Whether you’re a first-time house buyer or a budding business owner, you’re probably looking for a best mortgage broker in ottawa to help you find the ideal location. We’ve got just what you’re looking for in this post.
• We’ll be highlighting 7 of the best mortgage brokers in Ottawa
• the average costs for their services
• and answer some FAQs at the end.
7 Best Mortgage Brokers In Ottawa
Below are the best mortgage brokers in Ottawa, and they include the following:
1. Mortgage Brokers Ottawa
Mortgage Brokers Ottawa has been in operation for many years, serving consumers in Ottawa and the surrounding areas. They’ve won the Consumers Choice Award for 9 years in a row, which speaks much about their reputation.
Their website is comprehensive, with online mortgage calculators, information, and biographies of all of their licensed brokers, among other things. They collaborate with reputed lenders while also offering competitive rates.
Clients say that customer service is second to none because they walk each client through the process, manage complaints and problems professionally, and build long-term connections with them.
• Very informative website
• Multiple languages spoken
• Reasonable fee rates
• They are in high demand
Perch is a company that offers homeowners a centralized site where they can purchase and sell properties at fair and negotiable pricing.
They are members of reputable trade groups such as Communitech and the Canadian Lenders Association, among others.
Their staff has substantial prior experience in sectors such as data science, software engineering, deal-broking, and many more.
These factors make them incredibly competent, which is one of the reasons why locals trust them.
You can also visit and use their website at your leisure for a variety of quick services. In fact, many of their clients can rely on Perch’s materials for local information on houses in the area.
• Convenient Inquiries
• Reliable resource materials are accessible
• Wide range of communities accommodated
• There are No physical locations
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3. Andrew Thake
Andrew Thake may be the finest Ottawa mortgage broker for you if you want a mortgage broker who provides personalized service. Andrew brings over a decade and a half of mortgage experience to the table.
He aims to foster relationships with his clients in order to understand their wants and needs and to provide them with comfort and security when purchasing their dream homes. First-time home purchasers, non-residents, and self-employed buyers are among Andrew’s specialties.
Andrew has links to over 40 lenders, including banks and credit unions, when it comes to options. In recent years, he has also underwritten mortgages worth more than $600 million.
However, because of his track record, Andrew Thake and his team are sought after by many house buyers.
• Handles the whole mortgage process
• Connections with various banks, credit unions, and private lenders
• Caters to non-resident and self-employed buyers
• Personalized services
• Booking might be difficult due to their highly-demanded services
4. The Wilson Team
The Wilson Team has been a full-service mortgage and lending company since 1981. Throughout Ottawa, they offer clients professional and licensed services as well as tailored solutions.
The organization has access to over 30 reputable lenders who will collaborate with you to get the ideal product for your needs.
After you have submitted all of the required paperwork, you will be given a mortgage strategy to help you accomplish your financial and homeownership goals.
According to client feedback, The Wilson Team takes a tailored approach to assist customers in locating the best loan solutions at competitive rates. Their licensed professionals are also quite pleasant to work with.
• excellent customer service
• Easy to work with
• Closed on weekends
5. Chris Allard Mortgage
Chris Allard Mortgage provides all forms of mortgage services, including residential, commercial, and private loans. This mortgage organization also assists homeowners who would otherwise be unable to obtain enough mortgages due to poor credit.
This firm also has a significant team of mortgage specialists. It is led by award-winning mortgage broker Chris Allard, who is assisted by three other mortgage brokers.
Chris also loves to think about his client’s wishes and needs. And as a result of his early exposure to business and finance, he is equipped to push mortgage applications through to approval.
In addition, the organization has ties with 15 bank lenders to provide its clients with more credit options.
But what truly distinguishes Chris Allard Mortgage is that it also provides credit counseling and debt consolidation services to help clients improve their credit.
• Award-winning mortgage broker
• Large team of brokers
• Offers credit counseling and also debt consolidation services
• Caters to those with bad credit
• Booking might be hard because of their highly demanded services
6. Mortgage In Ottawa
Since its inception in 2014, Nick Bachusky has been the mortgage counselor and sole proprietor of MortgageInOttawa.com, providing mortgage services in Ottawa.
As an independent broker, he is the only person you need to meet and speak with. He provides free estimates as well as a mortgage tracker that is just available to his clients.
According to him, the mortgage procedure is neither simple nor obvious, which leads to most people not completely knowing their options. He wants to alter that, and he promises to help you every step of the way, which clients agree on in evaluations.
• 24-hour service
• Very highly rated
• Just one employee, so expect backlogs sometimes
7. Ottawa – Carleton Mortgage Inc.
Ottawa – Carleton Mortgage has been originating mortgages worth billions of dollars for thousands of consumers since 1989. They are independent of all mortgage lenders, which means they provide unbiased suggestions from a number of mortgage providers.
According to them, every one of their highly competent and qualified brokers strives to develop a long and satisfying relationship with their clients. As far as we’ve seen in reviews, this assertion stands up pretty well.
They work with numerous lenders and are BBB-accredited, but that doesn’t make them daunting to work with! According to clients, each employee is pleasant and courteous.
• 24-hour service
• Clunky website
What to actually Look out for in a Mortgage Broker
Below are a few things to look out for if you are looking to hire a good mortgage broker
This is something that both parties should actively work on. Communication is essential in every healthy relationship.
Your mortgage broker must be forthright and transparent about all documentation, expenses, and restrictions.
Similarly, if you have a low credit score, you must inform them as this is critical information that will assist them in finding the best price for you.
If you’re new to purchasing or refinancing a house, having someone walk you through each stage of the underwriting process is essential. Consider how easy it is to reach them, their promptness, their staff, their experience in the industry, and whether they respond simply and concisely.
#3. Application Process
Before choosing one broker, inquire about the application process. This is where you’ll be able to see if they’re someone you’ll want to rely on in the future.
• Loan product requirements for credit score, debt-to-income ratio, down payment, etc.
• The Documents and deadlines required at each stage of the loan process
• Cost and timeline to lock in a rate.
• Average time to closing
• If they have an online platform where one can upload documents and monitor the progress of their loan
• An estimated fee sheet, including third-party fees and also lender fees
• Companies used for home loan services (appraisal, title insurance, escrow, etc.)
To acquire the most accurate loan cost, you should ask this question as specifically as possible. Interest rates fluctuate/change on a daily basis, so give all of the information on the same day you want an estimate on the rates you can acquire.
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The best mortgage brokers in Ottawa can go beyond providing you with the best rates and actually ensuring your financial future.
Is it better to get a mortgage through a broker or a bank?
A mortgage broker can provide additional options and streamline the mortgage process but negotiating directly with a bank provides you more control and costs less.
Is it cheaper to use a mortgage broker?
A mortgage broker can assist you in reducing fees: When you get a mortgage, you’ll probably be charged an origination cost, an application fee, an appraisal fee, and other fees. A mortgage broker may be able to convince the lender to forgo some or all of these costs.
Is it worth talking to a mortgage broker?
Whether it’s your first mortgage or you want to re-mortgage, it’s important to consult with a mortgage expert at the outset of your mortgage adventure. In the long run, it will save you a lot of time and work. It’s a good idea to contact a few different companies to see what’s available and compare rates.
You can learn more from the video below:
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