5 Reasons Why You Should Use a Brokerage to Arrange Your Mortgage

Mortgage Brokers are the new Messiahs, in proverbial sense, for the ones who are trying to arrange a mortgage. Owning a house is everyone’s dream and with the downturn in the market, the time seems to be just right!

There are two approaches one can adopt:

• Choose to deal with the banks directly.
• Use a mortgage broker to arrange the brokerage.

Most of the people or applicants, who have a sound knowledge of the financial market and mortgage process, choose the first option. However, a majority of the population uses a mortgage broker for this. While there are many people who would advise you against using a mortgage broker in Toronto; it indeed is the right way to go about it.

Here are 5 reasons why you should use a mortgage broker to arrange your brokerage:

1. Expert and sound advice: The expertise and the advice of a subject matter expert is always an added advantage in everything especially when it comes to mortgage and financial products. They draw an inference off of each application and provide the best possible advice.
2. Quick and accurate analysis: Financial decisions are always the toughest decisions of life and which also prolongs major decisions. Subject matter expert can give a quick and accurate analysis of your case, and offer expert suggestions, which helps in the success of the application. This will reduce the time that you might spend thinking and also help you take a better and safe decision.
3. Near instant approval: A mortgage broker has access to multiple lenders, private lenders and financial institutions. In certain cases, they may be able to get a mortgage approved in as less as 24 hours! Also, they are skilled negotiators and can get you a good deal.
4. Seamless processes: The end to end support from them means less or no worries for you. This helps in the realization of your dream of owning a home and prevents this from turning into a nightmare. Instead of creating problems for yourself by not taking professional help, go ahead and choose the right one for you.
5. Transparent deals – No surprises in future: A skilled mortgage broker helps you in getting complete, clear and correct information related to the mortgage. This prevents any rude shocks or surprises one may get in future, if due care is not given to understand all the conditions of the mortgage.

That said, the ideal approach is to opt for a well established, credible and reliable mortgage broker, if you want to see the mortgage through. With over 10,000 mortgage brokers in Toronto, most of whom are part timers, with mortgage brokering a second job; the possibility of choosing the wrong brokerage is real.

Manny Johar, for instance, is among the most respected mortgage professionals in Ontario. His clients admire his customized approach to each application, access to numerous institutional and private lenders, availability round the clock and transparent dealing.