Why Use A Mortgage Broker
A Clover Mortgage Broker Works For YOU, Not The Banks. So When The Banks Say "No" We Say "YES"!
Canadian Mortgage Brokers work independently from the banks to provide you with the best advice and guidance for your mortgage needs. At Clover Mortgage, our mortgage brokers and agents are trained professionals and experts in their field. Our brokers are mandated to put your best interests first. Our brokers and mortgage agents have access to rates from over 40 different lenders, including the major banks. An experienced mortgage broker will know where to find the best mortgage rates and will know which lender will approve you at the lowest possible interest rate based on your specific financial situation.
A Clover Mortgage Broker Fights To Get You The Best Mortgage Rates And Terms Possible!
Brokers and agents have a wide variety of mortgage and refinancing options that they can offer you and are not limited to working with any one specific lender. The right broker will shop around several different lenders to find the right mortgage solution that best fits your specific needs and financial situation.
One key advantage to working with a mortgage broker is that we do all of the hard work and rate shopping for you. At Clover Mortgage we work with all sorts of different lenders, each one specializing in different areas. Your deal can be presented to different chartered banks, trust or insurance companies, monoline lenders, credit unions, and even private mortgage lenders in order to find the right lender who will get you approved for the best possible mortgage rate available to you.
With the wide assortment of different mortgage and home refinancing options available to homebuyers, home owners, and commercial property owners, shopping around for the best mortgage rates and terms can take a lot of time and cause you a lot of unnecessary stress. By enlisting the help of a great mortgage broker or agent, they will do all of the hard work for you and come back to you with the best possible mortgage solution for your needs.
If you don’t work with a broker, you run the risk of ending up with the wrong mortgage which can cost you thousands or even tens of thousands of dollars. Working with the right mortgage broker who will give you proper guidance and support can help you save a lot of money on your mortgage payments and overall interest.
Top 12 Reasons You Should Use A Mortgage Broker
- Mortgage brokers work for YOU, not the bank!
- Access to a wide variety of lenders including chartered banks, trust companies, monoline lenders, credit unions, private investors, and other financial institutions that you may not know about
- Many financial institutions will only give a mortgage to you through a broker and will not deal with a borrower directly
- Quick, easy and free no-obligation mortgage pre-approvals
- Access to mortgage rates at wholesale, that in many cases are better than the rates you would get at the bank!
- Pre-approval rates can be guaranteed for up to 120 days with many lenders
- Even if you have bad credit, a mortgage broker can help find a great lender who will approve you even when the banks won’t
- Mortgage brokers specialize in mortgages and property financing, nothing else. We are up to date on all of the latest rates, terms, prepayment options, and current trends
- They save you time, money, and stress!
- Brokers are trained professionals who are only responsible to you, the mortgage customer. Our main goal is to ensure that you are happy with the entire process and the mortgage that you get.
- Everybody wins! Customer service is our number 1 goal, and our business depends heavily on your referrals and repeat business. So if you’re happy, we’re happy!
- Ongoing support and guidance. Our job doesn’t end when you get your mortgage. As a trusted professional your mortgage broker is here to help you with any of your mortgage and property financing needs or questions even months and years after you get your mortgage with them.
How Else Can A Mortgage Broker Help Me?
Unlike the banks, arranging mortgages and home loans is a broker’s main focus. As mortgage brokers and mortgage agents it is our job to know exactly what types of mortgage financing each lender specializes in. As a result you as a borrower will not only get the lowest rate, but you will also have the highest chance of being approved for the right mortgage that suits your needs when going through an experience professional mortgage broker.
With a bank you can spend weeks going back and forth regarding paperwork and documents to the point where you feel like you are almost begging the bank to approve you for a mortgage. At the end of all of that hassle, stress, and wasted time the banks might still change their minds at the last minute and not fund your mortgage even after all the work and effort they made you go through.
At Clover, our mortgage brokers are experts in knowing which lenders will fund which kinds of mortgage deals. We know exactly what documents and information the lenders will need before we even start your application. This will save you a lot of time, reduce the stress involved with getting a mortgage, and make the entire process smoother and simpler. Your broker will work tirelessly to ensure that you are positioned to have the highest chances of getting approved with the right lender at the best mortgage rate possible based on your financial situation and needs.
Mortgage Affordability Calculator
How Do Mortgage Brokers Have Access To The Best Mortgage Rates?
