It’s true. My job has a lot of misconceptions of what I do and what I provide for clients. Many people think mortgage brokers exist to provide loans to people who can’t qualify at any bank or credit union. Although, this may be part of the job, it’s not the only part and certainly not the thing that makes my services most attractive to clients. Here’s what I do:
1. Guarantee the best possible rate for your mortgage
Banks work to sell their products at their rates, I work to find you the best rate for your mortgage with no preference to any lender. In fact I use over one hundred lenders nationwide, so if there’s a better rate out there I’ll find it. In fact, your guaranteed to save a bundle when using a broker, take for example our local credit union who offer a five year fixed mortgage at ___, I can offer that same mortgage at a ____rate, representing _____savings over 25 Years. That’s a lot of money, just to stay at your bank.
2. Guarantee to get you the best product possible
Banks are required to know all your lending needs from car loans to credit lines. They have to keep abreast of RRSPS, Mutual Funds, and Stocks. Not to mention the many bank accounts that they carry. It can be very hard for even the most customer-service oriented banker to be able to be certain they are providing the best product possible. A broker only deals with mortgages. This means they have more time to understand all the changes in the marketplace to guarantee you get the best product possible. No matter if you are buying your first home or a major investment home, a broker knows where to find the products that suit your needs.
3. Meet you at any time
Ever get irritated that it seems to take a long time to arrange an appointment with your banker? A broker is not confined to the time frame of the regular work day, and can work and meet with your in the evening or weekends.
A good mortgage broker builds a relationship with you for life. If you run into problems, and can’t make the payments, or a ready for a renewal, a mortgage broker will be there to walk you through the process.
So, keep your bank accounts at the bank and your RSPS with your advisors and hire a mortgage broker today for all your mortgage needs. I’m standing by.
Joel Olson is a Revelstoke-based mortgage broker. You can contact him directly at joel@c3revelstoke.ca. His website is at www.joelolson.ca and his telephone number is 250-814-1627.
