Blog | Toronto Mortgage Brokers (2024)

Author: Yourmortgageyourway .ca | Dec 04, 2023 | Categories: Mortgage Advisors , Mortgage Brokers , Mortgage Consultants

Embarking on the journey to homeownership is a monumental decision that can enhance your life in countless ways. However, the choices you make regarding your mortgage can significantly impact your financial well-being. In this informative guide, we’ll explore the key differences between fixed-rate and adjustable-rate mortgages, two of the most common options for financing your home. As dedicated team-focused professionals serving clients across the Greater Toronto Area and all over Canada, we understand the importance of making the right mortgage decision. Join us as we navigate the world of mortgages, shedding light on the pros and cons of each type, helping you determine which one aligns best with your unique needs.

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Author: Yourmortgageyourway .ca | Nov 13, 2023 | Categories: Mortgage Advisors , Mortgage Brokers , Mortgage Consultants

Embarking on the path to homeownership is an exciting journey that many dream of. However, for first-time homebuyers in the Greater Toronto Area and across Canada, this journey can seem overwhelming at times. As dedicated team-focused professionals committed to enhancing your life through tailored mortgage solutions, we understand the challenges you may face. In this informative guide, we’ll walk you through the essential steps for first-time homebuyers, shedding light on the intricacies of the mortgage process. Join us as we demystify the world of mortgages and help you take your first steps toward homeownership.

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Author: Yourmortgageyourway .ca | Oct 27, 2023 | Categories: Mortgage Advisors , Mortgage Brokers , Mortgage Consultants

Are you considering entering the world of homeownership? Exciting times lie ahead as you embark on the journey of purchasing your dream property in the Greater Toronto Area or anywhere else in Canada. However, before you can call that house your home, there’s a crucial factor you need to understand – your mortgage interest rate. In this comprehensive guide, we will delve deep into the top factors that affect your mortgage interest rate. Armed with this knowledge, you’ll be better equipped to make informed decisions and secure the best mortgage loan that suits your needs. Let’s dive right in!

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Author: Yourmortgageyourway .ca | Jun 10, 2021 | Categories: First Time Home Buyer Mortgage , Fixed-Rate Mortgage , Low-Interest Rates , Mortgage Advisors , Mortgage Brokers , Mortgage Consultants , Mortgage Financing , Mortgage Leasing , Mortgage Pre-Approval , Mortgage Solutions , Mortgage Specialists , New Home Buyer Mortgage , Refinance Mortgage

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FAQs

What not to say to a mortgage broker? ›

10 Things Not To Say To Your Mortgage Broker | Loan Approval

1) Anything untruthful.
2) What's the most I can borrow?
3) I forgot to pay that bill again.
4) Check out my new credit cards.
5) Which credit card ISN'T maxed out?
6) Changing jobs annually is my specialty.

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Mar 10, 2023

Is it worth paying a mortgage broker? ›

It's important to see a mortgage adviser at the start of your mortgage journey whether it's your first mortgage or you're looking to re-mortgage. It will save you a lot of time and effort in the long run. It's a good idea to speak to a few different firms to see what's on offer and to compare fees.

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Is mortgage broker a good side hustle? ›

A career as a part-time mortgage broker can be fulfilling for financially inclined professionals. This career is also flexible, as it allows you to complete your tasks as a broker while pursuing other interests.

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Is it better to use a mortgage broker or a bank? ›

Are brokers better than banks for getting a mortgage? Mortgage brokers typically have two main advantages over banks. They offer access to a wider selection of mortgage products and they can leverage their relationships with multiple lenders to get their clients better rates.

Is it OK to talk to multiple mortgage brokers? ›

Can you have two mortgage brokers? Using multiple mortgage brokers can be possible, although it might not be a good idea, particularly if they're both submitting applications on your behalf.

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Is it worth talking to multiple mortgage brokers? ›

Don't stop with just one lender! By exploring your options with multiple lenders, you get more information about your options and get a sense for which loan officers you might feel most comfortable working with. Call each lender to set up an appointment to meet with a loan officer.

Who is the best mortgage broker? ›

L&C Mortgages

It is one of the largest and best-known national mortgage brokers, offering a whole-of-market view with no fee.

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What is the average broker fee? ›

How much do mortgage brokers charge in fees? All mortgage lenders pay a mortgage broker a commission or procuration fee, typically being 0.35 percent of the full loan size. Any additional fees charged to the client are optional and are individual per broker.

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How to get the lowest mortgage rate? ›

8 steps to get the best mortgage rates

Improve your credit score. ...
Build a steady employment record. ...
Save up for a down payment. ...
Understand your debt-to-income ratio. ...
Check out different mortgage loan types and terms. ...
Consider paying mortgage points. ...
Compare offers from multiple mortgage lenders. ...
Lock in your mortgage rate.

Feb 26, 2024

What is the most a mortgage broker can make? ›

Mortgage Broker Salary in California

	Annual Salary	Monthly Pay
Top Earners	$107,079	$8,923
75th Percentile	$100,700	$8,391
Average	$80,305	$6,692
25th Percentile	$74,000	$6,166

What kind of brokers make the most money? ›

High Paying Brokerage Professional Jobs

Broker. Salary range: $45,000-$131,500 per year. ...
Commodity Broker. Salary range: $97,500-$112,500 per year. ...
Energy Broker. Salary range: $60,500-$78,000 per year. ...
Associate Broker. Salary range: $44,000-$73,500 per year. ...
Stock Broker. ...
Broker Assistant. ...
Brokerage Clerk.

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How do mortgage brokers make money? ›

For each deal that they arrange, they typically receive a payment that equals 1% to 2% of the loan amount from either the borrower or the lender.

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Can mortgage brokers get you a bigger mortgage? ›

Talking to an experienced mortgage adviser with access to the whole of the market may result in a bigger mortgage in this situation, as they know the lenders to approach when you have the flexibility of increasing your deposit.

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Do mortgage brokers have your best interest? ›

Best interests duty only applies to mortgage brokers and not banks or other non-bank lenders. So unlike when you go directly to a bank or lender, your broker is required by law to act in your best interests.

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What do mortgage brokers care about? ›

The broker will collect information from an individual and go to multiple lenders in order to find the best potential loan for their client. They will check your credit to see what type of loan arrangement they can originate on your behalf.

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What to know when talking to a mortgage broker? ›

Make sure you ask your mortgage lender – or broker – plenty of questions about income requirements, the types of loans you qualify for and how much you have to save for a down payment and closing costs. Do you have questions or need help finding the right loan for you?

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What do you say to a mortgage broker? ›

Your important details. This includes basic details that you know back to front (like your address and date of birth). But it can also include financial details like money coming in and out. You don't have to get too specific at this stage, just a rough idea of your income and main expenses.

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What not to say when getting a loan? ›

Here are three things to avoid saying so you don't raise red flags.

"The house is in bad shape." When you get a mortgage, the home is collateral for the loan. ...
"I'm still figuring out where my down payment money is coming from." ...
"I sure hope I can afford the payments after I quit my job next year."

Oct 1, 2023

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