Getting a mortgage online has never been easier, but are you getting the services you need to save even more?
What can’t you buy online today? You can add a mortgage to your list of things you can do online. Doing the entire mortgage approval online is beautiful (i.e., very convenient), whether it’s your first approval, your next approval, or your renewal or refinancing.
But are all online mortgage services playing an equal role? Over the last few years, we’ve seen mortgage startups promising smarter mortgage ease and ultra-low interest rates at the click of a button. A few have appeared.
That convenience doesn’t necessarily mean that a mortgage will turn into real savings and financial certainty.Using a full-service broker instead may be a more reliable way to go. .
Digital Only Service: Who Handles Your Mortgage?
If I looked at the website of an online-only mortgage service, would I be able to find or contact an agent that might handle mortgages? It may rely on perfecting an algorithm tailored to the needs of the process, not a broker dedicated to the process, but offering the promise of a “team” of human help when needed.
Every mortgage is different and the details can be complicated. How easy is it to find a “team member” if something doesn’t seem right?
A full-service broker that includes a convenient online process may be a more reliable method.
Top trusted brokers like True North Mortgage put a lot of effort into training their professional brokers and list all their brokers (and their contact information) on their website. preferred language.
We recently spoke with Shawn Arshad, a longtime broker at Toronto-based True North Mortgage, about the complete service they offer their clients (including easy online approval anywhere in Canada).
“A client came to us complaining that a digital-only mortgage company had overlooked some details and impeded the approval process,” Sean explains. “I want to finance them quickly and thoroughly, sometimes entirely online, using better rates and more flexible products, while securing mortgage financing in time to get the house.” They saved money and were very grateful for our seamless service.I hope to help them again in the future if needed.”
True North offers many ways to personalize your mortgage. store (Yes, they have brick-and-mortar stores that help with mortgages face-to-face), or a mobile broker can come to you.
Digital startups may resort to deeper fee discounts that can cost them later
Digital-only mortgage companies are relatively new to the space.they may offer super low A rate designed to attract business, but often by reducing features (such as prepayment flexibility or portability) or by including restrictions, hidden fees, or higher penalties to make up for the difference later. and will cost more in the long run.
A homeowner who chooses a standard 5-year mortgage term may only last about 3.89 years (on average) before making changes (such as refinancing or selling the house).So the startup is betting that more money is likely to come later, and may try anything to get the mortgage dollar (learn how cashback offer can work against you).
Highly trained brokers are able to quickly offer the best rates and products to their clients, whether online or not
True North’s brief Online applicationyou are instantly matched with your go-to salaried and unbiased broker for your mortgage transaction. and thousands of products quickly, offering the best rates, lenders, and volume discounts on products for your situation.
Their expert brokers are real people who care about saving their customers money.
Use Canada’s Top Rated Mortgage Broker for the Mortgage Amount That Matters
most 5 star review In business (by far) True North was founded over 16 years ago as the answer to better interest rates and mortgages for homeowners in Canada. boost the industry To do better on behalf of our clients.
Their innovative, customer-first approach goes the extra mile to provide a convenient mortgage experience. Contact us today and decide for yourself. The service is free and without obligation.
Expedited online pre-approval is here in Canada #1 Mortgage Broker.