Why You Should Use a Mortgage Broker

July 24, 2015

Back in the day when people wanted to buy a home they went through their bank. These days roughly a quarter of all Canadians used a mortgage broker the last time they needed a mortgage, and for first time buyers nearly half of them used a mortgage broker as opposed to a bank. There are a few reasons why people are moving away from banks and instead are using mortgage brokers more and more. The biggest reason is that it is far more difficult to get a mortgage through a bank than it was a generation ago, or even since the credit crisis of 2008. More than ever before banks have more stringent restrictions and requirements. Even if you were easily able to get a mortgage through your bank before, you might find that it is a lot harder now.

Historically people used mortgage brokers when they had poor credit or unusual circumstances, but now a mortgage broker is recommended for everyone. There is so many different paths availible when it comes to getting a mortgage that having an expert on your side is almost a requirement. Your mortgage broker will be able to tell you what is the best mortgage for you with consideration to interest rate and whether your application has a good chance of being approved.

If your situation is different than most peoples, for example if you are self employed, then this is where a mortgage broker will shine. If you have been turned down from the banks due to your age, being a contract worker, because you are retired, or for unknown reasons then applying for a mortgage through a broker might just give you the break you are looking for. Often a Mortgage broker can use their personal contacts to find out why your application was turned down so that you can make the required adjustments with the next lender you try.

A mortgage broker does receive a commission for setting up the deal, but even with this commission they could save you money by getting you a better deal than you would find on your own.

These days shopping for a mortgage can be a time consuming and tedious task. Seriously consider getting a professional to deal with this trying aspect of purchasing a home. In the long run it will be well worth it.

Combination Real Estate Agent and Mortgage Broker

Real estate and mortgage go hand in hand so why have two different people working on finding you a property and the other securing a mortgage for you? You might as well deal with one person and be done with it.

Scott Bowland makes purchasing your next property a one stop shop by combining Mortgage approval and Real Estate services under one roof! This will speed up the whole process, which could mean the difference between getting a great deal and missing out on one totally.

As a Mortgage Broker and Real Estate Agent in Penticton B.C. Scott Bowland makes purchasing your next property easier than ever by combining the two largest components of the property purchasing equation: Getting a mortgage, and scouring the city for a suitable property.

Scott has put together a simple, one stop shop for all home buyers. His centralized point of contact makes getting a mortgage and finding the most suitable property faster to give you a more than pleasant experience.

Knowledge and Experience

Penticton Mortgage Broker & Realtor Scott Bowland

17 years combined negotiating experience to get you the best deal possible.
Reputable and knowledgeable in both Mortgages and Real Estate.
Prompt, personalized, professional service.
Serving Penticton and the South Okanagan

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