Busted! Don’t Believe These Mortgage Myths!

Author: Mortgage With Vadim | | Categories: Mortgage Agent , Mortgage Broker , Mortgage Expert , Mortgage Rates


For many reasons, certain myths related to mortgage brokers are floating in the market, which can prove dangerous if you do not know the entire truth. Mortgage brokers have been in the industry and understand the loopholes that cause many to lose their hard-earned money to giants. They use their years of experience to help their clients.

These myths are perpetuated by people who are unaware of the functioning of the mortgage sector. Not everyone is expected to understand the complex system that mortgage brokers have mastered owing to their profession. This lack of understanding can be harmful as it can lead people to make wrong decisions about their mortgages.

To help you steer clear of these misconceptions, Mortgage with Vadim has debunked some of the most widely believed myths about the screen and digital printing.

Myth 1: Banks are telling you the truth about mortgages
You are deceived if you think that banks are telling you the complete truth about mortgages. Banks earn interest on your mortgage, which becomes one of the sources of income for the bank. But, apart from mortgages, there are a lot of alternate lending channels from which you can borrow loans. For instance, you can always apply for mortgages, both from banks and other organizations, which can immediately resolve your financial assistance.

Myth 2: Mortgage brokers are trying to deceive you 
Mortgage brokers work to provide financial solutions in your best interest. We have actively engaged in years of research and practice to build an expertise that enables us to provide apt solutions for any financial troubles our clients face. If anything, we assist you in simplifying the entire mortgaging process, thereby saving your precious time and resources. 

Myth 3: Mortgage agents have universal solutions
It is an overestimation that mortgages are a universal solution to deal with any kind of financial situation. Many customers purchase goods or services without consulting with mortgage brokers about pre-approvals. Each situation requires unique solutions depending upon the clients’ income and liability. If clients waive their financing conditions and the banks do not approve them, the clients may lose the original deposit on the purchase, as well as face additional problems. Mortgage brokers should have all the relevant information, based on which they can guide you in your best interest and save you from any financial trouble.

For expert advice on your financial matters, reach out to us at Mortgage with Vadim

Our expertise lies in providing homeowners with the greatest mortgage purchase and refinancing options. We provide mortgage services across Vaughan, Toronto, Richmond Hill, Newmarket, Mississauga, Milton, North York, Etobicoke, Oakville, Kleinburg, Scarborough, East York, Markham, North Toronto and the surrounding area. 

For a complete list of our services, please click here. If you have any questions about Mortgage with Vadim, we’d love to hear from you, please contact us here