10 Reasons to Use a Toronto Mortgage Broker

November 15, 2009


Everyday consumers are confronted with the choice of whether to use their local bank or a mortgage broker for their financing needs. It isn’t always clear what the benefits of using a mortgage broker like myself are, so below I have summarized what in my opinion are the top 10 reasons to use a mortgage broker.
#1- Get Independent Advice On Your Financial Options. As an independent mortgage broker in Toronto, I am not tied to any one lender or range of products. My goal is to help you successfully finance your home or property. I’ll start by getting to know you and your homeownership goals. I’ll make a recommendation, drawing from available mortgage products that match your needs, and together we will decide on what’s right for you.
#2- No Cost To You. There is no charge for my service on a typical residential mortgage. So how do I get compensated? Like many other professional services, as a mortgage broker I am paid a finder’s fee when I introduce a creditworthy, dependable customer to a financial institution. These fees are quite standard and nearly industrywide so that the focus remains on you, the customer. There is no personal gain for me if you choose one lender over another.
#3- Save Time With One-Stop Shopping. It could take weeks for you to organize all the appointments necessary to get to know the products and options differentiating the competing lenders in the market – and I know you’d rather spend your time house hunting! I work directly with dozens of lenders, and can quickly narrow down a list of those that suit you best. Together we can review the shortlist to make mortgage shopping fast, easy and convenient.
#4- Get Expert Advice. When it comes to mortgages, rates and the housing market I’ll speak to you in your language. I can explain to you the various mortgage terms and conditions so you can confidently choose which mortgage suit you best. As a mortgage broker I have successfully completed all 14 educational requirements of the ministry of finance.
#5- A Long Lasting Professional Relationship. The successful completion of your mortgage transaction does not mean the end of my commitment to you. Just as you use a professional like a dentist, doctor, financial adviser for your on going personal well being, I am part of your team to ensure that you continuously get the mortgage support and advice you need.
#6- More Choice Mean More Competitive Rates. I have access to a network of major lenders in Canada, so the options I can present to you are extensive. In addition to the Big 5 banks you are already familiar with, I also know what’s being offered by Credit Unions, trust companies, and other non-traditional sources.
#7- Ensure That You’re Getting The Best Rates and Terms. Even if you’ve already been pre-approved for a mortgage by your bank or another financial institution, it doesn’t mean that you have to stop shopping! With so many lenders in the market let me explore what other options are available for you which may suit your needs.
#8- Get Access To Special Deals and Add-Ons. Financial institutions are always competing for your business, which is why they often offer incentive to attract creditworthy customers. These can include retail points programs, discounts on appliances, shopping club and more.
#9- Things Move Quickly. In mortgages, a lot of attention needs to paid to details. Every ‘t’ needs to crossed and ‘i’ dotted. My eyes have reviewed 100s of mortgage documents and I know where the pitfalls lie and what to look out for. I will make sure that your mortgage transaction takes place on time and to your satisfaction.
#10- We Negotiate On Your Behalf. People often get intimidated or bullied by their bank and don’t feel comfortable negotiating with them. As a mortgage broker I negotiate mortgages each and every day on behalf of my clients. You can count on my market knowledge to secure competitive rates and terms that benefit you.


Christopher Molder

Mortgage Broker

Christopher is a mortgage broker based in Toronto, Canada. And a son of a broker too. He’s a second generation mortgage broker. Following in his father’s steps he joined the family mortgage business straight out of university.