Best Mortgage Brokers In Oakville
The difference between a mortgage agent Oakville and mortgage broker Oakville is that a broker can supervise a team of mortgage agents, while an agent cannot supervise other agents. In addition, a licensed mortgage broker can hold the title of Principal Broker, which is basically the chief compliance officer of a licensed mortgage brokerage. That is the only difference; a mortgage broker and mortgage agent’s commission is not based on what the interest rate of the mortgage is, so they will try to get clients the lowest rate possible. Generally, Ontario mortgage brokers are paid by the lender. So, if a broker isn’t charging you directly, he is getting paid by the lender.
In the ever-changing mortgage industry, getting a mortgage in Canada today can be a challenge. The application criterion is a little tighter now. However, with a little preparation and choosing a professional mortgage agent/broker, you can considerably improve your chances of getting that mortgage. A mortgage broker/agent works on your behalf with a variety of lenders. If you are a first time homebuyer, new to Canada, self employed or have a less than stellar credit rating, a mortgage broker/agent can find a lender for just about any type of credit score.
To increase your chances of acceptance and turn yourself into a more appealing borrower and still get the best mortgage rates, consider working with the top mortgage experts in Oakville at The Oakville Mortgage Team.