Mortgage without job

[21singh]

You clearly had a bad mortgage broker.

Unfortunately I tried 3 Mortgage Brokers.

 

[canuck78]

Unfortunately I tried 3 Mortgage Brokers.

Your experience is unusual.

 

[21singh]

Your experience is unusual.

It was a learning for me at least.

 

[TDH Team]

Hi 21singh,
Sorry to hear your about negative experience with mortgage professionals, but I have to set straight some facts about mortgage brokers/agents:
1. A good broker/agent will always shop around between many lenders to get the best possible conditions for their client (rate and OTHER parameters). Accordingly the borrower won't be stuck with one bank's line of products or visit each bank to see what they could offer.
2. B Lender is an option if the specific circumstances of the borrower is not strong enough to qualify with an A Lender.
3. A Lenders (banks) always pay the mortgage brokers, so the broker does not need to charge their client for the service. Most B Lenders charge a lender fee and also pay the brokers/agents directly, so the broker/agent does not need to charge additional fees.

Hi,

This is not only my experience, indeed many have same experience.

1. What Mortgage Broker suggest is 6.5 Rate of Interest to me. I got at 2.75 from bank directly.
2. Mortgage Broker told me, I do not have too old Credit History, so I will not able to qualify for A Lender. I got from top 5 bank (A Lender).
3. Mortgage Broker charges which my friends have paid is 1% of the amount.

That's what I suggested to every one to go directly to bank & shop around, it is easy & convenient rather than going to Mortgage Broker & hitting the credit score.

Good Luck

I don't know what level of experience your mortgage agent had, but he/she was certainly didn't know too much about mortgage products and how to present it to get the best possible package for you.
Getting the mortgage agent license is not difficult at all and so many new agents complete their "on-the-job-training" with their unfortunate clients, rather than consulting their managers!
It ultimately comes down to interviewing the mortgage professional and make sure that you can get the best possible service. Exact same thing goes for your real estate agent, lawyer, doctor, etc.

 

[shibdutta]

Hi,

This is not only my experience, indeed many have same experience.

1. What Mortgage Broker suggest is 6.5 Rate of Interest to me. I got at 2.75 from bank directly.
2. Mortgage Broker told me, I do not have too old Credit History, so I will not able to qualify for A Lender. I got from top 5 bank (A Lender).
3. Mortgage Broker charges which my friends have paid is 1% of the amount.

That's what I suggested to every one to go directly to bank & shop around, it is easy & convenient rather than going to Mortgage Broker & hitting the credit score.

Good Luck

thats bad experience.

looks like you were victim of some scam in the name of Mortgage Broker. i used both banks directly and mortgage brokers in different situations. and i never had that kind of experience. and I used both of them many times.

for 1st time buyers with good paying job and good credit report, i would say, No need to go to a mortgage broker. your Bank may give you a good rate.

 

[KevinHill]

It seems to me that not every bank can take such a step as issuing mortgages to people who do not have official employment. But you still have a chance. In order to increase them even more, I can advise you an excellent financial advisor. Mortgage brokers tied to banks, of course, will not give you a chance to get a mortgage. Therefore, it is worth looking for an independent financial adviser using the Mortgage Advisor York service. I hope that this information will help you and you will be able to get a mortgage.

 

[steaky]

Pls kindly send me your phone number via email annyluxe@outlook.com I’ll be needing your services and assistance support thanks.

You replied to a four years old post and the poster has not been active for the past year. If you want accomodation (in Etobicoke) for the next months, perhaps you can contact the poster by phone below:

https://www.canadavisa.com/canada-immigration-discussion-board/threads/anybody-up-for-sharing-an-apartment-in-toronto-from-february-2024.828921/