When it’s time to get a mortgage, the bank isn’t the only place you can look. A mortgage broker can help save you time and money while finding a mortgage that is a perfect fit. The advantage of dealing with a mortgage broker is that they will shop the market on your behalf.

“We can offer you different products and interest rates because we work with at least 40 different lenders,” says Eleonora Salerno, mortgage broker at The Mortgage Centre - Get a Better Mortgage Inc. All of these institutions are governed and regulated by the official superintendent of financial institutions (OSFI), so homebuyers know their best interests are taken care of when using a mortgage broker.

Another advantage to using the services provided by a mortgage broker is that it doesn’t cost you anything. The financial institution where you decide to sign up for your mortgage pays the mortgage broker’s fees.

“Mortgage brokers are trained and licensed professionals that are closely monitored by the government. We’re out to save you money,” says Salerno. By comparing rates at different financial institutions, a mortgage broker can save you time and money.

In the past, mortgage brokers were seen as a last resort to securing a mortgage if applicants were turned away from the bank due to bad credit. Today, choosing a mortgage broker to help you find the right mortgage is a smart decision that will benefit you in the long run. Even if you have a long lasting relationship with your bank, Salerno encourages you to explore your options.

“You don’t want to limit yourself to one lender and one product,” she advises, adding that it’s good to diversify your mortgage portfolio.

For more information of how Eleonora Salerno can help you find the perfect mortgage, call 905-850-1259 or visit www.thinkmortgages.ca.