A mortgage broker, also known as a mortgage agent or mortgage advisor, is an individual who helps people find the most suitable type of home loan for their needs and negotiates on their behalf with lenders in order to secure a better deal. In some cases, brokers do not charge fees but receive a commission from lenders for the loans they help to secure.
An online mortgage broker will assist you in finding the best mortgage deals to suit your needs. If you’re not sure what options are available, an online broker will compare rates and terms from various lenders across Canada to help you decide which loan is right for you. The broker will provide information such as different types of mortgages, what they cover, and their requirements, as well as how much money you will need and where to get it.