Christmas shopping isn’t the only thing that happens at the last moment

As a mortgage broker it seems over the past few years that more people come to us at the 11^th hour needing money at the last possible moment. I remember when I first started brokering and the amount of lead time that was available for most deals. Three to six weeks was a normal timeframe to get a deal packaged, approved and funded. These days it seems like three to six days is a normal timeframe for getting a deal funded and completed. Borrowers need money quickly and seem to have less time for wasting time. If you find yourself in this position, here are some things to keep in mind as you go out and hunt for money:

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You get what you pay for

“Good work ain’t cheap and cheap work ain’t good”

Isn’t the only saying true – you get what you pay for. This is especially true when using a broker. Most brokers that help you find financing earn a commission for successfully finding you the money you need. Because you don’t pay them like you would any other professional you may be less impressed with the level of service delivered. The reason is simple – if you are not paying someone to look after your interests chances are very good that they are taking care of their own interests at your expense. Continue reading “You get what you pay for” →

Too much information

It appears that more and more people are looking to have someone work for them to help them understand their options. Both residential and commercial borrowers are trying to learn more about the various banks and lenders available and the difference between each of them. Like most businesses, banks and lenders have a certain type of client that they want to work with and trying to figure that out can be frustrating and time consuming. As a mortgage broker, we are constantly talking to banks, lenders and clients to shed light on how to put a deal together. A good mortgage broker will save you time and money so that you don’t need to do the shopping yourself. Whether you are purchasing a property, refinancing existing debts or are looking for other types or loans – we would welcome the opportunity to help. Email dylan@bridgecap.ca with any questions or concerns that you might have or visit www.bridgecap.ca/dylan.