Why use a mortgage broker in Vancouver?

Mortgage brokers in Vancouver provide CHOICE…. if you only went to one bank, you will only ever know the rates and terms that one bank has available. It would be like looking at just one home before making your offer to purchase! Yes, they all have fundamental similarities, yet each house has individual differences and details that can prove to be very important. By looking at many places, you found the one that is perfect for you. By considering many mortgages and lenders, your Vancouver mortgage broker can find the one that is perfect for your situation.

Vancouver Mortgage Brokers are Licensed, Educated & Certified

Vancouver mortgage advisors are licensed by the provincial BC government.  While employees of banks do not, by law, need to meet any mandatory minimum education requirements or obtain a government license, Vancouver mortgage brokers do. We complete required industry and finance courses at UBC and must pass a rigorous exam. We are then licensed by the B.C. government, through a process that includes extensive background and criminal record searches. A mortgage advisor in Vancouver must abide by the Mortgage Broker Act and Regulations, which include stringent ethics and confidentiality protocols. By breaking these, or even stretching them, we risk losing our license. Many Vancouver mortgage advisors also belong to professional associations such as the Mortgage Brokers Association of BC or the Canadian Association of Accredited Mortgage Professionals.

Expertise

Unlike the staff at your bank, a mortgage broker in Vancouver does one thing only and hence does it well: mortgages. We don’t want you to move your bank account. We don’t want to sell you RRSPs, foreign currency or investments.   We don’t get transferred around from department to department, but instead, develop specialized expertise in the area of lending and borrowing. Your Vancouver mortgage broker has one goal, and that’s to get you the best mortgage possible.

Independent

Vancouver mortgage advisors are independent: we are not employed by a single lender so that we can consider all of them, based only merit and performance. As your mortgage shopper, we have instant access to all the best rate sales, specials, and promotions.

Mortgage Brokers in Vancouver are Free

The services of mortgage advisors in Vancouver are almost always free, as we are paid directly by the lender. Except for very complicated cases or challenging specialty loans, there are never any fees for our advice and mortgage placement.

Wholesale Rates

Vancouver mortgage brokers have access to wholesale lenders that do not even deal with the public. They only deal with mortgage advisors. Because they don’t have the financial burden of expensive retail branch networks, these savings are passed on to you, the borrower, in the form of mortgage rates that are considerably lower than the retail rates you would obtain at your bank. Even the major banks, which tend to offer reasonably similar rates, occasionally have ‘rate sales’ that are not advertised to the general public.

Convenience

You’ll never stand in a line to see your Vancouver mortgage advisor!  In fact, you probably don’t need to go anywhere at all, as we will typically come to you or meet you somewhere convenient, at a time that suits your schedule. This might be an evening or a weekend. When was the last time you called your banker on a Sunday afternoon? The initial mortgage consult can be done with a phone call or over a coffee. I’ve even done a few over a glass of wine.

Spit and polish

We are specialists, and we know exactly what the lenders are looking for in a successful mortgage application. We will prepare you, provide advice, help you assemble all the necessary documents and then present your application in the best light possible for approval.

Innovative Programs

A Vancouver mortgage advisor will typically collect all the relevant information and then seek out the lender that can provide the best product for the best rate with the fewest complications. Occasionally a borrower might require more flexibility than is offered by conventional a conventional bank. Perhaps the application is challenged with bruised credit, very little in the way of a down payment, or the applicant is self-employed and ‘writes off’ most of their income as expenses. Even though these people would often be declined at their bank, there are many lenders out there with specific programs and mortgages tailored just for these very populations.  Mortgage advisors in Vancouver understand both how and where a loan can be done and can guide you to the right source.

Satisfaction

People like their local brokers in Vancouver! They use them repeatedly and refer their family and friends. Discover what the bright consumers already know….. Smart people use savvy mortgage brokers!