Buying your first home can be a tough task, especially getting mortgage approval. Each home buyer has unique needs and circumstances, which require different financial considerations. Whether you're a first-time buyer or an existing homeowner, choosing a mortgage broker can make the process much easier.
What does a mortgage broker do?
Though mortgage brokers help their clients in many ways, two of their most important roles are to help home buyers get the best loan and mortgage rate for their home purchase, and to guide buyers through the loan approval process.
Mortgage brokers use their mortgage lender connections to shop on the home buyers' behalf. Moreover, because of their strong relationships with lenders, they can often negotiate the best possible deal on your behalf. A mortgage broker will ensure you get the best loan based on your unique needs, income, and circumstances.
Best of all, having a mortgage broker means that you can avoid the hassle of shopping for the best rate on your own. Your broker will collect your documentation, submit all the applications, and work with your lender to ensure your loan is processed as quickly and as easily as possible.
How is a mortgage broker different?
When it comes to borrowing money to make one of the largest purchases of your life, it only makes sense to rely on a trusted professional. Unlike the big banks, a mortgage broker has access to multiple lenders and can "shop around" to find you the best available offer and rates. Mortgage brokers do not charge their clients for their work; they are paid by lenders, not you. They also deliver personalized service - rather than a "one-size-fits-all" approach, mortgage brokers have the experience and expertise need to find the deal that is right for you and your circumstances.
Advice on multiple options
A big bank can only sell you its' own products, which severely limits your options. However, a mortgage broker has numerous lender connections and therefore, a wide range of products and options available to choose from. A mortgage broker represents your interests rather than the interests of a lending institution. Mortgage brokers take the time to truly get to know each client so that they can have a comprehensive understanding of their needs. This enables them to find the right lender at the right rate based on your specific circumstances and needs - a level of service and customization that is simply not available from a traditional big bank.
Save time & enjoy peace of mind
Applying for a mortgage is not a simple process. In fact, it can be quite complex and time-consuming. Between the endless paperwork, phone calls, emails, and meetings, it's no wonder getting a mortgage is considered one of the most stressful milestone moments in a person's life. When you have a mortgage broker working on your behalf, they manage the process on your behalf from beginning to end. In Alberta, all mortgage brokers must be licenced through the Real Estate Council of Alberta (RECA) and must adhere to strict ethical guidelines and professional practices. Brokerages who are members of AMBA must also comply with our Code of Ethics. When you work with a mortgage broker that is a member of AMBA, you know that you're working with the best mortgage brokers in the industry. To find a qualified broker in Alberta, visit our find a broker page.
Competitive interest rates
Mortgage brokers have the ability to shop around with a variety of lenders, and often have access to lower mortgage rates and mortgage products that may not always be advertised widely. These rates can often be significantly lower than those advertised by banks or credit unions.
Ready to find a mortgage broker to help you with your purchase? Click below to access our list of qualified mortgage brokers.
What does a mortgage broker do?
Though mortgage brokers help their clients in many ways, two of their most important roles are to help home buyers get the best loan and mortgage rate for their home purchase, and to guide buyers through the loan approval process.
Mortgage brokers use their mortgage lender connections to shop on the home buyers' behalf. Moreover, because of their strong relationships with lenders, they can often negotiate the best possible deal on your behalf. A mortgage broker will ensure you get the best loan based on your unique needs, income, and circumstances.
Best of all, having a mortgage broker means that you can avoid the hassle of shopping for the best rate on your own. Your broker will collect your documentation, submit all the applications, and work with your lender to ensure your loan is processed as quickly and as easily as possible.
How is a mortgage broker different?
When it comes to borrowing money to make one of the largest purchases of your life, it only makes sense to rely on a trusted professional. Unlike the big banks, a mortgage broker has access to multiple lenders and can "shop around" to find you the best available offer and rates. Mortgage brokers do not charge their clients for their work; they are paid by lenders, not you. They also deliver personalized service - rather than a "one-size-fits-all" approach, mortgage brokers have the experience and expertise need to find the deal that is right for you and your circumstances.
Advice on multiple options
A big bank can only sell you its' own products, which severely limits your options. However, a mortgage broker has numerous lender connections and therefore, a wide range of products and options available to choose from. A mortgage broker represents your interests rather than the interests of a lending institution. Mortgage brokers take the time to truly get to know each client so that they can have a comprehensive understanding of their needs. This enables them to find the right lender at the right rate based on your specific circumstances and needs - a level of service and customization that is simply not available from a traditional big bank.
Save time & enjoy peace of mind
Applying for a mortgage is not a simple process. In fact, it can be quite complex and time-consuming. Between the endless paperwork, phone calls, emails, and meetings, it's no wonder getting a mortgage is considered one of the most stressful milestone moments in a person's life. When you have a mortgage broker working on your behalf, they manage the process on your behalf from beginning to end. In Alberta, all mortgage brokers must be licenced through the Real Estate Council of Alberta (RECA) and must adhere to strict ethical guidelines and professional practices. Brokerages who are members of AMBA must also comply with our Code of Ethics. When you work with a mortgage broker that is a member of AMBA, you know that you're working with the best mortgage brokers in the industry. To find a qualified broker in Alberta, visit our find a broker page.
Competitive interest rates
Mortgage brokers have the ability to shop around with a variety of lenders, and often have access to lower mortgage rates and mortgage products that may not always be advertised widely. These rates can often be significantly lower than those advertised by banks or credit unions.
Ready to find a mortgage broker to help you with your purchase? Click below to access our list of qualified mortgage brokers.