Mortgage Broker in Surrey

The best mortgage brokers in Surrey provide a variety of benefits. When working with a mortgage broker, you have several options to choose from. It's a stark contrast to dealing with a bank, where options are limited.
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A mortgage broker works with all parties involved in the lending process, from the realtor to the underwriter and closing agent, to ensure that the borrower gets the best mortgage possible in the shortest amount of time.
Brokers, unlike lenders, can choose to work independently or with a brokerage firm based on their practices. Borrowers do not have to worry about researching or negotiating with a lender. The application and approval process for a mortgage is also the broker’s responsibility.
Many brokers also have access to advanced mortgage application technology that can submit an application to various lenders simultaneously, which speeds up and simplifies the process.

Advantages of working with a mortgage broker in Surrey

It takes a significant amount of time and effort to search the mortgage market for the best deal. Your free time will be consumed if you try to fit a property purchase into your daily routine. To get quotes from several banks would require multiple applications, multiple credit pulls and understanding the intricacies of each offer.
Rate is not the only thing to consider when obtaining a mortgage. There are prepayment penalties, what term you should select, fixed or variable and what you can afford.
When you hire a broker, you will be guided by someone who is familiar with the industry and has spent time scouring it for suitable terms. You will save time and energy as a result. A mortgage broker in Surrey will search the market and find the best option for you, irrespective of your credit history. They will find a flexible lender who can meet your criteria and offer you great terms.
They can offer advice on how to increase your credit, what you are approved for and how to meet your financial goals.

If you can relate to these scenarios, you've come to the right place! With Freedom Capital, our borrowers receive custom-tailored commercial financing solutions and quick approvals.

Isabella Flores
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Freedom Capital Team is one of the most amazing mortgage brokers that I have work with, the level of service they provide is outstanding. The team is very professional and were able to answer all of my client questions. Very responsive and acted fast on a mortgage that need it to get approved fast. Highly recommend working with Freedom Capital. Thanks Pip, Sylvia and Kathy
RSB Developments Ltd
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Positive: Professionalism, Quality, Responsiveness, Value Pip and his dedicated team at Freedom Capital went above and beyond for us. We gave them a challenge of getting approval for us within 24 hrs and they were able to do it! I am so appreciative of Pip and his team for taking the time to not only help us understand the process but get it done Quickly! It was easy to see that Pip really values his clients and their best interests. We would work with Pip and his team in the future!
Kim Vo
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I am very happy to have worked with Pip, Sylvia, Rosy, Kathy on my recent mortgage fund. Especially Kathy and Rosy with constant follow-ups and conversations with me all along the application until funding date. Rosy has guided me through the process which I needed. I understand it must be a whole team effort, a lot of work must have occurred behind the phone line in which me the client might not be able to see after I hang up conversing over the phone. They have worked diligently to bring satisfaction serving their clients. I truly appreciate and grateful to deal with Freedom Capital!
John Vranic
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I have worked with many private lenders in the past and I must say that Rosy Ram was the one of the best people to deal with. To top it off my situation was extremely difficult and had many layers to it. After submitting documents that Rosy required she was able to get me a deal quite quickly. I was pleasantly surprised how professional and efficiently she worked. Many other lenders will promise you deals, string you along only to fall short in the end. All the terms, conditions and rates were very reasonable in light of my situation as well. Looking forward to doing more business with Freedom Capital!
AMIR Rahimtula
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Pip Dhaliwal and The Freedom Capital Team are top producers in the mortgage game. Time after time they come forward effectively, efficiently with experience that counts and competitive results! As commercial developer we trust Pip and his team when they say they will get it done! They think outside the box and deal size never matters with Freedom Capital, they have knowledge and relationships with credible financiers to make our 106 unit condo project a reality and help Transnat Properties provide affordable homes to the public.
Gregory Hilman
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We had another broker working on our deal for over three months, and the service was very disappointing... Then we called Pip for a competitive assessment, he made the deal in less than 2 weeks, and it was 3 x what the other lenders were offering. We even got open terms and better interest rate than we expected. Fantastic service and A very reputable lender… We would never go to another broker again!! 5 STARS!!

