Your Mortgage Broker Is the Specialist You Need


5th Jul 2017

Your mortgage broker is the specialist in the mortgage industry.  Unlike banks, mortgages are the only thing a mortgage broker sells.  There are no other products that need to be learned.  It’s mortgages.

Banks typically offer higher mortgage rates than the rates that are available. You need to negotiate with a bank to try and obtain a better loan rate.

A mortgage broker, like Vertuity Mortgage, has access to a large network of lenders to find the specialized mortgage to meet a customer’s needs. The mortgage broker can get the better mortgage rates from more than one lender. The mortgage broker does the homework and shops on behalf of the client.  Unlike the bank, the mortgage broker isn’t limited.

Vertuity Mortgage, for example, has access to over 40 different lenders. They will typically work with 5 to 10 lenders that have the products to meet their client’s needs.  Vertuity Mortgage provides an impartial opinion about the different products and isn’t obligated to a particular lender. Vertuity Mortgage works for the client’s benefit.

Bank loan officers have in-house mortgage products they need to sell. The in-house products often have strict conditions around the mortgage that need to be met.  A bank can only offer the limited range of products they offer.  Unlike the banks, the mortgage broker has access to many different lenders with many different products. Options aren’t limited. The mortgage broker is the specialist.

As a specialist, the mortgage broker also makes the time to understand the mortgage process and its governmental rule changes. Housing markets are dynamic and processes and procedures for obtaining mortgages change.  Rules passed by the government in the fall of 2016 are greatly affecting the housing market in 2017.  The mortgage broker learns the rules changes and understands how the changes affect the customer.  It’s not just a matter of securing a mortgage initially.  It’s also a matter of securing a mortgage that’s affordable in the long term.

The best part about working with a specialist like a mortgage broker is the fee.  There isn’t one. Mortgage brokers work on 100% commission and are paid by the lender when a mortgage is completed. A lender’s payment to a mortgage broker could be a flat finder’s fee or a percentage of the mortgage value paid as a commission. The commission may be based on the size of the loan that includes the term of the loan. The mortgage broker is the specialist and works on commission from the lender.

Home buyers are best served by the specialist who can put the time into finding the right mortgage. It’s not just about the mortgage rate.  The right mortgage makes all the difference. Mortgage brokers are the specialists who deliver the right mortgage at the best rate.