Canadian Bank Or Mortgage Broker | Which Is Better For Your Mortgage?

So you are on the hunt for your dream home or next investment property, but who will you source your mortgage from? Should you go with your bank or perhaps an independent mortgage broker?

In this video, Surrey real estate specialist Steve Karrasch of Macdonald Realty, explores the various factors to consider when deciding on whether to work with a Canadian bank or mortgage broker when it comes to securing a mortgage.

#SurreyRealEstate #SurreyRealtor #CanadianMortgage

If you are looking for help or have any questions regarding real estate in Surrey, Metro Vancouver or the Fraser Valley, please reach out below using which ever way is most convenient.

📱 call or text: 604-549-5828

If you are looking for a better experience when selling or purchasing a home, contact us. We love providing an open and transparent line of communication in residential Real Estate transactions. Our team has deep roots in Surrey but also specialize in transactions across North Delta, Cloverdale and Langley.

[lloydchoong]

Hi there, which mortgage broker in Vancouver/Surrey would you recommend? Many thanks

[Tireservice]

Hello do you know the guidelines and ethics for big banks to follow ?
I was late filing my docs for a port from rental (rbc) to primary( other bank) home (port and blend)... the said theyll ask for underwriters leeway on late docs. They approved the app 18 days later... and the next day denied it for late doc filing . I was clearly mislead into a newer mortgage at a 30% higher rate which . This has caused hell for me. Am i crazy to seek compensation?

[rayyenkana]

Good video, hope it's ok to share!

[mehradmirzaei]

Useful information indeed 👍 how about the fees that brokers charge their clients? They claim that some lenders don't provide compensation and they will charge the borrowers a fee which is 1% of the loan amount. Is that even legal? Thank you.

[Cherrycola]

Hi do brokers get paid more from banks wanting more business like TD versus another bank. I previously said I didn't want to go with TD again to YMS and yet I'm seeing them trying to change my mind.

[tuanis]

don't the banks penalize you much bigger for paying out the mortgage before the term ends? Isn't the bank's IRD calculation worse than a non-bank lender for fixed rate mortgages?

[planesandbikes]

I have a month to mtgg maturity. I call my Scotia professional acct guy. No response until 2 days later just to say he's going on leave, email this other guy. So I email him and ... crickets. I put a million dollars a year biz through Scotia for the last 20 years and this is their service quality? I think I want a broker just to get things moving with someone whom is responsive. OTOH Scotia in the past has been aggressive in giving us lower rates that posted.