ShopMyMortgage.ca

Looking For A Mortgage in Steinbach?

You Should Use A Mortgage Broker!

Today interest rates are at an all time low and the mortgage marketplace has become extremely competitive for all lending institutions. Understanding which lenders are offering better rates and reduced penalty structures to provide you with the overall best option can be confusing to figure out all on your own. Mortgage Brokers can help you understand which lenders are offering what products that will be best to gain your mortgage and help negotiate the lowest rates available today. Mortgage brokers can make your application easy since they shop the lenders for you, taking the work out of it for you. Mortgage brokers can work on your schedule so that you don't have to take time out of your busy schedule.

Quick Mortgage Rate Shopping Tool

Below are the direct links to the mortgage rates displayed on each major financial institution here in Steinbach Manitoba. You can shop and compare all the interest rates right here and compare it to the interest rates we can offer you as our client.

Steinbach Credit Union Mortgage Rates
Royal Bank Mortgage Rates
TD Canada Trust Mortgage Rates
Scotia Bank Mortgage Rates
CIBC Mortgage Rates

Our Current Mortgage Rates - Castle Mortgage Group

 

Use our Interest Rate Comparison Calculator to see for yourself how much money you can save by getting a better interest rate.

How can your interest rates be lower?

Wholesale vs. Retail. When you visit a lender, they are offering you a product that they purchased from somewhere, marked up the price, and then are trying to sell it to you for a higher price than they purchased it for. Some lenders choose to price their product quite high, and then negotiate the price lower if you state that you are not wiling to pay the higher price. The problem is, how low can you go?

 

Lenders have guidelines on how low they can go, because they need to factor in the costs of running the office locations, staffing wages, marketing expenses, building costs and taxes that all have to be worked into the price of the product "your mortgage interest rate" they are offering you. If you choose to work with a mortgage broker, we only work with the baseline lowest rates as we do not have the ability to play with the interest rates like the lenders do. Mortgage Brokers essentially compare the wholesale stripped down cost of each lending institutions interest rates. Mortgage brokers essentially are a virtual branch extension of all lending institutions. Because a lender will only pay a mortgage brokers if that lender obtains your mortgage, mortgage brokers have no ongoing costs to a lender. It is an extremely convenient way for lenders to gain more business with the "pay for a client" model. Since they save large amounts of money then on marketing costs, staffing, office overhead that they had to pay for each of their branches, most lenders can rationalize paying a small upfront fee to a mortgage broker rather than paying those large ongoing overhead costs to gain your mortgage. The mortgage broker fee the lender pays us, is still worked into the low interest rate you just obtained, so you the client do not have to pay a mortgage broker any money for our service. Efficient professional trustworthy mortgage brokers can be a cost effective way for lenders to obtain your mortgage for them without them spending millions of dollars on costs for opening additional branches or expensive marketing campaigns. Lenders then have the ability to dictate what kind of clients they want to see from mortgage brokers, and they can offer special promotions for the types of applications they would like to see. This provides a healthy competitive market for strong applications and gives you the client significant savings. The mortgage broker system is designed to help save lenders money, while passing the majority of those savings down to you with reduced interest rates while maintaining a great broker lender relationship. Remember, it is free to use a Mortgage Broker and it is free to walk away.

 

Who would my mortgage be with and where is it being held?

Your mortgage can either be right here in Steinbach where you can physically walk into a local branch, or some of the lenders we work with can be based in other parts of South Eastern Manitoba, Winnipeg, Toronto, Calgary, or even virtual locations. We work with over 60 different lending institutions for you to choose from, so the options are fairly endless. We do have the ability to get you a better rate right here in Steinbach and keep your mortgage in Steinbach if you feel more comfortable with that option. We can walk you through your options and you can decide what you believe is best for you.

Apply Online for your Next Mortgage | Ask Us Your Question

I would love to let you know more about mortgage brokers and how they help, feel free send a quick email on my Contact Us page. To lean more about the services of Matt Wieler, AMP or more about Castle Mortgage Group out of Steinbach Manitoba, click the About page.

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