20 Nov

Essential Facts You Should Know About Me And My Services


Posted by: Garry Grewal

1.   As many as 85 percent of all people in the USA use a mortgage broker and we are catching up quickly here in Canada.

2.   I shop on your behalf for the best rates and products from over 50 different Banks, Credit Unions and Trust Companies.

3.   My services are free to you because the bank pays me a finder’s fee. The industry is changing and banks now have to compete for business, so they value broker referrals. They spend millions of dollars operating their many branches, plus internal staffing and layers of management, so they can afford to compensate me while offering you deep discounts for the business we bring to them.

4.   Isn’t it time the Banks compete for your mortgage business? You wouldn’t get just one opinion from one doctor if your physical condition were in question, so why get just one opinion when your financial profile is going through the most significant transaction of your life?

5.   Your bank rarely provides the best rates and products. Most homeowners renew their mortgages automatically every four or five years, so they rarely receive the best available option. Since brokers send lenders millions of dollars of new business each month, they always offer us the deepest discounts which I pass on to you – whether you are purchasing, refinancing or renewing.

6.   Our application process is simple and quick. I’ll just take your information and send it electronically to the lenders that I feel are the best fit for your situation; I should have some feedback later that day or the next!

7.   One of my best benefits is I’m available on your terms! Isn’t it frustrating when a bank takes several days to get back to you, and then, if they decline you, you have to go through the whole process with another bank all over again.

8.   I check your credit bureau record only once and forward it to all the appropriate lender! Many people inadvertently disqualify themselves from getting the best rate when they are shopping for a mortgage. When multiple banks pull your credit bureau report, your “Beacon Score” drops, sometimes eliminating the chance for the best mortgage or a mortgage at all!

9.   There’s a mortgage product available for almost everyone now. When a person’s situation isn’t ideal, there’s usually a story about why; maybe they changed jobs, maybe they went through a divorce or another life altering event and their credit was affected. It is my job to tell your story to a suitable lender that will approve you.

10.  I sincerely appreciate your business and will do a great job so that you may confidently refer your family, friends and co-workers to me in the future! Has any bank employee ever told you that?!

11.  I am a certified Expert. Most bank employees are not Accredited Mortgage Professionals and only know about their own bank’s products. They do not know and cannot advise you to go to another lender where you can qualify. You wouldn’t go to your family physician if you needed a specialist! So deal with a mortgage expert specializing in mortgages from various lenders.

12.  I work for you, not the banks. I don’t get paid unless your mortgage is funded by a lender that provides you the product you need. I have no reason to get the lender to charge you more interest on your mortgage, because the higher the interest, the harder it is to get you qualified! Clearly I work in your best interest.

13.  Rate Protection. If the rates drop before you close you automatically get the lower rate and if rates go up you have the lower rate locked in. The last time you got pre-approved for a mortgage at a bank, did you get a commitment letter? Did they offer you rate protection like the one I can secure for you?

14.  I provide a Commitment Letter every time so you can relax and be confident your mortgage financing is in place!

15.  A mortgage through a broker is no longer a “last resort!” Actually we are becoming the first choice for knowledgeable borrowers.

For more information on how you can get the best mortgage for your specific needs, please call me at 416-674-5626 or send me an email: garry.grewal@dominionlending.ca