Reach for the top: new boutique brokerage
sets a new standard for mortgage expertise
There was a time when prospective homebuyers went to a
mortgage broker only as a last resort when they were turned
down for financing with the banks. A mortgage broker was
primarily known for connecting the credit-challenged homebuyer
with some alternative funding - generally at a price.
It's been many years now, though, since the mortgage broker
industry in Canada hit the mainstream, mirroring the success
of mortgage brokering in the U.S. and the U.K. Over a third
of new mortgages in Canada are now arranged through mortgage
brokers, who have access to a huge range of lenders (over
50) – including almost all of the banks, trust companies,
credit unions and innovative lenders with very attractive
and specialized mortgages to meet almost every need.
It's hard to drive through a town of any size without spotting
a mortgage broker storefront, where mortgage professionals
can guide you through options you never knew existed. Their
success has pushed the major banks to respond with more
attractive mortgage options of their own.
And just as mortgage brokers have reached the mainstream,
a whole new caliber of mortgage experts has begun to emerge.
Early in 2006, top brokers recognized the opportunity to
set an exceptionally high standard in their industry, by
gathering together and creating a new firm.
This small, boutique-style brokerage – Mortgage Architects
Inc. – is setting a high standard for mortgage expertise.
To begin with, the mortgage planners who join have already
achieved the highest professional standards, and are chosen
for their reputation in their communities as well as for
the breadth and depth of their expertise in the industry.
In addition to their individual qualifications, they offer
a disciplined focus on mortgage planning, rather than a
"rate-shopping" exercise and simple mortgage transaction.
Today's market is very complex, with an overwhelming abundance
of products and options, including interest-only mortgages,
35 to 40 year amortization periods, over 100% financing,
a variety of stated income products for the self employed,
credit repair and debt consolidation, equity take out for
renovations, not to mention five separate mortgage insurers.
Canadians today need an experienced mortgage planner who
understands the intricacy of the marketplace and who can
provide recommendations and a mortgage plan based on their
needs and long-term goals. It makes sense; after all, the
purchase of a home is probably the biggest financial transaction
most of us will ever make. The right mortgage can save you
thousands of dollars and a mortgage plan is really a blueprint
to becoming mortgage free.
Like any other broker; the mortgage planners at Mortgage
Architects are paid by the lender that is selected to fund
the mortgage, and only after the mortgage closes. And because
most mortgage planners build their businesses through customer
referrals, ensuring that you have an excellent homebuying
experience is critical to their long-term success.
Mortgage planning; it's a concept to consider.
