The most compelling of all reasons for using a mortgage broker is to find rates that you cannot normally obtain through your bank. Remember, a mortgage broker brings a volume of business to lenders. Accordingly, lenders generally give preferred and wholesale rates to brokers.
With prices having increased for years in the real estate industry, finding the cheapest home loans in Canada can save you a bundle.
Some people are very detailed and tenacious in life and some are not. When it comes to borrowing money for a home, you need to be very tenacious. In particular, I am referring to the interest rate on your loan. When you are borrowing hundreds of thousands of dollars for your purchase, a quarter point difference in your interest rate can equate to tens or even hundreds of thousands of dollars in interest payments of the loan.
To find the cheapest home loans in Canada, you need to aggressively shop and negotiate with the lenders. Think about when you last purchased a new vehicle. Did you look at one advertisement in the paper and immediately make a purchase from that dealer? I doubt it. Instead, you figured out the vehicle you wanted and then investigated what the various dealers in town were offering.
When it comes to finding the cheapest home loans in Canada, you should do the same exact thing. Many people are shocked to learn that two lenders offering the same exact loan will charge interest rates as much as a point apart on the interest rates, to wit, 5.5 percent versus 6.6 percent. How can the bank charging 6.6 percent get away with it? They know there is a certain segment of the population that is lazy or complacent and will not shop around. The bank starts marketing the loan and gets plenty of business. These borrowers, unfortunately, end up paying tens of thousands of dollars in unnecessary interest payments.
At Home n Work Mortgages, we spend each and every day shopping for the best rates for our clients. We are an independent broker, which means we have access to a wide variety of lenders offering a wide array of loans. Every day, we obtain rate sheets from hundreds of lenders including many that do not deal directly with the public at all, only with brokers. In short, we do the shopping for you.
To find out the best rates on home loans in Canada being offered today, contact us now!
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Rebecca joins the team with over 20 years of business, investment and real estate experience. A true advocate for the consumer, Rebecca brings you unparalleled integrity with unbiased advice. Phone anytime and discover for yourself just how easy and enjoyable the mortgage process can be.
Serving Greater Vancouver District
Maple Ridge, Pitt Meadows & Mission, BC
Direct 604.614.2382
Fax 604.463.7886
rebeccaawram@homenwork.com
www.communitylendingcentre.com
Head Office:
#200 - 5050 Kingsway
Burnaby, B.C.
V5H 4C2
