The mortgage broker acts as an intermediary between an individual wanting a mortgage and a financial institution.
Its role is to negotiate a loan from several financial institutions.
Their role is not to lend money to itself but to advise on the best product and the best financial institution for your profile.
Multi-Prets, our brokers have access to the products of twenty financial institutions. Our mortgage advisors are experts on the lookout for trends, trained to identify your real needs and respond quickly. Any loss of time or surprises because our brokers receive exclusive promotions granted by our partner financial institutions through a centralized computer system and have tools to help decision making.
In addition to knowing all mortgage products, our agents also know the different niches in which financial institutions specialize in, and give you access to virtual lenders that you could go by yourself. They also offer all mortgage solutions, you want to get a pre approval, make the purchase of a property, refinance your mortgage to make your renewal or you want more information about reverse mortgages or even the investment property in Florida.
Once your needs are identified, the broker will ask for the documents and information needed to evaluate your application (assets, liabilities, income, job stability, etc..), And can tell you what you can expect. For example, it will evaluate the maximum mortgage that you could be getting the amount you would spend on your mortgage payments and other financial obligations, and that you would have to pay as a down funds.
Thereafter, the mortgage broker will prepare and present your case to the financial institution chosen, which will save you steps. Due to the number of customers towards Multi-loans financial institutions, we have an excellent bargaining power. We can usually get a substantial discount compared to mortgage rates displayed in store.
In addition, as we are constantly different financial institutions competing, mortgage brokers help keep mortgage rates low in the long term.
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* Residential Mortgage standard