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A Mortgage Broker works in your interest

The role of an independent mortgage broker is to negotiate, for you, the best terms of borrowing considering your situation. He is a specialist who is not attached to any particular financial institution or lender. He has access to a range of lending resources and institutions as well as very competitive mortgage rates. In the context where the purchase of a property constitutes your main investment, he is your main asset to plan the best financial strategy according to your reality.

The Mortgage Brokers, members of the RCIIQ, benefit from our large volume of transactions and our privileged partnership with the firm Mortgage Architects. They understand market trends, know the features of the hundreds of proposed mortgage products, and keep themselves informed of any new mortgage proposal or offer. In short, they know all the relevant information.

Go directly to a bank or do business with a mortgage broker?

Mortgage Broker Services

  • The Mortgage Broker works for you and in your interest
  • He has access to many lenders including banks and private lenders
  • He is able to get the best market rate according to your situation
  • He offers a personalized service for the duration of your loan
  • His services are free, it is the financial institution that grants the loan that will pay him

 Services of the bank

  • The broker employed by a bank works in the interests of the bank
  • He only has limited access to the range of mortgage products offered by this bank
  • He only offers the current rate of this bank
  • He can not offer you the products of another financial institution
  • He sends an annual report and a notice of renewal by mail
  • His services are the responsibility of the bank for which he works
Step 1: Communication with a Mortgage Broker

You should contact a Mortgage Broker for the following reasons:

  • Mortgage Brokers have access to more than fifteen banks and credit institutions.
  • They save you time by comparing products and finding what’s best for you.
  • They offer you a mortgage solution that meets your needs.
Step 2: Your Mortgage Solution selection

Mortgages are complex. Your broker will be able to inform you on various points:

  • Differences between open and closed mortgages.
  • Differences between fixed and variable interest rates.
  • Amortization period and duration.
  • Amount and frequency of payments.
  • Early repayment indemnity and restrictions.
  • Additional products.
Step 3: Calculate your budget

Are you trying to determine your purchasing power? Your broker can help you:

  • determine the amount of your down payment.
  • use your RRSP as a down payment.
  • determine the purchase price and the total amount of your mortgage.
  • learn tips to reduce paid interest.
  • assess closing costs, insurance, land transfer tax and legal fees.
Step 4: Purchase and Authorization

It’s time to buy! During this process, your broker will:

  • submit your mortgage application.
  • get a pre-authorization for you.
  • provide you support for the purchase of your home and will ensure that all details of your mortgage financing are settled.
  • present all relevant documents for authorization