Is it Worth it to Get a Second Opinion From a Canadian Mortgage Broker?

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Is it Worth it to Get a Second Opinion From a Canadian Mortgage Broker?

So, you’ve been down to your local bank and gotten approved for a mortgage. That means you are ready to meet with your realtor and go buy a home… right?

Actually, we hope you’ll take our advice and call a Canadian mortgage broker (like the experienced team we have here at Source Mortgage) to get a second opinion on your home loan before you finalize your purchase. Doing so might seem like an extra step, but you’ll get a few important benefits:

It could save you a lot of money. Because we work with dozens of lenders, we can shop around competitively for different types of rates and loans. Since most local banks only have one or two mortgage options, this process can lead to dramatically lower mortgage rates.

You’ll get peace of mind either way. If we can’t beat the rate you’ve already gotten from your local bank, we’ll be happy to tell you so. What could be better than having that peace of mind when you finally complete your home purchase?

It takes very little time. Our mortgage agents can help you complete the paperwork and research, so your time commitment can be very small. You just tell us what you’re looking for a home loan, and we’ll see if any of our established lenders can offer you something better than you would’ve gotten elsewhere.

Homebuyers sometimes assume that we want them to call us for a second opinion so that we can “steal” the business from their local bank. Having been in this industry for more than 20 years, we just don’t have any incentive to do that – it isn’t worth it for us to do a lot of paperwork if we can’t get a new client something substantially better than what they’ve already been approved for.

What does make the process worth it, however, is finding that we are sometimes able to save homebuyers big money on their mortgages, and get them more favorable terms. Why not get a second opinion from our team and make sure you’re getting the best possible rate on your home loan?

Written by Lori Donovan. Visit Lori on 



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Heartwarming Stories

Source was absolutely great to work with - went above and beyond to help us get everything done when buying our new home. Highly recommended!! Chad and Jenelle Richards Jan 09 2013

Chad and Jenelle Richards
Added January 23rd 2013

Interest Rates

6mth Term 3.95%
1yr Term 2.99%
2yr Term 2.69%
3yr Term 2.99%
4yr Term 3.39%
5yr Term 3.04%
V.R.M. Prime-.65 or 2.35%

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