FAQs

Check out some of the most common asked questions below.

Mortgage FAQ

A mortgage broker is a licensed professional who serves as a middleman connecting borrowers (those looking to buy homes) with lenders. Our responsibility involves assisting borrowers in selecting the most suitable mortgage option from different lenders and supporting them throughout the application procedure.

Mortgage brokers work with multiple lenders, offering a variety of mortgage products, while lenders are financial institutions that directly provide mortgages. We can help you compare loan options from different lenders to find the best fit for your needs.

Mortgage brokers offer access to a wide range of loan options and can help you find competitive interest rates and terms. We also provide personalized guidance and can save you time by simplifying the mortgage shopping and application process.

Mortgage brokers are typically compensated by the lender in the form of a commission, which is a percentage of the loan amount. In some cases, we may charge borrowers fees for their services. It's important to clarify the fee structure with your broker before proceeding.

Yes, mortgage brokers can assist borrowers with less-than-perfect credit scores. We have access to lenders who specialize in working with borrowers with credit challenges and can provide guidance on improving your credit to secure a better loan.

Mortgage brokers can assist with both home purchases and mortgage refinancing. Whether you're looking to buy a home or refinance an existing mortgage, we can help you explore your options and secure a loan that suits your objectives.

Nothing!

When you deal with a bank, the person you talk to is an employee of that bank. They have to follow the bank's rules. But when you work with a Mortgage Broker, we have to follow the rules set by our province. We also need a license and take tests to make sure we know how to help our clients and do our job well.