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Purchasing a home is an exciting, exhilarating experience. It can also be a stressful one if you don’t have the right people helping you and working for you. A professional and experienced independent Hamilton mortgage broker can help you in many ways during the mortgage process. There are a variety of reasons to use an independent mortgage broker rather than getting your mortgage from a bank.

Reasons to Use an Independent Mortgage Broker

Mortgage brokers differ from loan officers at the bank in many ways. First of all, the loan officer at the bank works for the bank. As such, they can only sell you on their particular mortgage products, which may or not be in your best deal. In contrast, a mortgage broker works for you. For this reason, they will not try to sell you on a particular product or lender. Rather, they will search across many Canadian lenders on your behalf to find the mortgage that works specifically for you and your situation at the best possible mortgage interest rates.

Thanks to the relationship that their Dominion Lending Centres have with many lenders, they are able to find a mortgage package tailored to your needs in a short period of time. Your broker will sit down with you, gather all the information on your situation, your needs, and what you feel comfortable paying every month, and they will show you options that matches this criteria. Understand all your mortgage options including fixed vs. variable rates, accelerated payment schedules, lump sum payments, skip a payment and more.

Since the lenders are competing for your business, you are more likely to get a lower interest rate from a lender through your mortgage broker than from the bank. The bank is only able to offer you their rate. Brokers have access to lending products from banks, credit unions, trust companies, finance companies and even private lenders – making it easier for hard to place mortgages.  Mortgage brokers often have access to lending products not available to the general public In addition, your broker can even negotiate with the lender to see if the rate can even be dropped further down.

Your best bet is to work with a mortgage broker that has the knowledge, experience, and training necessary to get you the best Hamilton – Toronto mortgage package possible, which will fit in perfectly with your needs.  You only have to fill out one application and they help you find the right mortgage – all at no cost to you.  Call for your free and confidential consultation today at (905) 847-6611.