Your home is a major investment and it is important to do your research and shop around for the best solution and the best mortgage broker that is geared towards your individual financial needs. This can sometimes be a very time consuming and daunting process for many new home buyers or seasoned home owners. This is what an Ottawa Mortgage Broker does on behalf of the client.
Many customers expect that their own bank will give them the best rate and product but realistically, the bank does not have access to all of the lenders and products on the market the way an Ottawa Mortgage Broker would. A bank can only offer the client the limited number of pre-packaged mortgages available to them (the bank). Unfortunately, if the clients do not fit into the lenders guidelines, the client will most likely be declined and have to look elsewhere for mortgage financing. This can become very stressful.
Unlike a bank, Ottawa Mortgage Brokers, have DIRECT ACCESS to a large number of financial institutions including banks, trust companies and private investors. This gives a higher likelihood of approvals as well as access to unique products; many that are only offered through the broker channels. Because of these relationships and the accessibility of a larger number of products, our mortgage brokers have greater leverage in negotiating competitive mortgage products, terms and rates.
A skilled mortgage broker will work to understand the clients specific needs, shop the lenders on behalf of the client and come back with options that best meet their long and short term objectives. This can alleviate a lot of the client's stress.
In most cases the client is able to use the services of the Ottawa Mortgage Broker without being charged a broker fee. Because we are not tied to any one financial institution, your best interest is always forefront with us.
As an Ottawa Mortgage Broker, I feel that customer service is very important when dealing with my clients and my job does not begin and end at funding your mortgage.