Toronto Mortgage Rates is comprised of independent mortgage brokers and agents. There are many advantages to utilizing the services of an independent rather than going to your regular financial institution such as a bank.
Some of the advantages of an independent mortgage company are:
A broker has access to a variety of lenders. Banks typically have a standard rate that they offer to you, their customer. Most of the time, we found that a bank will only offer you a better rate if you bring in a competitive offer and then only if they feel they may lose your business, offer you a better rate to stay. What about your years of loyalty, does that not account for anything? They should be offering their best price up front as a valued customer.
Alternately, we have access to many lenders (including banks) and we know based on your financial situation which lenders to seek out to get the best rate and terms that are best for you, not the lender. Your mortgage is likely your biggest investment and getting the best rate on your mortgage will have a huge impact on your cash flow and overall wealth.
Our relationship with you is based on us getting the best mortgage rate and terms for you initially and at each renewal.
Another huge advantage of brokers over big banks is for individuals (or companies seeking commercial mortgages) is when you are self-employed or have poor or flawed credit. Most big banks prefer to stay within strict financial guidelines and if you fall outside of those guidelines there is a good chance they may decline your mortgage request.
Independent mortgage brokers have access to specialized lenders and private funds that can help those individuals or companies that fall outside the strict requirements of the large financial institutions.
As you can see there are many advantages to talking with us prior to committing to a mortgage with another lender. There is no cost to talk with one of our mortgage consultants. Get a better rate and the facts before you commit. Contact us today.