Using a Mortgage Broker to Secure Private Financing

July 12, 2022

Key points:

  • Mortgage brokers are regulated by the Financial Services Regulatory Authority of Ontario, which ensures the client comes first in all transactions.
  • Brokers work to keep private lending fees low for the client to avoid adding onto client debt.

Using a mortgage broker to secure private financing

This video discusses the importance of using a mortgage broker when looking to secure private mortgage financing. We talk about how brokers are regulated, and how we go about finding the best private mortgage product for you.

You can also review the complete private mortgage guide for more detailed information!

Don’t feel like watching? Find the full transcript below!

Chris: [00:00:00] In this video, we’re going to cover exactly why you need a good mortgage broker to shop and find you a suitable private mortgage or home equity loan. Let’s go.

A broker’s obligation to the client

Chris: [00:00:23] In Ontario, mortgage brokers are regulated by FSRA or the Financial Services Regulatory Authority of Ontario. That’s a mouthful. Our regulator requires that licensed mortgage brokers and agents maintain certain levels of integrity, of ethics, when we deal with you, the borrower. That means that we have to put you first and foremost and your financial well-being at the head of all decisions, in all recommendations that we make as mortgage brokers. That includes making sure that whatever private mortgage we recommend to you is suitable and will allow you to move forward with your financial life and give you the freedom that you’re looking for, and not indebt you further and put you further under pressure. So that means that in this role as mortgage broker, when guiding you, we have to make sure that we are finding you the best private mortgage. And that can be hard to find because lenders tend to charge high fees, high interest rates. And so there’s an extra added pressure on us to find the most suitable mortgage for you to make sure that those fees and rates are kept low. I have been a licensed mortgage broker for the past 15 years working in Ontario, and over that time period I’ve worked with countless borrowers, helping them secure the optimal private mortgage or home equity loan to help them move forward. We always put the exit, the end, the end goal as the focus of any guidance that we give. We always start with the end because it’s very easy to put you into debt. It’s much harder to get you out of debt. And we treat that with the utmost respect.

Chris: [00:02:11] My name is Chris Molder. I am a Toronto mortgage broker. If you are shopping for a private mortgage, then I invite you to reach out with complete confidence. My contact information will follow below. Until next time. Bye for now.

Need more help or information?

I encourage you to check out the complete private mortgage guide on my website, where I cover all aspects of this type of mortgage financing. 

I can help you determine if private mortgage financing is right for you. I’m just a phone call or email away. You can book a call directly into my calendar below, or get in touch with me here.