5 reasons to work with a mortgage broker
Contrary to popular belief, working with a mortgage broker is one of the easiest things about buying a home.
Still, a survey conducted by the Mortgage Professionals Association of Canada found that almost 40% of first-time homebuyers are unaware of the role of a broker in the mortgage process. However, when people learned about the many advantages that mortgage brokers provide, almost 60% of homebuyers choose to work with one.
Save money on your next home mortgage
Why wouldn’t you want to pay the lowest possible mortgage rates? At Capital 360 Mortgage we know that it all comes down to saving money… here are the top advantages of working with our mortgage agents:
1. Lower rates
The key reason people choose to get a mortgage through an agent is because brokers offer rates from multiple lenders, including banks. So Capital 360 Mortgage Agents are less limited than traditional banks, and may even have access to unadvertised rates that can be significantly lower than those you’d find at a traditional bank.
2. Flexibility
Most people are unaware that many quality lenders can only be accessed through a qualified mortgage agent. These lenders often have lower rates, and more flexible mortgage options than big banks. Plus, an experienced mortgage agent can help you avoid harsh prepayment penalties for breaking a mortgage that can appear in the fine print of mortgages from traditional banks.
Working with an experienced agent can help you find a flexible mortgage plan that can save you thousands of dollars in the long run.
3. Customization
Thanks to their ability to access multiple lenders, mortgage agents also have more flexibility to tailor a mortgage to suit your individual needs. This can be especially helpful for entrepreneurs or the self-employed who may find it hard to qualify for a mortgage or who need custom payment terms.
4. No cost
It comes as a surprise to a lot of people when they hear that a mortgage agent’s services are free to them – but it’s true. Your Capital 360 Mortgage agent’s fees will be paid by the lender – not by you.
Some may say the costs trickle down from lender to borrower, but when you compare an agent’s rates to those of a bank, you’ll quickly see that you still come out way ahead in the long term.
5. Convenience
Life is busy. We get it. Which is why working with a mortgage agent makes sense. Your agent will come to you on your schedule to talk about all available mortgage options, saving you from making multiple calls, or visiting multiple bank branches hunting for low mortgage rates.
Why make more calls than necessary? Let an experienced mortgage broker handle the heavy mortgage lifting for you.