Mortgage
 

Is it always best to get mortgage from your daily use bank? For better chance of approval or search for best rate with least chance of approval?

best to go with a mortgage broker - they can get you better rates because of the volume.

also best to get a pre-approval from your bank and use that to shop around; doing so you can tell the other guys what you are 'pre approved' for so they dont have to do a credit check.


TIP: You should really use google and learn the basics. From this thread and your previous "should I sell my bonds" thread you don't seem to be very versed in personal finance. The key to not being ripped off is to make it seem as if you know what you are talking about even if it's knowledge acquired through google/reading websites. It's good to ask questions on a forum, but if you ask noob questions you will get noob answers. just my thoughts - feel free to disagree.

Thank you so much.

Mortgage broker would be like sutton or remax and stuff like that right?

they're real estate agents.

mortgage broker - dominion lending center (i only know of that one due to don cherry)

I used this site as a basis when I started...it is always updated and gives a close estimate on how you will pay

Best 5-Year Fixed Mortgage Rates - Compare Today's Current 5-Year Fixed Rates - 2.99%

I went with one bank (the bank I do everything with) but from what I was told it is better to do a broker

I got my mortgage with another bank (BMO, RBC is my everyday banking) to keep my money spendings in check.

If you need someone, let me know. I have a few from BMO that I know personally and professionally that could help you out. Also, if you're in the medical field you also get a preferred rate.

Long story short..

A few years ago I was looking to buy my first place. I spoke to my bank for a pre-approval, and to see what kind of rate I'd get. At the time they offered me a 5 year fixed at 4.01%

Two weeks later I found a place, and spoke to a broker. He found me 3.49% for 5 years from a lender back east. He contacted my bank, and asked if they were willing to keep me as a customer, and match the lender. Sure enough they did, and I was able to keep my mortgage at my personal bank.

let me know if you still need help with mortgage!

im in very good terms with the daughter of the original of dominion lending personnel who brought it here in bc, and shes working as a mortgage professional.

also, im working with another mortgage broker that has a very interesting trick with keeping in track with your mortgage
-pm me if u want