Hi all,

I am in the verge of applying for a mortgage loan. Is it better to opt a broker or a bank?

Thanks for your time!

Hi Susan,

Mortgage brokers makes things easy for you. The paper work involved in getting a loan from a broker is almost half of what you need in the bank. I had twice taken mortgage both from the same mortgage broker in Alberta < advertising links removed . When you are there the second time they know all the more about you and this will help you in getting the loan even sooner.

- Thank you for starting your own questions and answer session. CDs here can smell spammers quite early. Trying to be smart will be counter productive at best. Good luck. M

Yes. I am a fool.

Murali

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I am a Gents and not a Ladies.

First step is to walk into your own bank and ask them for pre-approval - Try to deal with bank first...

if you are not qualified for some reason then go find mortgage broker ( they have ways to get you mortgage)

But if you simply looking for better rates than don't fight for 1 or 2 point and go with one of the major banks.


that does not mean brokers are bad - they do have good connection and good rates but buying single family house you don't need them.

Yes, you definitely wanna talk to brokers for business or commercial deals... they do know how to put paperwork together

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'Some goals are so worthy, it's glorious even to fail.' (Param Vir Chakra awardee Lt. Manoj Pandey)