When it comes to getting a mortgage, most people assume the bank is their only option. But working with a mortgage broker can open up a lot more doors — and potentially save you thousands. Here’s how the two compare:

1. More Options, Not Just One
Banks can only offer you their own mortgage products. A broker, on the other hand, works with dozens of lenders — including big banks, credit unions, and specialty lenders — to find the best rate and terms for your specific situation.

2. You’re Not Just a Number
With a bank, you might be treated like another file in the stack. A good broker takes time to understand your goals, explain your options clearly, and make sure everything runs smoothly from pre-approval to closing. You get personalized service, not a one-size-fits-all approach.

3. Better Chances of Approval
Got a unique income situation? Self-employed? New to Canada? Past credit issues? While banks can be strict, brokers know which lenders are flexible — and how to present your application to get a “yes” instead of a decline.

4. No Cost to You (In Most Cases)
Most residential mortgages arranged through a broker don’t cost the client anything. We’re paid by the lender after your mortgage funds. You get expert advice and support — without paying out of pocket.

5. We’re on Your Side
A bank rep works for the bank. A broker works for you. Our job is to get you the best mortgage, not to push a product. That means honest advice, transparent communication, and someone in your corner the whole way.

If you’re shopping for a mortgage, it’s worth having a quick conversation with a broker first — even if you’ve already spoken with your bank. You might be surprised at what else is out there.