Mortgage Articles

Mortgage Brokers - Your Best Option

Learn how mortgage brokers can help you and what services they can provide

Mortgage brokers have access to a vast network of financial institutions including most major banks. They can provide the latest market information because they deal with financial institutions on a daily basis. Mortgage brokers are trained to find the best mortgage product for you at the best available mortgage rate.

Mortgage brokers are licensed, qualified professionals and their services are absolutely free. They work independently from lending companies so their advice is unbiased and objective. Mortgage brokers bring borrowers and lenders together by providing their vast services, which include research and mortgage rate shopping free of charge to the client. Lenders pay the brokerage a fee when a client accepts that lender's mortgage offer.

Finding the best mortgage product for you from major lending institutions is easy with the help of your mortgage broker. Your mortgage broker can provide competitive rates from the lenders and even offer discounts of 0.6% to 2.05% off of what your bank can offer. Our Canadian mortgage services include:

1. Helping the first time homebuyer

First time home buyers often have questions about mortgage terminology, applications and the home-buying process. Make your home-buying experience easy and stress free by using a mortgage broker who can help walk you through each step. A mortgage broker works for you and can get positive results from lenders very quickly. They can save you time and money because they know where to find the best mortgage rates in Canada.

2. Getting existing homeowners the best renewal rate

If you automatically sign your mortgage renewal and return it to your lender, you ARE NOT getting the best deal. You will end up paying a higher rate and most likely won't receive a mortgage product that suits your needs. Mortgage brokers can get you the best rate possible and transfer your mortgage to a new lender at no cost. Lenders offer a wide variety of benefits and mortgage options. A mortgage broker can help you take advantage of lower payments, borrow additional money against your equity, and find a better rate.

3. Assisting with debt consolidation

A benefit of refinancing your mortgage is that you can take this opportunity to consolidate any high interest loans and credit card debts. It makes sense at today's great rates to pull equity out of your home to help save as much as 17% a month in interest charges. With debt consolidation, you can spread out your payments and pay lower interest rates. A mortgage broker can guide you through the process of becoming debt free.

4. Financing for home improvements, investments, travel and education

When there is equity available and you have a need for money, it can sometimes make sense to use the money in your home. Countless people borrow against the equity in their home to travel around the world. Many clients, rather than sell their home, will decide to refinance and use the money to renovate or improve their current home. Other people will find a great investment opportunity and decide to use their equity rather than their savings. Some will borrow to upgrade their education or send their kids off to university. Whatever the reason for your loan, it is possible to finance for almost anything.

5. Opening large secure lines of credit

Lines of Credit are very popular in Canada because they provide quick and easy access to the equity in your home. Once a line of credit is setup, you can get to it day or night through online banking or even an ATM machine. Many people use it for renovations, investments or whatever else they need. There are no restrictions on what you can do with the line of credit. The best part of the large secured line of credit is that you can pay it back at any time, without penalty. You can then access it again anytime and start using it like before. As long as you own your home, you will always have access to the secured line of credit.

6. Helping business owners get a mortgage

Being self employed has many advantages. One major disadvantage though is the fact that proving income becomes difficult when you start dealing with writeoffs and tax breaks. Business owners don't always have the luxury of making lots of money, paying little tax AND being able to prove to a lender how much they really earn. Mortgages for self employed people though are now readily available. Only a qualified professional can find the best options and mortgages for business owners. Rates are competitive and the options are very good. Mortgage brokers have dozens of lending products to suit the business owner directly. The self employed person shouldn't have to sacrifice like they used to. Being self employed can have many benefits and now, getting a mortgage is that much easier.

Alberta Equity has helped over 50,000 people find and qualify for the best mortgages in Canada for over ten years. We do all of the heavy lifting and ensure that you get the best mortgage rates and product features available. Apply online for a free, no obligation consultation or alternatively, view our products and services.