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The Benefits of Consulting a Mortgage Broker

Here is a great reminder of some of the benefits of using a mortgage broker. I have always stated the biggest difference between a using good broker and using a bank is that the bank employee is usually compensated and rewarded by how much money they make off of each client, whereas a good broker’s motivation is to save you as much money as possible.

While talking to a client yesterday, another key point arose that I really hadn’t thought of much. I had called the client to talk about an upcoming mortgage renewal on one of his properties, and as we were gong over some of the details, he reminded me that we have been working together for over 16 years. At that point he thanked me, and said that the biggest benefit to him over the years is that he hasn’t had to explain his situation (his income is comprised of employment income, 2 side businesses, and rental income) twelve different times to twelve different people. Before coming to me, he did his mortgages at his bank and was always dealing with a different employee. He likes the fact that I have all of his information in one place, I remember it, so he doesn’t need to spend hours explaining his income profile. In this day and age of historically low interest rates, every mortgage provider can offer ‘great rates’. Long story short – a good broker can also save you one of your most valuable resources: Time.

Click HERE to read more from the Toronto Star article.

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