Broker VS Bank

Tammy Wandzura

What can I offer v.s. the Bank?

Mortgage Broker

  • No fees. Our fee is paid by the lender.  There are no hidden costs.
  • Offer products from multiple financial institutions
  • Must be licensed & subject to a strict set of Provincial and Federally legislated guidelines
  • Provincially legislated to work in the clients best interests
  • Knowledge & experience to negotiate the best possible rate & product for you from multiple lenders
  • Available to assist you during regular business hours – PLUS evenings & weekends
  • Will save you time and money by securing the best mortgage rate and term for your individual needs

Bank

  • Offer only their own institution’s products
  • Limited number of their own products, which may not fit your needs
  • Mortgage negotiation is typically left up to YOU the client to handle on your own and represent your case
  • Bank brokers rate of pay is generally reduced in direct relation to the amount they discount your rate from the bank posted rate
  • Available Banker Hours only