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Pursuant to Section 39(2) of the Freedom of Information and Protection of Privacy Act, you are hereby notified that personal information relating to you is being collected for the purposes of Mortgage/Loan registration and to contact you as required about your Mortgage & Financial Solutions. The legal authority for this collection is the Ultimate Mortgage and Finance Solutions Inc. about this collection should be addressed to: Freedom of Information Coordinator, Ultimate Mortgages, 1024 Kennedy Road Toronto, ON M1P 2K6. Office (416) 757-9937 Fax (416)757-9937. Brokerage Licence # 11995

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Frequently Questions

You Ask, We Answer

Why should I use a mortgage broker?

Mortgage brokers help you through each step of the financing process, from preapproval to closing the loan. Not only that, but a mortgage broker acts as a liaison between you and all the other professionals involved in the mortgage process

What is the purpose of a mortgage broker?

Opinions aside, a mortgage broker is essentially a middleman between the borrower/homeowner and the bank or mortgage lender. They work directly with both the consumer and the bank to help consumers qualify for a mortgage, whether it be a purchase mortgage or a refinance.

How does a mortgage broker get paid in Canada?

They charge a fee for their service, which is either paid by you, the borrower or the lender. The fee is a small percentage of the loan amount, generally between 1% and 2%. If you pay this fee, the dollar amount can either be added into the loan or paid up fron

Is it better to get a mortgage from a bank or broker?

Wholesale rates can actually be much cheaper than retail interest rates you'll get with banks, meaning a lower monthly mortgage payment. ... Of course, most borrowers will attempt to secure financing with their local bank or credit union before turning to a mortgage broker.