This weeks Tuesday talk was with Gord from Blue Tree Mortgages WEST. Why use a mortgage broker instead of a bank? Brokers do the shopping for you and in most cases, there is no fee for to the borrower for this service. The broker does the leg-work for you and is paid by the lender. Brokers have the connections and access to best rates so no need for consumers or homebuyers to spend hours on the phone or internet shopping and searching. A new learnt fact for me ~ once qualified, rates are guaranteed. I was aware they'd be guaranteed against rising but didn't know borrowers are offered the lower rate if they drop prior to closing. Not only are mortgage brokers used for first mortgages, but they also assist in refinance transactions, whereby homowners wish to use the equity in their current home to finance a second purchase. Also important to note is that most mortgage brokers are capable of working virtual from start to finish so in keeping with Covid restrictions, doing business in the safety of your home is as easy as opening an email on your computer or phone. Reach out to Gord for more info or to get your best qualified rate today.