Why Use a Broker?
FACEOFF: Bank vs. Broker
We’re in hockey playoffs, so let’s talk about the faceoff: bank versus broker. The fact is, there’s really no contest on this one. The broker wins the faceoff every time. That’s a heck of a game advantage. But let’s talk about why it happens: because it’s worth reminding ourselves why the smart money is always on the broker.
Available from a Mortgage Broker
Available from a Bank
|Mortgage Choice||Over 50 lenders, including most of the major banks, credit unions, and national, regional and private lenders.||Every bank has its own menu of house mortgage products.|
|Mortgage Rates||Mortgage brokerages negotiate discounted rates with lenders, and have access to rate promotions and specials.||Rates are set by the Bank. If there’s a better deal in the marketplace, you’ll have to find it yourself.|
|A mortgage broker works for you, not any one lender.||Naturally, mortgage specialists are there to build business for the bank.|
|Ongoing Service||Brokers offer ongoing advice and conduct annual mortgage reviews, showing you how to pay off your mortgage faster, power down debt, finance renovations, or invest in property.||No proactive advice is typically provided. You will get an annual mortgage statement.|
|At Renewal||Your broker will go to bat for you again – to make sure you have the best product and rate.||You may not be offered the best deal initially, requiring you to proactively contact the bank to negotiate.|
Time to buy a home, refinance or renew your mortgage? Get the advice you deserve.
Call ANIL DODANI today at: 647-705-6414