With an abundance of bank branches and mortgage brokers available, it’s no big secret that the Canadian Mortgage Market is a saturated, hyper-competitive one. Ultimately, this is a great thing for you – the customer, because it drives down rates. However, given the heaps of information and the number of choices out there, one of the drawbacks is that trying to make good financial decisions, can be like trying to give yourself a root canal. Given this, it can help to start with one of the higher level distinctions in making your mortgage decisions. So here we look at the difference between using Banks vs Mortgage Brokers :
These represent the three main differences between a mortgage broker vs. bank, but there are several other important differences to consider. In true ‘Top 10’ fashion, we will take a look at 7 more differences to provide a more complete perspective.