The Bank vs. The Broker

The Bank vs. The Broker

The broker works for you. The bank doesn’t.

This is critical to consider when making the important decision of who to work with in your mortgage approval – and better yet, education – process. The unique value of a professional mortgage broker comes from having someone who works directly for you and has access to dozens (if not more!) of mortgage products. In almost every case, mortgage brokers are not paid by you, but rather by the lender who provides your mortgage.

Mortgage Broker Benefits

Working with a mortgage broker allows you to examine multiple products for a variety of considerations:

• most importantly: long term planning
• interest rate
• mortgage options
• payment privileges
• payment penalties
• guaranteed interest rate holds for 120 days
• long term savings
• and more…

Additional Benefits

In addition to the benefits listed above there is incredible added value when working with a mortgage broker. You may have greater access to the broker dealing with your file – with no need to keep typical banking hours. You get your own ‘coach and personal cheerleader’ – striving to find the best products for your unique situation. You will have an on-going relationship with a broker that learns about your family’s criteria, needs and future aspirations – allowing for potentially years of personalized service!

Unique Services Eitan Can Provide

One of the main benefits of using a Mortgage Broker is that they have access to, and knowledge of, the entire mortgage market. A bank can only advise on their one product. They can advise which lenders will consider your case based on your individual circumstances. This is particularly useful for people with poor credit ratings, low down payment, multiple rental properties, and generally complex scenarios. Mortgage brokers have access to lenders who specialize in servicing people who need creative financing advice, and can also leverage relationships with mainstream banks.

Notwithstanding, a Mortgage Broker is an individual who only touches mortgages. They are uniquely positioned to provide the best advice to First Time Home Buyers.

Mortgage brokers can also access exclusive deals not available on the open market, or negotiate a better interest rate or lower application fees from the lender in some cases.

Eitan’s Personal Style

I enjoy providing a level of service that goes above beyond and in some ways, mimics what a personal financial planner would do for you. Most importantly, I provide a service that my partners and clients have come to respect and refer out. My systems-based approach ensures you get the best advice and service, from the first meeting, all the way until your mortgage reviews.

• I always meet my clients face to face to better answer their questions in a non-rushed environment
• I am easily available whether you would like to meet in person, on the phone or via email
• I provide you with 3 different mortgage bids, each being a different product and generally from different mortgage lenders
• I am lucky enough to get numerous testimonials that speaks to my service

I’m looking forward to helping you with your home financing needs!