The Benefits of Mortgage Advice

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The Benefits of Mortgage Advice

Getting a mortgage is getting into a huge financial commitment. For this reason, you can’t afford to go wrong. Whether you are taking a mortgage for the first time, moving home or remortgaging, the wide range of mortgage products available in Ontario, Canada can be overwhelming.

Now this is where mortgage advice from a qualified mortgage broker comes in. The following are some of the reasons you should consider getting mortgage advice.

  1. Variety

Unlike building societies and banks (who only offer you a product from their own range), Ontario mortgage brokers will offer you a variety of mortgage products to choose from.

When you approach a mortgage broker in Ontario, he/she will assess your mortgage needs (and budget) and then go out, search the whole mortgage market (on your behalf) to find the right deal for you.

  1. High rate of acceptance

Even though you can get an appealing mortgage deal yourself, you can’t be sure whether you’ll be accepted or not. Remember, acceptance criteria can vary from one lender to another.

Ontario mortgage brokers understand how different lenders operate (their acceptance criteria). Your mortgage broker should be able to find a deal you’re likely to be eligible for.

  1. Help with the process

In addition to finding a perfect mortgage deal, a mortgage broker can also help you in applying for and setting up the mortgage. The broker handles all the paper work involved and the rest of the process.

Mortgage brokers provide the necessary support throughout the mortgage negotiation period. He/she liaises with the lender to deal with any problems that could cause delays.

  1. You get expert advice

Choosing a mortgage involves more than just picking the cheapest variable rate or fixed rate mortgage you can find. And that is why you need the services of mortgage advice from a qualified and experienced mortgage broker.

Unlike the bank’s branch and call centre staff, mortgage brokers at Richmond Lending are qualified individuals. They are qualified to give expert mortgage advice and best mortgage rates Ontario.

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