Home

5 Years at 5.35% Fixed rate		  
5 yrs @4.05%, prime-70% )
 
      The Home is our Business


 
 

   

Some of the advantages of using a mortgage broker rather than working directly with a bank are:

A mortgage broker can provide financing which is customized to the borrower needs. A bank has a limited number of loan programs to offer and can offer the consumer only those programs. In contrast, a mortgage broker, who represents dozens of lenders and virtually hundreds of loan programs, can custom tailor a program to the borrower specific needs and not be limited to the constraints of one particular lender.

A mortgage broker acts as advocate and intermediary for the borrower. The broker will negotiate terms and conditions which are more favorable to a borrower than those he or she would receive by working directly with a lender.

There is little or no increase in cost. A mortgage broker does most of the work that a direct lender does, and receives a discounted "wholesale" rate from the lenders s/he works with.

There are numerous lenders that only accept loans from mortgage brokers. These lenders frequently price their loans more competitively than institutional retail lenders.

A mortgage broker is more flexible. On occasion a loan is declined by the intended first lender of choice, or when that lender imposes conditions that are judged to be unworkable, a mortgage broker can repackage the file and easily submit the loan to another lender within a day or two. This is because the mortgage broker processes a package that is generic to all of the lenders with whom s/he works. If a borrower goes directly to a lender and subsequently wants or needs to switch lenders, that borrower would have to start all over with the new lender and could lose 2 to 3 weeks in processing time.

In summary, using the services of a mortgage broker, as opposed to going directly to a bank, is clearly the best way to obtain the most favorable real estate financing.

 

To get the most current mortgage rates,
please leave your email or phone number.

* Indicates required field

 
 
 
Copyright AK Mortgage Plus 2005 | Disclaimer | Privacy Policy
Offering the Lowest Mortgage Rates in British Columbia Canada