The Benefits of Using a Mortgage Broker/Licensed Mortgage Associate as Opposed to a Bank
Obtaining a mortgage can be a complicated and overwhelming process, especially for first-time homebuyers. When it comes to securing a mortgage, there are two options: using a mortgage broker or going directly to a bank. While both options have their advantages and disadvantages, there are several benefits to using a mortgage broker or licensed mortgage associate that homebuyers should consider.
As a licensed mortgage associate serving Saskatoon, Canada, I often get asked the question, "Why should I use a mortgage broker instead of a bank?" This is a great question and one that I'm happy to answer.
In this blog post, I'll be sharing the top five benefits of using a mortgage broker instead of a bank, and why it can be a great choice for anyone looking to get a mortgage.
1. More Options for Mortgage Products
As a mortgage broker, I have access to a wide range of mortgage products from different lenders. This means that I can help you find the best product for your specific needs, whether you're looking for a fixed or variable rate, a long or short-term mortgage, or something else entirely. Unlike a bank, which is limited to offering its own mortgage products, a mortgage broker can offer you more choices and help you find a product that truly meets your needs.
2. Personalized Service
When you work with a mortgage broker like me, you get personalized service that's tailored to your specific needs. I take the time to get to know my clients and understand their financial situation, so I can help them find the right mortgage product for their unique needs. At a bank, you're just a number, and you don't get the same level of personalized attention that you would with a mortgage broker.
3. Access to Better Interest Rates
As a mortgage broker, I have access to wholesale interest rates that are not available to the general public. This means that I can often get my clients better interest rates than they would be able to get if they went directly to a bank. Saving even a fraction of a percent on your interest rate can make a big difference in the long run, so working with a mortgage broker can really pay off.
4. Negotiating Power
As a licensed mortgage associate, I have experience in negotiating with lenders to get my clients the best possible mortgage terms. I can use my knowledge of the industry to negotiate on your behalf and help you get a mortgage that's more favorable to your financial situation. This is something that you don't get when you work with a bank, where you're just another customer in a long line of customers.
5. Convenient and Flexible Service
As a mortgage broker, I provide customized and adaptable services designed to meet the unique requirements of my clients. With the added benefit of flexible hours, including evenings and weekends, accommodate both virtual and face-to-face consultations.
Working with a licensed mortgage associate like myself can offer a range of benefits over going directly to a bank. From more mortgage product options and personalized service, to better interest rates and negotiating power, there are many reasons to consider using a mortgage broker.
If you're looking for a mortgage in Saskatoon or the surrounding area, don't hesitate to reach out to me at Audra Kish for personalized service that meets your unique needs.
To learn more about the services I offer, click here. To access my mortgage calculators, click here. To contact me, click here or call (306) 290-8083.