Ten great reasons to use a mortgage broker

For many Canadians, mortgage payments are their single biggest expense. Yet most don’t comparison shop to ensure they’re getting the best mortgage rate and terms available, which can cost tens of thousands of dollars over their mortgage years. Don’t make the same mistake! Here are 10 reasons why you need a mortgage broker working for you:

1. Choice.  A wide range of lenders, including major banks, credit unions, and other national, regional and private lenders will instantly become accessible to you, ensuring that your specific needs are matched to the right mortgage.
2. Great rates. Get money in your pocket by taking advantage of Mortgage Intelligence’s clout with lenders. Our stellar reputation and longstanding experience allows us to negotiate great rates and access limited time specials.
3. A focused expert.  A mortgage is a very significant financial event. That’s why you want someone who is highly specialized in the mortgage marketplace and focused solely on your needs. You’ll get advice that will make a significant difference in your financial life.
4. Independence & objectivity.  We work for you, not the lender.
5. Solutions when you need them.  We can provide funding for bank turndowns, the self-employed, past credit problems, etc. There are mortgages for almost any situation and we know them all.
6. Save time. Everything relating to your mortgage can be managed around your busy schedule.
7. Service, service, service. We will be with you every step of the way, to answer all your questions, outline your best options, and efficiently guide you through the process.
8. Ongoing support.  My services don’t stop after the mortgage closes. We will stay with you for the life of your mortgage with advice and opportunities.
9. No cost (oac). The winning lender pays compensation for the services and solution provided, which means no fees for you in the vast majority of cases.
10. Your satisfaction.  Our goal is to ensure that you are so completely satisfied with your mortgage experience that you will be happy to refer us to your friends, family and colleagues.

If you are looking to purchase, refinance or coming up for renewal, the experts at MiMortgage.ca can help. We will assess your circumstances and advise mortgage financing options available to you. Call us at 1.866.452.1100 to speak to expert now.

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Ten great reasons to use a mortgage broker

For many Canadians, mortgage payments are their single biggest expense. Yet most don’t comparison shop to ensure they’re getting the best mortgage rate and terms available, which can cost tens of thousands of dollars over their mortgage years. Don’t make the same mistake! Here are 10 reasons why you need a mortgage broker working for you:

1. Choice.  A wide range of lenders, including major banks, credit unions, and other national, regional and private lenders will instantly become accessible to you, ensuring that your specific needs are matched to the right mortgage.
2. Great rates. Get money in your pocket by taking advantage of Mortgage Intelligence’s clout with lenders. Our stellar reputation and longstanding experience allows us to negotiate great rates and access limited time specials.
3. A focused expert.  A mortgage is a very significant financial event. That’s why you want someone who is highly specialized in the mortgage marketplace and focused solely on your needs. You’ll get advice that will make a significant difference in your financial life.
4. Independence & objectivity.  We work for you, not the lender.
5. Solutions when you need them.  We can provide funding for bank turndowns, the self-employed, past credit problems, etc. There are mortgages for almost any situation and we know them all.
6. Save time. Everything relating to your mortgage can be managed around your busy schedule.
7. Service, service, service. We’ll be with you every step of the way, to answer all your questions, outline your best options, and efficiently guide you through the process.
8. Ongoing support.  Our services don’t stop after the mortgage closes. We will stay in touch with you for the life of your mortgage with advice and opportunities.
9. No cost (oac). The winning lender pays compensation for the services and solution provided, which means no fees for you in the vast majority of cases.
10. Your satisfaction.  Our goal is to ensure that you are so completely satisfied with your mortgage experience that you will be happy to refer us to your friends, family and colleagues.

With all changes that have taken place in the last twelve months, and the anticipated changes that are due to be announced soon, a mortgage broker’s role has never been more important. To find out more about how the new rules might effect you, contact the team at MiMortgage.ca at 1 866 452-1100 to speak to an expert now.

 

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Ten great reasons to use a mortgage broker

For many Canadians, mortgage payments are their single biggest expense. Yet most don’t shop around and compare to ensure they are getting the best mortgage rate and terms available in their circumstances, which can cost them tens of thousands of dollars over the term of their mortgage. So don’t make that same mistake! Here are 10 reasons why you need a mortgage broker working for you:

1. Choice.  We work with a wide range of lenders, including major banks, credit unions, and other national, regional and private lenders will instantly become accessible to you, ensuring that your specific needs are matched to the right mortgage.
2. Great rates. Get money in your pocket by taking advantage of Mortgage Intelligence’s clout with lenders. Our stellar reputation and longstanding experience allows us to negotiate great rates and access limited time specials.
3. A focused expert.  A mortgage is a very significant financial event. That’s why you want someone who is highly specialized in mortgages and focused solely on your needs. You will get advice that will make a significant difference in your financial life.
4. Independence & objectivity.  We work for you, not the lender.
5. Solutions when you need them.  We can assist with funding for bank turndowns, the self-employed, past credit problems, etc. There are mortgages for almost any situation and we know them all.
6. Save time. Everything relating to your mortgage can be managed around your busy schedule.
7. Service, service, service. We will be with you every step of the way, to answer all your questions, outline your best options, and efficiently guide you through the process.
8. Ongoing support.  Our services don’t stop after the mortgage closes. We will stay in touch with you for the term of your mortgage with advice and opportunities.
9. No cost (oac). The winning lender pays compensation for the services and solution provided, which means no fees for you in the vast majority of cases.
10. Your satisfaction.  Our goal is to ensure that you are so completely satisfied with your mortgage experience that you will be happy to refer us to your family, friends and colleagues.

