Lloyd  Brown

Lloyd Brown

Sales Representative

Century 21 Infinity Realty Inc.

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Know Your Mortgage Lenders

With the mortgage rates raising it will become harder to qualify for homes. So what options do you have?

The two popular options currently are either going straight to a bank for the mortgage or going to a B-lender. The differences between a b-rated lender and a bank is pretty important, and you will want to know the differences for your next purchase.

Option A: Banks

The banks are usually your first thought when qualifying for a mortgage, and they offer competitive rates with no mortgage broker fees attached. However, there are situations where you may get turned down by a bank even though you have a full-time job and your full down payment for your home. Why does this happen?

Banks need to follow strict guidelines when qualifying someone for a mortgage, and if you do not meet all their criteria you may not qualify for a mortgage. When this happens it is important you take a look at your other options. 

Option B: B-Lenders

There are many other non-bank Lenders who are a lot more flexible and who will look closely at your particular circumstances including your ability to pay. These Lenders are all competing for your business. You now have the option of using a Mortgage Broker who will look at your credit and your payment options with more flexibility when compared to the banks. The Mortgage Broker will shop the competition for the best rate and services based on your particular needs. Naturally, they will make a great second choice for getting a mortgage.


Can I Switch To A Bank? 

There is always the option of switching to a Bank or another Lender who offers the better rate and services after the first term with the B-Lender.

Now you will get the home you wanted with the best term possible.


Would you like more information? 

Let's grab a coffee, 

Lloyd Brown 

Cell: 905-431-6446

Email: lloyd.brown@century21.ca



Upgrading or Downsizing

Whether you are moving into a bigger home because your family requires more space, you become Empty Nesters and want a smaller home or you are just moving out of the area,(laterally), changing homes can present a lot of challenges.
I am willing to guide you through the process.

Have Questions?

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