What's a Mortgage Agent?

A mortgage agent (or mortgage broker in some provinces) is an independent agent, or intermediary between you the consumer and the mortgage lender. The mortgage broker will shop the available lenders to find the mortgage product that offers the best combination of features, options and rates to suit your individual circumstances.

A good investment advisor can make you thousands of dollars. But a good Mortgage Broker will SAVE you thousands of dollars. Whether you are buying a home, refinancing or renewing a mortgage, consider making Rick Stender part of your financial plan this year.

Why use a Mortgage Agent?

With the fluctuation in interest rates of late, homeowners have become more aggressive in seeking out the best possible terms from a lender. The appeal of a mortgage agent lies in the opportunity to effectively search a large segment of the mortgage industry for the optimum terms, rather than negotiate personally with only one or a few lenders. As a result, the popularity of independent mortgage brokers is growing. Last year, 33% of all mortgages originated in Canada were placed through a mortgage broker compared to 27% in 2006.

A mortgage agent can also be a source of information and provide unbiased help in wading through the myriad of options available in the mortgage industry today. For example...

• Wondering about the advantages of refinancing?
• Want more information on the Home Buyers Plan?
• How about advice on adjustable rate mortgages?
• Having problems getting a mortgage because you’re self-employed?
• Need assistance with arranging financing for an investment property?

These are the kinds of issues a mortgage broker can help with. The best part - depending on your credit picture - there is no charge for the service! The mortgage agent’s fee is normally paid by the lender*.

*On approved credit only, (OAC).
Fees may apply in some circumstances on unqualified transactions.