Best Mortgage Broker Rates In Winnipeg
Mortgage brokers offer better rates than the big banks. Find the broker in Winnipeg with the best mortgage rates.
Winnipeg Mortgage Brokers and Agents
To secure the best mortgage rates in Winnipeg, contact a mortgage broker or agent in your area. Using a local broker gives you the ability to meet in-person to discuss your needs and concerns and gives you access to the best mortgage rates offered by banks and lenders across Canada.
Best fixed rates
5.34%
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Reasons to Use a Mortgage Broker
Using a local mortgage broker provides you with many benefits, some of them are:
- increased access to lenders, mortgage products and rates
- ability to compare mortgage rates without having your credit report being pulled multiple times (if you conducted your own comparison shopping, your credit report would be pulled once by each of the lenders you go to)
- the mortgage broker can negotiate on your behalf and pass on some of their volume discounts to you
- larger timeframe to meet with your broker in-person as mortgage brokers usually have extended hours, outside of the typical bank business hours
- mortgage brokers are a great source for industry knowledge as they are not limited to products from one lender
- free service, as mortgage brokers are paid by the lender that provides your mortgage
Mortgage Broker Association
Since provincial associations are not required, many mortgage brokers in Winnipeg belong to Mortgage Professionals Canada (formerly CAAMP). Mortgage Professionals Canada is a national mortgage broker industry association which ensures ethical and professional standards are maintained.
Mortgage Broker Licensing in Manitoba
To conduct business as a mortgage broker in Manitoba you must register with the Manitoba Securities Commission. The Manitoba Securities Commission administers the Mortgage Brokers Act and the Real Estate Brokers Act to protect borrowers and individuals buying or selling their home.
Other Professionals
When purchasing a new home or property you will come in contact with multiple professionals who aid in purchasing a home. The main individuals you will come in contact with are:
- Realtors—Realtors help you find the right property and negotiate with the seller on your behalf by accessing home sales data. Realtors are overseen by the Manitoba Securities Commission with many belonging to the Manitoba Real Estate Association (MREA). The MREA provides education, professional standards and advocacy for Manitoba’s real estate industry.
- Home Inspectors—Provide home inspections to determine the condition of the property. A home inspection will help you to determine the expected maintenance and repairs required. To be a licensed home inspector in Saskatchewan you must meet the requirements laid out by CAHPI Saskatchewan (Canadian Association of Home & Property Inspectors).
- Real Estate Lawyers—Executes all legal documents such as a purchase agreement and mortgage agreement, and ensures your rights as a buyer are upheld.