There is more to a mortgage than just the interest rate

As competition continues to heat up it is timely to remember that it is not just the best interest rate that determines the best mortgage option. Sure interest rate is important but we often get blinded by the rate with little or no understanding of what that might mean in real terms or savings.

Let’s understand that no Bank is created equal and there is often a variance in what one Bank might lend vs another to the same client.

More often than not we are dealing with Lenders’ whose primary business is to lend to home buyers. Of course they are all going to be competitive and the harsh reality is no single player can be the best all of the time. It is as simple as that.

If a borrower doesn’t understand what a difference in interest rate provides in real terms how can they possibly measure whether or not they are getting the best deal. In fact I challenge you to define the meaning of “best”. You can’t because it means something different to each individual.

The key is finding the solution that best meets a client’s needs and I suggest the only way that can happen is through working with a Mortgage Broker. Further more if you refer your client to any one other than a Pivotal broker then you are simply compromising your hard earned client relationship.

Talk to a Pivotal Financial Advisor today!

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Posted in Uncategorized on 9 Mar, 2018 | Comments Off on There is more to a mortgage than just the interest rate