who is going to keep it simple for you and be honest, allowing you to understand exactly what you’re getting in your mortgage.
Ultimately, it comes down to the mortgage product but don’t be blinded by interest rates. It is important that your broker explains everything to you from term conditions to penalties, as well as why you qualified for the rate you need. Of course, the rate matters, but the characteristics of your mortgage matter more and could end up costing you in the long run. You want a broker who’s going to listen to you and ask you about your needs and future goals. What are your plans five or ten years from now? Why are they so important to you as an individual? When looking at any mortgage product, consider that nearly 70 percent of mortgages are broken within three years. Even if you’re sure of today, life happens and tomorrow could be different. Therefore, you must consider the penalties for ducking out of your mortgage earlier and you should know if it is portable.
The best mortgage brokers in the business will make sure all of your bases are covered, and you’re fully aware of what you’re signing onto. The right broker will make the process easier for you, whether it’s buying your first home, shopping for a better rate, or even jumping into investment properties. No matter what stage of life you are in, I’ve got a mortgage product for you.
Written by my DLC Marketing Team
Click here if you like to apply for a mortgage!