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:: Mortgage dictionary


Why use Hants Financial Services?

That's a good question, why should you use a mortgage brokerage service?

There are lots of choices and many people have a great relationship with their own lender. Basically the devil you know is better than the one you don't!

Most Canadians are presently dealing with one of the big banks, in many cases the same bank their parents dealt with. When that bank turns you down for a mortgage you assume you didn't qualify. That may not be the case; in actuality your application may not fit the criteria of that particular lender but would fit another lender's criteria.

Along with being licensed mortgage brokers we are also licensed appraisers and Real Estate brokers; we see the Real Estate industry from a more complete perspective than a traditional lender at a traditional bank.

The lender can only utilize the products and guidelines set out by his or her employer. Here is an interesting example:

One of the large banks will only do a residential mortgage on a house with one garage and a maximum of 5 acres.

If the property you are purchasing has a house, garage, small barn and 50 acres; that property does not fit that banks criteria.

That lender does not have the latitude or ability to finance that property. Your application is declined. Not because of you but because the property did not fit that particular lender's criteria.

Could we arrange financing on that property? The answer is yes. One of our lenders specializes in just that type of property.

We have over 40 lenders, all with different lending criteria, we match your circumstances up with the best lender for your particular circumstances or transaction.

Another important reason to use a mortgage brokerage service is that your credit worthiness is directly related to your Beacon score. Your Beacon score is determined by your past credit history.

Every time there is an inquiry about you your Beacon score is lowered, so each time you apply for a loan or mortgage your score goes down & your credit worthiness is affected! Most people do not realize this! By applying through Hants Financial Services we can shop the 40 lenders we use with only one credit inquiry! Thus maintaining a higher Beacon score and preserving that good credit rating you've worked so hard to establish.

Think about this! At mortgage renewal time lenders send you out a form to renew your mortgage at the existing posted rate. Most people just check the appropriate box and mail it back not knowing they could have shopped for a better rate or perhaps negotiated for a better rate.

1% on a $100,000 mortgage is $1,000; with a 5 year term that's a savings of $5,000 in interest over 5 years. At renewal time you can pay your mortgage off without penalty. It pays to shop!

Most lenders take your loyalty for granted and most won't offer their best rates unless they know they're competing.

Don't let your business be taken for granted! Give us a call at renewal time! 1-866-584-1444

Last but not least is service! Our mortgage representatives are real people who you can talk to if you have a problem. We can call you at home after work. At Hants Financial Services there is no such thing as 'banking hours'; our goal is to become your personal mortgage consultants. We all carry cellular phones and you can call us anytime including evenings and weekends. Also remember our service to you is FREE.

That's right, there is no cost to you; we are paid by the lender. How can you go wrong?

To Summarize:

  • The service is FREE.
  • Available evenings & weekends
  • Over 40 lenders to shop from (better chance of approval)
  • We protect your credit rating with only one credit inquiry
  • Better chance of a lower interest rate because lenders know they are competing.

In closing, even the banks realize the benefits and growing influence of mortgage brokers as our markets include Scotiabank, CIBC, TD Canada Trust, Bank of Montreal, ING, etc.

Contact Hants Financial Services now by applying online or feel free to call or toll free at 1-866-584-1444.

We look forward to hearing from you!

©2006 Hants Financial Services. All other trademarks and logos are property of their respective owners. All rights reserved.