What’s the difference between a Broker vs a Banker?

 

Technically a mortgage is a mortgage but the difference of who you work with to secure it can mean saving thousands in the long run. As a mortgage broker, it’s my job to make sure that, that mortgage fits your needs now and five years down the road too.

 

Why wouldn’t you get a better deal from your bank on a mortgage?

 

Many home buyers pop in to their bank believing that their life-long relationship will in some way give them a leg up in the process. However, even though you’ve been working with the same bank for many years, when it comes to a mortgage they’ll offer you the same rates and options they would anyone else. Depending on your personal financial situation, and even which bank you deal with, there are only so many things they can offer you.

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I haven’t mentioned much in terms of options but most people don’t know the devil is in the details. There can be many hidden fees and charges if you need to make any changes to your mortgage down the line.

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What it will cost you for breaking your mortgage term has a direct relationship to how it will affect the lender more specifically, how much money they will make off of your mortgage in interest. That’s something the bank won’t be so excited to tell you about, but it’s one of the key options we look at in detail together before deciding on which mortgage solution is the best fit for you and your family.

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When you’re ready to make the leap to become a new homeowner, give me a call at 780-288-0643 and we’ll take a look at all of your options. Together we’ll find the best financial choice for you, to ensure you’ll be ready to snap up that dream home when you see it!