{"id":8371,"date":"2016-11-25T01:00:01","date_gmt":"2016-11-25T06:00:01","guid":{"rendered":"https:\/\/www.zoocasa.com\/blog\/?p=8371"},"modified":"2023-02-28T11:44:46","modified_gmt":"2023-02-28T16:44:46","slug":"4-reasons-why-you-should-trust-a-broker-with-your-mortgage-and-not-your-bank","status":"publish","type":"post","link":"https:\/\/www.zoocasa.com\/blog\/4-reasons-why-you-should-trust-a-broker-with-your-mortgage-and-not-your-bank\/","title":{"rendered":"4 Reasons Why You Should Trust a Broker With Your Mortgage (and Not Your Bank)"},"content":{"rendered":"<p><em>This article was written by a guest author from\u00a0<a href=\"http:\/\/lendesk.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Lendesk, makers of mortgage software for Brokers and lenders<\/a>.<\/em><\/p>\n<p><span style=\"font-weight: 400;\">Every mortgage application is unique, and no one knows this better than your broker. Depending on many variables such as your credit history, down payment, employment, assets and many more, your broker will be able to find you the best possible rate for your circumstances.\u00a0<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">Knowing the ins and outs of the lending process, and having some insider knowledge of lender products, your broker could save you thousands of dollars over the lifetime of your mortgage. For this reason first and foremost, a broker is the best choice. <\/span><\/p>\n<h2><span style=\"font-weight: 400;\">More Choice in Lenders<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">To find you these great rates, your broker will \u201cshop\u201d your deal around to a number of lenders, who will compete on price to win your deal. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">When you go directly to a bank, you are subject to their small number of borrowing options, with little-to-no flexibility on rates. By dealing with a broker, your deal is exposed to many lender options, increasing your ability to land a better deal on better terms. <\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Your Broker Gives You Personal Attention and Negotiates on Your Behalf<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Most mortgage brokers are concerned with just one thing: getting you the best possible mortgage. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">For that reason, they understand the value of building relationships built on trust. That\u2019s why most brokers get most of their business from the referrals of their existing happy customers and friends. They are in the business of building relationships, and will make sure they approach your deal with transparency and honesty. <\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">When it comes time to lock in the terms of your deal, brokers are savvy enough to make sure you\u2019re getting the best possible deal, and will fiercely negotiate on your behalf. Their insider knowledge could save you a ton of headache, and of course money in the form of interest. Not just that, but brokers are more likely to protect you from hidden fees and undesirable terms, like early repayment clauses, portability (from one house to another) or others, which could result in huge fees from a lender if not negotiated properly. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Making such a large purchase can be very intimidating and you\u2019re already dealing with individual requirements for your real estate agent, appraiser, lawyers etc. If this is your first time, or if it\u2019s intimidating, your broker can help you understand when each party needs which information. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">After all, they\u2019re specialists in this transaction and they are helping you. <\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Best of All, It\u2019s Free to You<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">You may commit to your Broker in the form of a Client Agreement, but you never have to pay them; the winning lender of your deal will pay the compensation to your broker based on the terms of your deal. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">When you take into account that they have negotiated you better repayment terms and interest rates, and the fact that they don\u2019t get paid until a deal is done that pleases all parties, the choice is clear: Brokers are your best option.<\/span><\/p>\n<p><strong><em>Enjoying our content? Subscribe to our free<\/em><\/strong><a href=\"http:\/\/zoocasa.com\/newsletter\" target=\"_blank\" rel=\"noreferrer noopener\"><strong><em>\u00a0weekly newsletter<\/em><\/strong><\/a><strong><em>\u00a0to get Canadian real estate market insights, news, and reports straight to your inbox.<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This article was written by a guest author from\u00a0Lendesk, makers of mortgage software for Brokers and lenders. Every mortgage application is unique, and no one knows this better than your broker. Depending on many variables such as your credit history, down payment, employment, assets and many more, your broker will be able to find you [&hellip;]<\/p>\n","protected":false},"author":41,"featured_media":8373,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"subtitle":"","format":"standard","video":"","gallery":"","source_name":"","source_url":"","via_name":"","via_url":"","override":[{"single_blog_custom":"","sidebar":"","second_sidebar":"","share_position":"","share_float_style":"","post_date_format":"","post_date_format_custom":"","post_reading_time_wpm":"","zoom_button_out_step":"1","zoom_button_in_step":"1","number_popup_post":"1"}],"image_override":[{"single_post_thumbnail_size":"","single_post_gallery_size":""}],"trending_post_position":"","trending_post_label":"","sponsored_post_label":"","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo":"","sponsored_post_desc":""},"jnews_primary_category":{"id":""},"footnotes":""},"categories":[487,468],"tags":[],"class_list":["post-8371","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-guest-posts","category-mortgages-2"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>4 Reasons Why You Should Trust a Mortgage Broker | Zoocasa Life<\/title>\n<meta name=\"description\" content=\"Shopping for a mortgage? 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