Mortgage Broker NZ
Are you undecided about using the services of a mortgage broker or skeptical as to what a mortgage broker can do for you? The purpose of this article is to clarify the many advantages and benefits you will receive when using the services provided by mortgage brokers in Canada. I am optimistic that after reading this article Canadians will have a much better understanding of the services provided by a mortgage broker, and will consider using a mortgage broker for their mortgage financing needs.
What exactly is a mortgage broker?
Basically, a mortgage broker is a representative for all mortgage broker nz of the Canadian lending institutions in Canada. Their function is very similar to that of an insurance broker. A bank representative that works in one particular lending institution is employed by that bank and is aware of every mortgage product that their bank offers. Therefore, when you go into your bank for a mortgage the representative analyzes your situation and chooses the best product their bank offers for your needs. Mortgage brokers act as agents for all Canadian banks, Credit Unions, Trust Companies, finance companies, and individual private lenders. Subsequently, when you visit a mortgage broker for mortgage financing they analyze your specific situation and choose the best product from one of the 50 Canadian lending institutions at their disposal.
In Ontario, mortgage brokers are educated professionals who are licensed and regulated by the Financial Services Commission of Ontario (FSCO). FSCO is merely one of the government agencies that monitor the business practices of mortgage brokers, each province has an agency that provides the same service to Canadians. As a result, these agencies certify that Canadians are being given reliable protection, a thorough comprehension of mortgage products, and a standard of service to meet their individual needs.
So, how exactly will you benefit from using a mortgage broker?
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