Busted! Don’t Believe These Mortgage Myths!

Purchasing a home is one of the biggest and most potentially rewarding decisions you will make in your lifetime. And if you’re on the cusp of making that home-buying dream come true, hiring a mortgage broker should be on top of your mind. These professionals will help you interpret complex mortgage jargon, which can save you a lot of time, money, and hassle. Moreover, they will walk you through each step of your home buying journey and ensure your mortgage-related doubts and questions are addressed and answered.

However, there are a whole lot of mortgage myths and misconceptions that can affect your mortgage acquisition and, in turn, your home-buying plans. Furthermore, these false facts and incorrect assumptions could hold you back from acquiring the perfect mortgage deal. To help you steer clear of the misconceptions, Shahab Shahisavandi, a mortgage agent for Dominion Lending Centres Edge Financial, has debunked three of the most widely believed myths about mortgages.

Myth 1: I have to pay a mortgage broker
In almost all cases, mortgage broker services have no cost to borrowers. Only in some complex cases requiring an extended set of services might you encounter a minimal charge.

Myth 2: Banks have the best rates
In Canada, we have about twenty A lenders, but we also have almost countless alternative lenders who are not necessarily listed as a bank; B Lender, mono-line, etc. These lenders are actively competing in this industry, trying to grasp a market share through their connection with brokers. Working with a professional mortgage broker will help you extend your mortgage choices.

Myth 3: Bad credit score means I can’t get a mortgage
This myth has stopped many Canadians from pursuing their goal by simply not even consulting with a mortgage broker. It’s inevitable that a good credit score will leave you with more options and has its own advantages. But it’s everyone’s right to turn their life around once they make a decision and are putting their utmost effort toward achieving their home-buying goals. A mortgage professional can help you explore possible options and gradually work toward your life goals.

If you’re looking to steer clear of more myths like these, reach out to Shahab Shahisavandi, a mortgage agent for Dominion Lending Centres Edge Financial. As a top mortgage broker in Thornhill and Toronto, I can help ease the mortgage process and assist you in finding the right mortgage deal for your needs. I offer top-of-the-line mortgage services, including mortgages, commercial mortgages and leasing, construction mortgages, and credit repair. My mortgage services are available to clients across the Ontario region, including Thornhill, Toronto, Hamilton, Mississauga, Vaughan, Markham, Oshawa, and the surrounding areas.

For a complete list of my services, please click here. If you have any questions about mortgages, I’d love to hear from you. Please contact me here.