One of the first big decisions prospective homebuyers face is how they plan to obtain their mortgage. Should they work with their bank, go direct-to-lender or choose a mortgage broker?
As a mortgage professional, you can probably assume the option First Avenue Financial would recommend. But below we would like to explain the reasons why working with a mortgage broker is the smart choice, particularly in today’s challenging and complicated market.
One of the biggest benefits is the expertise we bring to the table to help you navigate the host of new programs and restrictions introduced by government and regulators in recent years.
As the head of Ontario’s financial regulator said earlier this year: “We’re in interesting times right now. It’s never been more complicated to be a homeowner… And that’s why mortgage brokering is just so important.”
As a homebuyer, you need to be aware of not only the latest mortgage regulations, but also government programs and laws that could impact–or benefit–your purchase. Some examples include the First Time Home Buyers’ Tax Credit, the First-Time Home Buyer Incentive, the federal foreign buyer ban or the vacant home taxes now in force in select cities.
By working with a professional mortgage broker, First Avenue can take away the worry and stress of having to keep up with these ever-changing policies.
Of course, there are many other reasons to work with a broker. One is gaining access to our wide network of lenders, including banks, credit unions, mortgage finance companies and even private lenders. This allows us to compare multiple loan products, negotiate competitive interest rates, and secure favorable terms for our clients. By exploring various lending options, we can often find deals that may not be readily available to all borrowers, helping to ensure you get a mortgage tailored to your specific needs and financial situation.
Our services also aren’t restricted to purchases for primary residences. If you’re an existing borrower and have an upcoming renewal, we can provide valuable strategies to optimize your financial situation. As brokers, we analyze market conditions, interest rate trends and our clients’ evolving needs to recommend the most suitable mortgage options.
We are also happy to help if you’re considering purchasing a second home or investment property. Our jobs involve guiding clients through the specific requirements and financing options available for these transactions, ensuring a smooth investment journey.
Finally, as brokers we rely on strong referral networks built through trust and professionalism. We work closely with real estate agents, have in house financial advisors, work closely with other industry professionals. We often find ourselves connect clients with these trusted individuals as the need arises during your homebuying experience.
As you can see, there are many ways in which First Avenue can provide you with unparalleled benefits and personalized attention, guiding you every step of the way to ensure you make informed decisions and secure the best mortgage that aligns with your financial goals.
If you have any questions or would like to start the process of finding your ideal mortgage, please don’t hesitate to reach out. We look forward to being a part of your homeownership success story!