We are inundated constantly with so much information on so many topics that it can be exhausting to keep it all straight. Add this to the fact that realistically most of us only go through the mortgage process a few times in our lives so you only have to know it very briefly before getting back to real life. On top of both of too much info and not doing it often is the fact that a mortgage involves your home and your finances making it a potential hotbed of stress. It really is no wonder that many Canadians are not totally familiar with what exactly a mortgage broker does and why they should even consider them. Let’s take a look at why you should give them a call next time you are in the mortgage process.
Mortgage brokers have made the Canadian mortgage market competitive which means lower rates for you and more money in your pocket at the end of the day. According to a CMHC survey, approximately 51% of first time home buyers chose to go through a mortgage broker. They know the pitfalls you need to avoid. Mortgage brokers are a great resource to save you money both now and down the road as well as saving you time and reducing your stress overall. Considering you debt is the largest debt you will ever take on, it just makes sense to ensure you are getting the best mortgage rate and terms possible for your situation.
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