Learn About Mortgage Brokers


What is a Mortgage Broker?

Independent, trained professional

licensed to represent and provide you with the best advice for your mortgage needs are Mortgage Brokers.

Mortgage Brokers excel at locating funding for mortgage financing. They possess knowledge of where to find the best rates and can skillfully present a proposal for financing to lenders, ensuring successful mortgage financing acquisition.

Why deal with a Mortgage Broker?

Mortgage Brokers represent you, the customer, not the lender.

Because they are not employees of a lending institution, Brokers are not limited in the product they can offer you. Brokers actively seek out the best lender package to suit your specific situation, whether it’s with a Chartered Bank, Trust or Insurance Company, or Private Funds.

Today’s homebuyers have access to a wide assortment of options and features. Shopping around requires a significant amount of time and effort. The mortgage process within today’s highly competitive marketplace intimidates many Canadian homebuyers. It pays to collaborate with a mortgage professional who will represent you and ensure that the mortgage you secure is the one best suited to your needs.

Choosing the wrong mortgage can result in thousands of extra dollars in costs. Trained professionals, Mortgage Brokers can help you save on your mortgage dollar.

Other than rates, why should I use a Mortgage Broker?

In addition to rates

the broker’s primary business being mortgage-based financing, he or she has developed expertise in discerning the type of mortgage financing each lender prefers to pursue. This knowledge not only leads to the most favorable rates for each project but also influences whether a project is funded at all.

How do Mortgage Brokers Find Superior Rates?

About Superior Rates

Interest rates concern borrowers, and brokers, due to their daily interactions with lenders, are knowledgeable about which project or home attracts a favorable interest rate from one institution but a higher rate at another. Some institutions only accept mortgage submissions from mortgage brokers.

These rates and preferences for types of mortgages can change daily, depending on economic circumstances or the size of an institution’s portfolio in a particular type of mortgage. Your Mortgage Broker stays current and knows which lender to approach first. Consequently, mortgage rates obtained by Brokers are among the best available at the time of placement.

Why should I go to a Mortgage Broker first?

A well-crafted presentation

A well-crafted presentation to a lender during the initial application elicits the most favorable response, preserving your valuable time and money. Additional applications with previous credit bureau inquiries may result in higher costs.

Achieving mortgage approval success often depends on the presentation method and the recipient. Your Mortgage Broker is adept at presenting your mortgage proposal strategically for the most immediate and positive results.

Much like you wouldn’t contact an insurance company directly for insurance but rather rely on an insurance broker for their expertise, product knowledge, and competitive rates, similarly, prioritize reaching out to your mortgage broker first!

Do Brokers only do Residential Mortgage?

Brokers have the capability to secure various types of loans

Brokers have the capability to secure various types of loans provided they are supported by mortgage collateral. Loans of all sizes, ranging from small residential property-backed loans to commercial properties worth millions of dollars, are readily accessible. It’s not uncommon to find mortgage-backed loans in the millions, especially with private pension funds and private lenders.

Beyond managing traditional mortgages, mortgage brokers are frequently tasked with arranging financing for businesses based on mortgage collateral. They excel in crafting such financing packages due to their expertise in evaluating loans from a mortgaging perspective and their understanding of the interests and preferences of financial institutions for a specific product at particular times.

How do Brokers get better deals than many Banks?

Mortgage brokers collaborate with a range of lenders

encompassing conventional sources like chartered banks, trust companies, corporate, and private pension funds.

In addition to these traditional sources, brokers cultivate professional relationships with private fund sources, known as private lenders. These lenders offer a diverse array of mortgage products that may not be accessible through conventional channels.

For optimal outcomes, make your first call to your broker.

Can I still go through my bank with my Broker?


Having a Mortgage Broker represent you to your own financial institution can frequently lead to a more favorable rate than what you could secure independently.

Get a mortgage despite having Poor Credit. Whatever your needs are, Capital Mortgages is here to get you approved. Call or email us today and let’s get started on that mortgage application.