When most people are ready to purchase a home, refinance, or renew their mortgage the first stop is usually their bank. It makes sense:
1. Your bank is probably one of the Big 6
2. You’ve been doing business with them for years
3. And it’s easy
But this can be a huge mistake! If you want to save time and money that is. Below are some reasons why you might want to consult a mortgage agent first:
Your banker will almost never give you their best rate – it’s just not in their best interest, banks make their money on the rate they charge you.
You will have to negotiate for their best rate – which can take up a lot of time forcing you to shop around. Once negotiated your banker may not have the best rate available
No education required – Bankers are exempt from any educational requirements, and are only required to know the banks products. They simply do not know the industry as well as a licensed Mortgage Broker
A banker works for the Bank. Your mortgage broker works for YOU! – There are over 100 lenders in the market place! The banker works for one and has access to one set of products and policies, mortgage features etc. This is a very small box to fit yourself into. Your mortgage should suit you, not the Lender! Bankers are salaried employees and work in the best interest of the bank, themselves, and then you!
Our Liland Mortgage Company Brokers are employed by you, and legaly obligated to operate in your best interests. Also we are not employees of any lending institution. So we are not limited in the products we can offer you. As your brokers, we seek out the best lender package to suit your specific situation, whether it’s with a Chartered Bank, Trust or Lending Institution. Furthermore we do not get paid unless you are fully satisfied and move forward with the loan.