Mortgage brokers in Ontario are licensed and regulated by the Financial Services of Ontario (FSCO). Membership in organizations such as the Canadian Institute of Mortgage Brokers and Lenders (CIMBL) also requires adherence to strict Code of Ethics by its members. Using a mortgage broker licensed by FSCO that is also a member of an organization such as CIMBL will ensure you will be dealing with a qualified professional with the highest level of integrity.
Using the services of a mortgage broker can save you both time and money. You don't have to shop around from institution to institution to get the best mortgage. We give you our best rate right in the beginning without any haggling. Better still, only one application has to be filled out. Since we deal with a number of lenders, we can get you the mortgage that suits your particular needs, so you are not tied to the products of one particular institution.
Using a mortgage broker is not only beneficial when you buy or refinance your home, but also when your mortgage comes due for renewal. Studies have shown that over 80% of customers simply renew their mortgage with their existing instituion at renewal time without shopping the market. Most times when you receive your renewal notice from your institution, they are offering you a renewal rate that is discounted very little if any at all. It therefore pays to shop the market at renewal time. We would be happy to discuss with your how to transfer your mortgage at renewal time at no cost.
You will also be happy to know that our services in most cases are free of charge to the consumer. We get compensated by the institution that funds your mortgage. We welcome you to contact us anytime to discuss your particular options!