The interest rate you get for your mortgage is a very important factor. It directly contributes to how affordable your monthly mortgage payments will be and will also be a key determining factor as to whether or not you can qualify and get approved for the mortgage that you need.
Brokers specialize in understanding exactly what types of properties and borrowers will get a lower interest rates from which lenders, and will avoid applying to a lender who might consider your property or your financial situation less ideal based on their lending criteria.
With access to so many different lenders, a mortgage broker has access to rates that the banks can’t even give you. In fact, many financial institutions that offer some of these amazing low rates do not deal with the public directly. Many lenders are only accessible to you through a broker.
Why Should I Speak With A Clover Mortgage Broker First?
Did you know that each time a lender pulls your credit report from the credit bureau it negatively impacts your credit score with each request? Most people don’t know that. One of the reasons that you should go to a broker first is that they will only need to pull your credit report once and can use that same report to shop your deal around to many different lenders. This will save you valuable points on your credit score.
Another great reason is that a lender will make their decision to approve or deny a borrower’s application based on a number of factors. One of the key factors is how the borrower’s situation is presented to a lender. This can make or break a deal and can make the difference between getting approved at a low rate, high rate, or not getting approved at all. The mortgage brokers and agents at Clover are trained to know how to present your mortgage application and to whom.
We have built strong relationships with dedicated underwriters at many of the lenders who will work extra hard to help us get your deal approved. We are not just a number to them and neither are you. The same can not always be said about the banks.
I’m Still Not Convinced. What Are Some Other Reasons I Should Use A Mortgage Broker?
Yes! Here are even more reasons why you should always go to a mortgage broker first when looking to get approved for a new mortgage, to renew your current mortgage, or to refinance a property that you already own.
Get Objective, Independent Advice On Your Mortgage And Financial Options.
Since mortgage brokers are not obligated or limited to working with any one lender, we have a wide range of mortgage solutions. Our job is to find the one that’s right for you. At Clover Mortgage, our brokers will give you honest and objective advice instead of trying to sell you a specific product, with is what often happens at the banks. There are even mortgage specialists from the banks who turn to Clover for their personal mortgage needs.
Save Time, Reduce Stress, And Get APPROVED!
A reliable mortgage broker will do all of the research for you and will shop around for the best deal from a variety of different lenders that they have access to. You will also avoid hurting your credit score by not having your credit report pulled by multiple lenders. Your broker will pull your credit report only once and use that same report with several different lenders until they find the right one who will approve you and offer you the most competitive interest rate and repayment options.
Your Clover Mortgage Broker Will Do All Of The Negotiating For You
As mortgage brokers and agents our missions is to fight to get you, our valued customer, the best possible mortgage rate from the lenders. That is why we negotiate with the lenders on your behalf and find the lender who is willing to approve you at the lowest possible rate. Our job is to know the lenders inside and out in order to be able to work the best deal for your specific situation.
Choices, Choices, And More Choices
With access to over 40 different mortgage lenders, ranging from chartered banks, credit unions, trust companies, monoline lenders, individual investors, and other financial institution, a mortgage broker at Clover can provide you with the best options to choose from for your mortgage. When you work with Clover, you no longer have to beg the lender to give you a loan. Instead we have lenders actively looking to give mortgage loans to borrowers like you. This competition between lenders allows us to get you the very best mortgage solution that is available to you.
Exclusive Access To Deals, Value Add-Ons, And Volume Discounts
Clover Mortgage Brokers have access to different financial institutions that you might not be aware of. These institutions offer special rate, terms, value add-on, and even volume discounts exclusively to brokers who then can pass on these savings to you, the customer. Even some of the major banks will offer additional discounted rates to brokers that you as a bank customer might not be aware of.
Fast, Easy, And Efficient
Because a mortgage brokers focuses on understanding the different criteria and preferences of each lender that they work with, they are able to work quickly and efficiently to help get you approved with the right lender. From the very first phone call or meeting, your broker will work to make the process and quick and easy for you as possible all the way through the closing process. Even after your deal closes, your mortgage broker will be there to help you along the way.
Unparalleled Expertise At Your Fingertips
Mortgage brokers are trained professionals specializing in providing expert, objective advice and guidance on a variety of important subjects such as mortgage products, interest rates, financial planning, rebuilding your credit, reducing your debts, the current real estate market conditions, and building your wealth. Your mortgage broker can become a valuable resource to you and a lifelong friend.
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