What Is A Mortgage Broker

A mortgage broker is a person whose job it is to sell you a mortgage. An mortgage broker acts as an intermediary between you, the home buyer, and the bank who is lending the mortgage funds to you. As a result of getting you to sign up for the mortgage, they receive a commission on the amount of the mortgage. The amount they receive varies greatly based upon the arrangement with the bank. There are several reasons why it is beneficial to use a mortgage broker, including that they can guide you to the proper mortgage for your needs including whether it should be a fixed rate or variable rate mortgage. More info: mortgage broker Edmonton

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