CanEquity Mortgage

CanEquity Mortgage is a company which works closely together with the major lenders in Canada not only in regards to finding the best overall products, but also in terms of developing new and innovative products for the consumer market. As a national company, they are able to offer the lowest mortgage rates on the market today, and one of their stated main objectives is to education the Canadian public about mortgage brokers, so that more people are able to find the lowest mortgage rates possible.

Established in December 2001, the CanEquity Mortgage Company started off small and is now one of the world’s largest mortgaging companies. Their national experienced mortgage brokers are well respected throughout the world and are more than willing and able to help you with any mortgaging questions or issues that you may have.

They are a company that is truly and earnestly committed to providing their customers with the best possible service and deals in the mortgage industry, and this combined with their longstanding and respected history, makes them one of the best mortgaging companies in the world.

The Mortgage Center

The Mortgage Center is a company which owns franchised offices across Canada, and which shop your mortgage application around to 25 of the leading Canadian banks, trust companies, and various other lending institutions. Their services cost you nothing at all because it is all paid for by the financial institutions with which they do business, and so you know that they are really and earnestly focusing their attention on and caring about you and your business.

These are definitely two of the best mortgaging companies in the world, and there are plenty more like them out there, however it takes time to find companies this deserving of your business. There are plenty of bad apples out there, and only by doing your homework are you going to be able to sift through the pile and steer clear of them. Just remember that all of the time and effort you put in beforehand is going to be more than worth it in the end of it all, and that is what really matters.

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Things to Ask For

Ask your broker for their fees ahead of meeting them. If your broker is willing to provide their fees upfront and in writing when you ask without any delay then you probably have an ethical broker. If your broker is reluctant to disclose their fees and refuses to put down their fees in writing than you should avoid this type of broker. When you pay mortgage brokers you are paying for two things, the wholesale loan price and the brokers fees.

If your broker is willing to tell you the wholesale loan price and their separate fee then you have a good idea of how the broker operates. If however the broker only offers you one price and does not disclose the wholesale loan price or their fee than you have likely been subjected to a large mark up in price. Any broker who does not break down the numbers for you is trying to make a big a profit as possible. They will not reveal their fees until after you have submitted an application, when it’s too late to do anything about it.

A good broker will lock the terms of the of the loan as soon as you ask him or her to do so. The broker will then give you a written confirmation that loan has been locked from the lender. There are some brokers who will tell you that the terms of your loan have been locked when in reality it hasn’t. This allows the broker to markup fees even more but puts you at the risk of losing your loan if rates escalate between the time your loan was supposedly locked and it is locked. Making sure that you have a good broker is important so that you can get the best mortgage rates. A good broker will always look out for the best rates for you, so keep these things in mind when looking for mortgage brokers.

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