When it’s time to embark on your search for a new mortgage provider, you’ll discover a multitude of options at your disposal. Mortgage lenders differentiate themselves through factors such as flexibility, customer service, and a range of mortgage products, in addition to competitive rates.
Commercial banks stand as major players in this field. However, recent legislative changes in Canada have made obtaining a mortgage from a big bank more challenging than ever. It’s important to note that a bank can solely offer its own products and rates, limiting your choices.
Credit Unions play a role by providing a portion of mortgages to Canadians, especially in smaller and rural communities. They are renowned for their excellent customer service and flexibility in customizing mortgages. Nevertheless, their selection of mortgage products is somewhat limited, and rates may occasionally be higher than those offered by banks.
Private lenders offer a quicker approval process with less bureaucratic red tape compared to traditional lending institutions. This can be an attractive option for borrowers with less-than-perfect credit or individuals who do not meet the lending criteria of banks. Take action now and apply!
We, as mortgage brokers, undertake the task of shopping around and negotiating lending terms on your behalf to secure the lowest market rate. Thanks to the volume discounts we receive, we can pass on reduced rates to you. Additionally, we have access to exclusive deals that aren’t accessible to the general public. At Interfinance Mortgage Corporation, our expertise encompasses the entire mortgage landscape. We can provide guidance on which lenders are most likely to accommodate your borrowing needs, including those specializing in serving individuals with tarnished credit histories.