Client Testimonials

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The Process of Hiring a Mortgage Broker in Surrey

A professional broker will also search beyond the rate, the terms of the mortgage, understand the mortgage contract, and consider any applicable costs. This will ensure you obtain a mortgage that makes sense for your situation.
In many cases, mortgage brokers can offer you a wider range of products than you could find if you did your own research. Your broker is likely to be a member of a professional network and will be able to offer you products that aren’t available to the general public.
Mortgage brokers can also handle the application process and keep the borrower informed about the lender’s status if the borrower so desires. This can be extremely beneficial for busy borrowers, as it allows them to focus on other aspects of their lives. When it comes to the application process, brokers are also more professional than borrowers.
Unsure if you can trust a broker? All mortgage brokers must be certified and the industry is regulated, so you can rest assured that any legitimate specialist you speak with is well-versed in their field. They also have a duty of care to their customers, which means they’re on your side.
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When looking for a home loan, you should consider using a mortgage broker rather than a loan officer. A loan officer can only offer mortgage options from the financial institution for which they work, whereas a mortgage broker can connect you with a variety of lenders.

While mortgage brokers in Surrey work hard to find the perfect deal for their clients, loan officers only care about selling their financial institution’s options.

The amount of money you pay a mortgage broker will vary according to the type of loan you need. Depending on the type of mortgage fees may not apply.  

Some benefits of a mortgage broker include:

  • Extensive Lender Exposure: One of the primary advantages of working with a mortgage broker is the access to a wide range of lenders, mortgage products, and rates. Brokers have established connections and relationships with various financial institutions, allowing them to present borrowers with a comprehensive selection of options. This exposure increases the chances of finding a mortgage solution that aligns with the borrower’s specific needs and preferences.
  • Credit Report Efficiency: When comparing mortgage rates, borrowers often have their credit reports pulled by multiple lenders, which can negatively impact their credit score. However, with a mortgage broker, the rate comparison process becomes more efficient. Brokers can gather multiple quotes without the need for each lender to pull the borrower’s credit report individually, minimizing potential credit score fluctuations.
  • Negotiation and Volume Discounts: Mortgage brokers possess the expertise and experience to negotiate on behalf of their clients. They can leverage their knowledge of the industry and their relationships with lenders to secure competitive rates and favorable terms. Additionally, brokers often have access to volume discounts due to the significant amount of business they bring to lenders. These discounts can be passed on to borrowers, potentially resulting in cost savings.
  • Convenient Meeting Hours: Unlike traditional bank hours, mortgage brokers often operate outside of regular business hours. This flexibility allows borrowers to schedule meetings at more convenient times, accommodating their work and personal commitments. This accessibility ensures that borrowers have ample opportunity to discuss their mortgage needs and receive personalized guidance without disrupting their daily routines.
  • Extensive Industry Knowledge: Mortgage brokers possess in-depth knowledge of the mortgage market and are not limited to products from a single lender. They stay up-to-date with industry trends, lending criteria, and regulations. This expertise enables brokers to provide valuable insights, advice, and recommendations tailored to each borrower’s unique situation, increasing the likelihood of finding the most suitable mortgage solution.
  • Cost-Free Service: Typically, mortgage brokers are compensated by the lender that provides the mortgage, making their service free for borrowers. This means borrowers can benefit from the expertise and support of a mortgage broker without incurring any additional costs.

To ascertain the legitimacy of a mortgage broker in Surrey, several factors can provide valuable insights. One crucial indicator is whether the broker is a member of the Mortgage Brokers Association of BC. This association serves as a representative body for its members, advocating for their interests in local matters at the provincial level and facilitating communication with licensing bodies, regulators, and agencies. Being affiliated with this reputable organization demonstrates the broker’s commitment to professional standards and compliance.

The Mortgage Brokers Association of BC also plays a pivotal role in ensuring the competence of its members. They offer licensing and continuing education courses, equipping brokers with the necessary knowledge and skills to navigate the complex mortgage industry effectively. By meeting the qualification requirements and adhering to the professional and ethical standards outlined by the association, mortgage brokers in Surrey who are members demonstrate their commitment to providing reliable and trustworthy services.

The commission structure of mortgage brokers can vary, with the lender typically being responsible for paying this fee. The commission is typically a percentage of the loan principal and can range from  1 percent to 4  percent. 

There are instances where a broker may charge the borrower for their services. ITo avoid any surprises, it’s advisable to discuss the fee structure with the broker upfront and clarify any potential costs that the borrower may be responsible for paying.

By having a clear understanding of the fee structure and any potential charges, borrowers can make informed decisions when selecting a mortgage broker. Transparency regarding fees is crucial for borrowers to assess the overall cost of their loan and evaluate the value provided by the broker’s services.

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