The most important thing to understand when comparing your Bank to a Mortgage Broker, is to remember that a Mortgage Broker works for you not the bank.
Although we do have strong relationships with our lenders allowing us to get you quick approvals, the best rates, rate specials & exceptions when needed.
In Saskatchewan we are heavily legislated & required to carry a license that is reviewed annually by the Saskatchewan Financial Commission (regardless of the province we are doing the mortgage in) to ensure we are providing full disclosure, ensure that we are offering the best products to our clients & to ensure that we are working within the clients best interests & virtually doing what is best for the client, not the bank.
In Saskatchewan we are also required to stay up to date with ongoing education within our industry regarding new mortgage rules, fraud prevention, and general industry updates.
Bankers are not required to meet any of the criteria above.
Again, we have very strong working relationships with the banks we work with
There is value well above “best rate” that will come with using a local Mortgage Broker
If you are looking at the simple oranges vs apples analogy there are some key points to consider
1) Working with a Mortgage Broker simply means you are getting the best mortgage rates provided on the market at this time
2) Working with a Mortgage Broker ensures you are working with a professional that is 150% educated in everything related to mortgages.
We do not focus on other types of banking products.
3) Working with a Mortgage Broker (from Saskatchewan) ensures you are working with a professional that is required by law to hold a license and answer to a legislative body.
4) We pride ourselves with being 100% CUSTOMER SERVICE driven.
You will receive a pre-approval from my office within 24 hours or less.
We create an open line of communication from Day one ensuring you understand the process, and ensuring you have access to contact our office whenever you require.
We build our business by referral vs big marketing dollars or fancy commercials.
As your Mortgage Broker I will give you the advice you need now and in the future to keep your credit healthy and strong.
We want to ensure that you qualify for the very best mortgage rate at renewal time over time.
This reflects positively on us and ensures you pay your mortgage off as often as possible!
It seems that recently there has been some lingering controversy:
Bank mortgage specialists and bankers telling clients that when a mortgage broker checks your credit bureau there is more points taken off than when a bank does it.
This is totally false and something banks are trained to say to earn your business.
It’s important to educate my clients so that large financial decisions are not based on a type of fear mongering that can happen when banks are trying to meet their monthly sales targets.
As your Mortgage Broker we are saving clients the leg work of looking around and being well-versed in what terms are favorable.
We are hear to help you build your credit.
What many consumers do not realize is things such as maxing out a line of credit or credit card and leaving it maxed out month over month has much more negative impact than a couple points on a credit pull.
If you have not used a Mortgage Broker I urge you to consider calling me next time you are looking to buy a home, renew your mortgage, set up a Home owners Line of Credit or refinance to access your equity.
Our customer service speaks volumes
Visit my testimonials to get first hand feedback on what you can expect when contacting my office
Have an amazing summer and be sure to share this with friends and family!~~Tammy Wandzura, Mortgage Broker AMP