Clients often fail to realize that Canadian Banks have one of the stringiest lending policies in the whole world. Because of that, they are only willing to finance clients.
Another drawback is the bank's abilities to offer only their products, which ultimately limits the client's options as to the best rate and term available for them. You can also visit https://www.fultonmortgagecompany.com/stephenszymanek to get information about the best mortgage professionals in Lancaster.
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On the other hand, mortgage brokers don't have that problem. We work with multiple banks and credit companies to offer a variety of options with only one credit check. Many of us have built personal relationships with many top underwriters in the same banks.
It is a little known fact, but most mortgage professionals are also able to discount rates as well, by foregoing a part of their commissions.
As it currently stands, the world's economy is in a very unstable stage and Greater Toronto's real estate market has never been hotter. Increases in prices of residential houses and condominiums have been remarkable over the last three years.
With many connections in the industry mortgage agents can also recommend other professionals within the industry. Real Estate lawyers, real estate brokers, and appraisers are all a part of our professional circle.
A good mortgage broker will be quick, reliable and always available. Often times, mortgage agents have funding ratios to meet. And therefore it is in their best interest to make sure that they find the right mortgage for you, whether you are an A, B or C client.