Thinking of homeownership, renewals or refinancing? It’s worth having that conversation with the team at MiMortgage.ca to find out your options.

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Homebuying For Beginners

 A Ten Point Plan For Smart Homebuying

Contact the mimortgage.ca team today, for advice on down payment options for a home, best possible rates or for assistance with planning your finances. To get pre-approved today, apply now through our secure online website or speak to one of our agents at (866) 452-1100.

Your Best Option Is Using a Mortgage Broker.

Mortgage Brokers Gain More Ground!

But don’t take our word for it! On the Go Magazine published an article expelling the reasons that wise consumers use Mortgage Brokers. Four advantages are:

1. Choice of many lenders rather than just one Bank
2. Advice of experienced brokers that can offer alternatives and complimentary financial options
3. Service when you need it. Most Mortgage Brokers are more flexible to meet with you than a Bank
4. Savings through their wide choice of lenders and directing you to the best mortgage to meet your financial goals.

Visit On the Go Magazine to read the entire article.

If you have used the services of a Mortgage Broker, tell us why you did?

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Apply Now.

It’s So Easy!

Tighter Lending Rules Self-Employed are Targeted.

CMHC to introduce more changes to Self Employed Lending.

Over the past 5 years we have seen options for zero down mortgage, no income qualified, options, 40 year Amortizations disappear from the lending landscape. And its about to happen again as even stricter rules come into play at the en of May 2014.

With this in mind, we want to share a valuable video with you. Food for thought if you will. Don’t be let down if you need a mortgage! Watch our video and contact us using the handy form below. We can help!

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Self-Employed Will Suffer!

Expect Further Tightening of Guidelines For The Self-Employed.

Self Employed lending has always created a balancing act for the borrower. While trying to save on income taxes, deductions that decrease taxable income can now stand in the way of a mortgage approval.Our industry expects to see further tightening in this area in the months to come.

It is expected that all three Insurers in Canada, CMHC, Genworth and Canada Guaranty  will further restrict the lending capacity of lenders such as credit unions and specialty lenders. This may force more Self-employed individuals to seek out other options.

What can you do if you are Self-Employed?

Mortgage Brokers have always provided borrowers with the widest number of lenders and the lowest rates.  Here at Mortgage Intelligence we have relationships with over 50 National and Private sources for mortgages. We can be your best asset when you require a mortgage.

Experience counts as well. For over 14 years our office has been a primary source of approvals for those that are Self-Employed. Why not make the choice and let us help.

This is a good time for you to get some advice if there is a possibility that you will need a mortgage in the foreseeable future.  You may be able to take advantage of the current situation before things change again.  Contact us by using the form below or Apply online now.

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Welcome to MiMortgage

Best Rate vs. Lowest Rate

The Difference May Cost You A Lot!

The best rate for any given borrower may not at first glance be the lowest rates. A prime example of that is BMO’s rate special of 2.99% last year. The web was filled with promos for the special but no one was pointing out all the restrictions that the mortgage held.

Mortgage professional offer options form many lenders and a good mortgage agent will have sound knowledge to back up their advice. Some will criticize the old axiom, the lowest rate is not always the best rate” but it is often true.

There are many Rate sites on the web but remember that they really don’t offer any advice. They show only those rates that a company want to use to get you to contact them.

When shopping for a mortgage you’ll want to know what the rate is, what the prepayment privileges allow, and is there a sale clause in the mortgage. What that means is, do you have to sell the house in order to make changes the mortgage?

 It’s so important because technically it removes you ability to refinance you mortgage during the term. Something that lenders never talk about when offering the rock bottom rate.

The best advice you can get is telling your mortgage professional what you hope to do achieve during the term of your mortgage. Sure you want the best rate but do you want to prepay the mortgage, or is it your goal to increase the payments each year? By how much? How will the penalty be charged should you sell or refinance. There’s a huge difference between a 3 month interest penalty and Interest rate Differential, but you my also want to ask, “is the penalty calculated on the posted or the discounted rate”? Once again the end cost could far outweigh any savings on rate.

Be a wise consumer. Shop where there is maximum choice and look to a mortgage expert for advice on your personal situation. Mortgages unlike clothing are not One Size Fits All!

See all our great rates: https://mimortgage.wordpress.com/rates/

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You’re Fired!

Laurentian Bank Makes Major Shift.

Recently Laurentian Bank announced that they will no longer be providing mortgages through their in-house sales force in Quebec, (is this a sign of things to come for the rest of the provinces)?

That’s great news for Mortgage Brokers and it’s even better news for their clients.

Mortgage Brokers are registered through FSCO ( the Financial Services Commission of Ontario) and have to pass stricter testing to obtain a Mortgage Agent license than do Bank Sales Reps.

Mortgage agents offer the products of many lenders while the Bank Reps only have one option and that’s the offerings of the bank they are employed with.

If you think that’s it’s better to have more options when looking for financing and having a mortgage agent with stronger licensing requirements working for you please leave a comment below. If you believe there’s not benefit, we’d like to hear your take on the question too please.

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