Mortgage Info

...

A good mortgage broker can help you to get your mortgage approved quickly, get the best interest rates and be there when you need them the most

What is a Mortgage Broker . . .

To define Broker:
A person who is paid to act as an agent for others for example; in negotiating a mortgage

Mortgage Brokers in BC must be licensed with Financial Institutions Commission (FICOM) or be employed by a Bank. Most Mortgage Brokers are also members of the Mortgage Broker’s Association of BC (MBABC)

How does a mortgage broker get paid?

Usually a mortgage broker is paid a referral fee by the lender of choice so there is no cost to the borrower. If the borrower does not qualify with traditional lenders, alternative financing may be an option. Broker fees may apply. This fee should be disclosed & agreed upon verbally with full written disclosure to follow.