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Broker Vs Banker - Atlantic Canada

11/28/2018

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Broker vs Banker

You want it all: the best available rate with exactly the right features you need to live comfortably with your mortgage and pay if off in record time. If you want the perfect mortgage, you need to shop around. And that’s my strength. I offer access to over 50 of Canada’s leading lenders, including major banks, credit unions, and national, regional and private lenders. I do the research for you, finding you the best mortgage across multiple lenders.

Your bank, as great as they are with your day-to-day banking, may not be the best choice for your mortgage because they represent just one available lender. Access to lender choice is one difference between getting a mortgage from a Bank vs a Broker, here are more:

 YOUR MORTGAGE BROKER YOUR BANK

MORTGAGE RATES Mortgage brokerages negotiate discounted rates with lenders, and have access to rate promotions and specials.Rates are set by the Bank. If there’s a better deal in the marketplace, you’ll have to find it yourself.

OBJECTIVITY Your Mortgage Broker works for you, not any one lender.Mortgage specialists are there to build business for the Bank.

SOLUTIONS Brokers have access to mortgages for the self-employed and those with past credit issues.It is difficult to get a mortgage for certain client situations.

COST The winning lender pays your Broker for the services and solution provided.Mortgage specialists are paid and incented by the Bank.

ONGOING SERVICE Brokers offer ongoing advice after your mortgage closes i.e. how to pay off your mortgage faster, power down debt, finance renovations or invest in property. There have been many regulatory changes, so it’s important to have access to a mortgage expert.No proactive ongoing advice is typically provided. You will get an annual mortgage statement.

AT RENEWAL Your Broker will go to bat for you again to make sure you have the best deal possible.You may not be offered the best deal initially, requiring you to proactively contact the Bank to negotiate.

Getting a mortgage is a very significant financial event. That’s why you want someone who is highly specialized in the mortgage marketplace and focused solely on your needs.

Get in touch for advice that is relevant to your situation.


30-year amortizations can be a smart financial strategy
​

If you have 20 per cent equity or more, you can choose a 30-year amortization mortgage. Homeowners with less than 20 per cent down are not eligible for an amortization over 25 years. A longer amortization allows you to minimize your mortgage payments and free up cash flow for uses like investing, business needs, post-secondary education, maternity leave, home maintenance, or other life situations. You can keep your payments at a shorter amortization and only use this flexibility if the need arises. Having a mortgage that gives you room to breathe may be worth the extra cost in interest, and I can help you determine if this is right for you.

Contact Broker Services at 1 844 940 5927 or Visit us online


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  • PEI Business
    • Atlantic Business Federation
    • PEI Members
    • PEI Business Directory
    • Nova Scotia Business Directory
    • NB Business Directory
    • Stay in PEI
  • Business News
    • News/Feeds/Links/Info
    • PEI Business Federation
    • PEI Business Issues
    • PEI Business Blog
  • Business Services
    • PEI Podcast Rentals
    • Photographer Services
    • Point of Sale Visa MC Debit
    • PEI Bookkeeping & Accounting Services
    • PEI Marketing & Promotions
    • PEI Signs and Printing Services
    • PEI Training, Courses, Online Study
    • PEI Computer, Software Discounts
    • PEI UPS Shipping & Courier Services
    • PEI Business & Personal Services
    • PEI Telephone/Cellular/Long Distance
    • PEI Drone Services
    • PEI internet service provider
    • PEI Web Presence Grant
    • PEI Furnace Oil Savings
  • Insurance Services
    • PEI Employee Benefits
    • Guaranteed Issue Health Plans
    • Blue Cross Travel Insurance
    • PEI Auto Insurance
    • PEI Home Insurance
    • PEI Business Liability Insurance
    • PEI Disability Benefits
    • Application for Disability Insurance
    • PEI Life & Personal Insurance
    • Application for Life Insurance
    • PEI Business Overhead Insurance
  • Financing Services
    • Credit Card Rewards Program
    • Atlantic Equipment Financing and Leasing
    • PEI Mortgage Brokers
    • PEI Point Of Sale Benefits
    • Businesses for Sale, Rent or Lease
    • PEI Small Loans Financing
    • PEI Financial Advisors
    • PEI Bankruptcy & Debt Management Services
    • PEI Loans, Lending, Financing and Banking
  • Web Services
    • Foodbooking Apps and Websites
    • Website Design Services >
      • Web Presence Grant ABF
    • Graphic Design Services
    • Virtual Creations Web Services Studio
    • App Design Services
    • Atlantic Virtual Mall
    • Booking.com Registration
    • Logo Design Studio
    • Atlantica Domains - PEI Business Domains
  • Register
    • Services Pricing
    • Monthly Membership
    • Monthly Full Website
    • Join ABF