A recent survey by CMHC (Canadian Mortgage Housing Corporation) has determined that consumers are increasingly using brokers to help them with their mortgage financing as reported by Canadian Mortgage Trends.
A portion of the article is attached below along with some of the benefits of working with a broker:
2014 CMHC Mortgage Consumer Survey
CMHC’s Mortgage Consumer Survey is one of the best looks at mortgagor behaviour because, unlike most other industry surveys, it focuses only on recent borrowers.
And those recent borrowers are telling us something interesting. Despite fierce direct competition from lenders, consumers are increasingly doing business with brokers. Brokers have picked up market share in 3 out of 4 mortgage categories tracked by CMHC.
Here are some of the benefits of working with a mortgage broker:
- Mortgage Brokers are specialists in ALL mortgage products. Our role is to act as a link between you and
the banks so that you do not have to spend your valuable time shopping around for the perfect mortgage.
- Rather than working for one financial institution, brokers deal with many lenders all across Canada.
Brokers can offer you more choices and more competitive rates.
- Expert, unbiased and fast service is FREE!
- They are not tied to any specific lending institution and yet the perfect lender for your mortgage
reimburses us with a “finder’s fee.”
- There are no broker costs hidden in your mortgage and lenders pay standard fees.
- Every client is going to have different goals, dreams and plans. Some brokers specialize in making sure
that your financing is going to facilitate your dreams.
- Annual reviews to discuss and make plans to pay your mortgage off faster.
- Your broker can be your first stop for all mortgage inquiries and changes going forward, not the lender
your mortgage is placed with. (Optional)
- If your situation requires special attention, brokers have access to several equity and private lenders so
that every client can find the financing they require.
Tony Marchigiano 1-155 Water Street
Mortgage Broker Vancouver, BC
cell: 604 505 7109
fax: 604 909 4666