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Why do mortgage brokers sometimes have lower mortgage rates than others?

Created: 14 February 2011
Hits: 1979

Not all mortgage brokers are created equally when it comes to getting the lowest mortgage rates.

Surrey BC - Mortgage brokers are independent mortgage professionals who have access to many lenders and many mortgage products across Canada. This is not to be confused with Mortgage Specialists or Mortgage Bank reps that only have access to their own bank mortgages and cannot shop the entire mortgage market.

Mortgage brokers businesses vary depending on their size, volumes and company they are affiliated with. A mortgage broker for example that does very large volumes will have the access to the very lowest rate specials with lenders due to their high volumes and can pass those savings on to their clients. In addition, larger broker teams very often have special underwriters at the lenders that underwrite their mortgage business making the approval process much faster.

So, if you want to secure the very lowest mortgage rate possible, you should find an independent mortgage broker that does these large volumes. One way to find this individual or team is to search online for the top mortgage brokers in Canada. Another is to ask your Financial Planner, Tax Accountant, or Realtor whom they would recommend as they typically have close contact with mortgage brokers. Finally, you could do a search for a mortgage

Contact the independent mortgage team of Dreyer Group Mortgages for more information on how they can secure your best mortgage at the lowest mortgage rate. Call 1-800-687-9020