That’s a good question, I feel that most days my job is extremely multi-faceted, I’m not just helping you get a mortgage. Here’s some of the multiple roles I play.
First and foremost as a mortgage broker I work for you the consumer,
Secondly it is my responsibility to see that we are getting you the best rate with the best features for your situation.
As a mortgage broker I have access to many lenders and many rates not all of them are created equal as the rate may be low but the penalty to exit or pay down the mortgage maybe higher than it needs to be for your situation.
Mortgage brokers who are skilled in the private lenders world are also hard to come by and at Brokers For Life we have multiple skill sets among our team. As a mortgage broker it is prudent that you know how to deal with all types of clients and many more clients these days are turning to alternative lenders for financing.
Why would they need these lenders, mostly because of the multiple changes in CMHC rules regarding stated income and self-employed clients? Part of what we do is secure private financing for these clients.
As a mortgage broker we also offer you mortgage life insurance, this product is designed to help protect your biggest asset in life your home. Many families suffer traumatic loss of one spouse or the other and what better way to set them up for such a loss than to have insured the principal owners against it happening. We’ve seen more than one occasion where the family hasn’t taken insurance and end up losing the home because they surviving spouse couldn’t afford it on their own. Part of that insurance is also disability which is in effect after 60 days, most people can survive making payments for 60 days but after that things get a little tight on the budget. Having disability will at least allow for the payment of the mortgage to continue and pay your property taxes which can also be something that can interfere with your homes ownership.
In our case at Brokers for Life we also offer the possibility of getting a quote on home fire insurance, as you can see we are a multi-faceted organization that is here to help you at all stages of life as we want to be your Brokers for Life and offer you “Real life Mortgage Solutions”.