Mortgage Broker vs Bank – 5 Reasons to Use a Mortgage Broker

Mortgage Broker vs Bank

Mortgage Broker vs Bank – 5 Reasons to Use a Mortgage Broker

Mortgage Broker vs Bank – 5 Reasons to Use a Mortgage Broker

According to CMHC 39 percent of home buyers used Mortgage Brokers in 2017, up three percent from the following year.

See the Top 5 Reasons why people are turning to mortgage brokers rather than traditional banks.

Top 5 Reasons to Use a Mortgage Broker vs Bank
What is a Mortgage Broker
1) Better Interest Rates Than the Bank
As Mortgage Brokers have access to numerous lenders they are able to shop your application to multiple financial institution. This makes the mortgage lenders compete for your business, often offering lower mortgage rates than the big five banks.
2) Personalized, Fast Service
My average response time on Yelp is 10 minutes. Average turnaround time for a Mortgage Approval is 24 hours. With the ability to remain in contact nights, weekends, days, I offer more flexibility than that of the big 5 banks, while still offer low mortgage rates.
3) Alternative Lenders
While the Big 5 Banks lend under very strict guidelines, Mortgage Brokers work with alternative lenders as well. By accessing B Lenders and Private Mortgage LendersI provide solutions to unique problems (recent self-employed, poor credit history, etc).
4) One Credit Check
Shopping your credit to multiple banks can severely hurt your credit score. By working with a Mortgage Broker your credit is only checked once. I can then shop the same application to multiple mortgage lenders using the initial credit-check.
5) Fast Mortgages
Receive a Mortgage Approval in less than 24 hours. In many cases we can close in less than three days, depending on the type of mortgage and available documentation.

Mark Mitchell – Mortgage Broker London Ontario

Mortgage Broker London Ontario – Fastest Response Time

I understand that when you have questions about your Mortgage that a a few hours to receive a response can seem like an eternity! I specialize in providing a fast response time to all inquiries, questions or comments. My Yelp Page shows an average of 10 minute turnaround time for all responses.

As I do with all of my clients, when we are awaiting a response from the mortgage lender we will touch base every day just to keep in constant contact. I believe in keeping my clients well appraised of the status of their applications. Nothing is worse than not being in the know!

Please Feel Free to Call or Text me at (519)860-2102.

Mark Mitchell – Mortgage Broker London Ontario
920 Commissioners Road East
London, Ontario