Why Use a Mortgage Broker
Sky Financial Mortgage Brokers are independently trained professionals licensed to represent and provide you with the best advice for your mortgage and financing needs.
Our Mortgage Brokers primary expertise is locating funding for mortgage financing. We know where the best rates can be found because we have the benefit of dealing with multiple lenders at one time. What’s more, we have the knowledge required to present a proposal for financing to lenders in the best way possible to successfully obtain mortgage financing.
At Sky Financial, we take great pride in the service we provide. We have a vested interest in satisfying your needs, since we rely on referrals and your repeat business.
Sky Financial Mortgage Brokers act in you best interest.
Because mortgage brokers are not employees of a lending institution, we are not limited in the products we can offer you. As your trusted broker, we seek out the best mortgage product(s) to suit your specific situation, and we help place you with the lender that perfectly matches what you need.
With the wide assortment of options and features available to homebuyers today, shopping around takes a lot of time and effort. The mortgage process within today’s very competitive marketplace intimidates many Canadian homebuyers, so it pays to work with our mortgage professionals, who will represent you and ensure that the mortgage you get is the one best suited to your needs.
Our mortgage brokers have access to the latest information from over 40 mortgage lending institutions and the negotiating power of Canada’s most influential mortgage brokerage. Let us help you find the best mortgage.
How Mortgage Centre – Mortgage Professional Brokers Get Paid
Sky Financial mortgage brokers are fairly compensated for arranging mortgage financing on your behalf, by the lender, and only when the mortgage in funded. This means that it doesn’t cost you anything to work with our mortgage brokers.
In order to attract your business, lending institutions must allocate a portion of their income to marketing and sales, but representatives working for these institutions have only one financial product to sell – their own. Lenders know you won’t do business with them unless you have had ample opportunity to shop and compare. Therefore, it is in their best interest to compensate mortgage brokers for helping you do exactly that.
*Situations exist where specific clients or properties do not meet conventional lender expectations. In these cases, a mortgage broker may attempt to find suitable financing through alternate sources. A fee, agreed upon in advance, may be charged directly to the client by a mortgage broker.
Frequently Asked Questions about using a Mortgage Broker
Q: Why should I use a mortgage broker instead of going directly to a bank?
A: Mortgage brokers act as intermediaries between borrowers and lenders, offering access to a wide range of mortgage products from various lenders. Unlike banks, brokers work with multiple lenders and can compare rates and terms to find the most suitable mortgage options for your specific needs. They can also negotiate on your behalf, potentially securing better rates and terms than you may find on your own.
Q: How does working with a mortgage broker save me time and effort?
A: Mortgage brokers streamline the mortgage application process by handling the research, paperwork, and communication with lenders on your behalf. Instead of contacting multiple lenders individually, a broker can present you with a selection of mortgage options tailored to your financial situation. They simplify the process, saving you time and effort while ensuring you have access to the best possible mortgage solutions.
Q: Will using a mortgage broker cost me extra money?
A: In most cases, mortgage brokers are compensated by the lenders, meaning their services are typically free for borrowers. Brokers receive a commission from the lender once your mortgage is approved and funded. This allows you to benefit from their expertise and personalized guidance at no additional cost to you.
Q: Can a mortgage broker help me if I have a less-than-perfect credit score?
A: Yes, mortgage brokers can assist borrowers with various credit profiles, including those with less-than-perfect credit scores. They have access to a wide network of lenders, including those who specialize in working with individuals with credit challenges. A broker can help you navigate the mortgage landscape, present options that align with your credit situation, and provide guidance on improving your creditworthiness.
Q: How does a mortgage broker ensure I get the best mortgage deal?
A: Mortgage brokers have extensive knowledge of the mortgage market and the ability to compare offerings from different lenders. They work on your behalf to find competitive interest rates, favorable terms, and mortgage products that match your financial goals. Their expertise and access to a wide range of lenders ensure you have the opportunity to secure the best mortgage deal available to you.