Can a Mortgage Agent Save Me Money?

With the cost of living seeming going up just about every year, many Canadians look for deals and savings wherever they can find them. If you are a home owner, or currently shopping for a home, one of the places that you should be looking for savings is on your mortgage payments.

And the best way to find these savings is to work with a mortgage agent.

There are a number of ways that working with a mortgage agent can help to save you money. For example, if you are shopping for a mortgage, making one call to a mortgage agent is the equivalent of making 50 calls to 50 different lenders. Mortgage agents work with all the major lenders including banks and credit unions but they also work with lenders who specialize in helping people who are in unique situations such as being self-employed or having a low credit score.

Mortgage agents can shop around to help you get the best rate on your mortgage – in fact, some mortgage lenders will only work through a mortgage agent. In other words, working with a mortgage agent means that you will have access to lenders you otherwise wouldn’t.

And interest rates are not the only thing that a mortgage agent can help save you money on either. When buying a home, there are a number of other costs such as appraisal fees, application fees and so forth. Because mortgage agents work hard to establish good relationships with lenders, they are often able to get discounts on these fees which can result in thousands of dollars in savings for you.

And finally, here is one more way in which a mortgage agent can save you money.

Mortgage agents can advise you to steer clear of certain lenders. Sadly, not every mortgage agent out there is reputable and ethical. Some of them have reputations for putting hidden terms into their mortgage contracts which can make it very costly for you should you ever need to break your mortgage. A good mortgage agent knows who these lenders are and will advise you to avoid them.

Whether you are looking for a first mortgage or any other mortgage product, working with a qualified mortgage agent is the best way to get the best deal and save money.

If you need helping getting a mortgage, give us the chance to save you money. Contact 1ONEFUND Financial today.