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Why do people come to a Mortgage Broker?
- Personalized service; we work for you not an institution
- Competitive rates, terms and conditions; we are not bound
by the products & policies of one institution
- Increased flexibility; we understand that life can throw you off
track and we work to get you back on track without
judgement
- Our team are certified in Financial Services Underwriting
- We are governed by the Financial Services Commission of
Ontario Mortgage Brokers Act and Regulations
Do mortgage brokers only use private lenders?
- On the contrary, most of our mortgages are placed with
major financial institutions. It is only when the
individuals personal situation is such that a financial
institution is unable to meet their needs, that we
consider a private lender.
My bank told me brokers have hidden fees. Is that the truth?
- FSCO, the Financial Services Commission of Ontario, require by
law that all mortgage brokers declare all fees and charges
associated to the mortgage to the borrower. Penalties for not
abiding by the mortgage broker Act and Regulations can result in
fines and even jail time.
Can a lender require mortgage insurance even for a
conventional mortgage?
conventional mortgage?
- Yes, a lender can insist on mortgage insurance if they
feel their is suitable risk to their investment.
CONNECT2MORTGAGES INC.