Why Choose a Mortgage Broker?

More than 80% of all buyers agree that home ownership is a good long term financial investment. The question nearly everyone has is "who should they work with?" in order to make their dream of owning a home a reality. Read on to find out why the answer is a experienced mortgage broker.

Working With A Mortgage Broker

Hiring a mortgage broker can be one of the easiest parts of the home buying process, and yet, according to a survey by the Mortgage Professionals Canada, 39% of first-time home buyers have a poor understanding of what brokers do and their role in the mortgage process.

Once brokers’ services are explained, the likelihood of respondents to use one jump from 36% to 59%, and even higher as understanding increases.

If you're currently on the fence about who to work with for your mortgage, here are seven great reasons why you should consider choosing a mortgage broker to help you through the process. Without this knowledge you could be leaving thousands of dollars on the table.

why choose a mortgage broker

Lower rates

For most home buyers or people looking to refinance, the interest rate is the major deciding factor in who to work with. At Ardent Mortgages, we have access to a variety of lenders and products that someone working with a bank wouldn't be able to take advantage of.

Because that's the case, we can access rates that may not be available elsewhere, and they can be significantly lower than rates advertised by banks or other institutions.

Not only that, but because we don't only work with the banks, we can offer mortgage solutions that can fit nearly every life situation.

Accessibility

The typical homeowner doesn't have the time to become an expert in the ever changing mortgage industry. At Ardent Mortgages, we have access to lenders' rates and products that can only be accessed through an experienced mortgage brokerage. Our expertise is your advantage.

We have built relationships with banks and other lenders that give us access to products that banks and even other brokerages can't match. Going with a mortgage solution that doesn't fit your exact needs could mean harsh penalties for breaking your mortgage down the road as well as a higher interest rate and that could cost you thousands of dollars over the term of your mortgage.

Mortgage Broker versus A Bank

 

Question

Your Bank

A Mortgage Broker

How many lenders do they search for you?

Just one. The bank will only consider their own products

30 or more, brokers have access to a number of different lenders. Including your bank!

When are they available?

Typical bank hours, Monday to Friday, 9-5

Whenever you need them, your broker is just a phone call away

What do they specialize in?

Banks sell all kinds of products, not just mortgages

Mortgages are a brokers primary focus, all day, everyday

Who do they work for?

The bank

A mortgage broker is independent from the lender and they work for you, the client

How do they make money?

Typically they earn a salary and some sort of commission on your mortgage

Brokers get paid out of a commission paid by the lender for most deals

Do they offer free guides and information on mortgages?

Not usually

Yes! You're ready one right now!

Customization

Not everyone's income is the same and not everybody is in the same life situation. You need to work with someone who can customize a mortgage solution to your needs exactly. A mortgage broker can tailor a mortgage product to your specific needs, whether that is flexibility in payment options, shorter or longer terms, or unique financing.

why choose mortgage broker

Your Ally

Like we mentioned above, getting a mortgage can be a complicated, overwhelming process. You should have an ally on your side that can represent your best interests and fight for you when things get tough. That's where a mortgage broker comes in like Ardent Mortgages.

A mortgage specialist at a bank wants to sell you the bank's mortgage product. That's not an issue when the product fits your needs, but what if you require something that the bank can't offer?

An Ardent Mortgages mortgage agent will always find you the solution that is right for you, not the product that's right for the lender.

Free to you

We may work in the mortgage industry, but Ardent Mortgages is in the business of building relationships with our clients. Our main focus is serving you to the highest level and making sure you get the deal that fits your unique needs.

As a mortgage brokerage we operate on commission, but we're paid by the lenders who ultimately grant you your mortgage. There is no upfront cost to you to working with one of our agents and for each deal we work on, we provide a cost savings breakdown to you to show you the value you are receiving by working with us. If the deal doesn't make sense for you, we don't do it.

We want to earn your referral, and that means getting you the best mortgage solution possible.

Experience

Mortgage brokers have seen it all. In the mortgage industry, experience is invaluable and we'll be able to present you with options and scenarios that may have never crossed your mind and help you account for them. This can mean the difference between a successful deal that saves you thousands of dollars over the term of your mortgage or no deal at all.

Convenience

Ardent Mortgages works for you to get you the results you are looking for. You have a life, a job, a family, other responsibilities and priorities that are important to you. The last thing you need is to spend your time becoming an expert in all the lenders and mortgage products on the market. Our agents take care of all of that for you so you can focus on what matters to you.

You can take as much time as you need to ask questions and we're happy to answer phone calls, emails, and text messages after hours. We will walk you through the options available to you without you having to lift a finger.

As with any service, it's up to you to do your due diligence and find a broker that is right for you. Getting a mortgage is a major life choice and you need to find someone to work with that you can trust, that has your best interests in mind, that has integrity and a dedication to service.

If you want to explore your mortgage options with an experienced and trustworthy mortgage broker, schedule your free consultation with Ardent Mortgages a call today!