What does a mortgage broker do?

The main value proposition of a mortgage broker is to take your mortgage application and submit it to the mortgage lender on their network that can get you the best deal.

What does a mortgage broker literally do?

Provides you with mortgage related advice
Collects your written mortgage application
Collects your required documentation
Submits your mortgage application to various mortgage lenders
Facilitates any required third parties, such as appraisers and real estate lawyers.
Ensures your mortgage transaction goes smoothly.
Continually monitors your new mortgage for refinance opportunities that will save you money
Mortgage brokers wear quite a lot of hats during the transaction. They essentially act as your primary point of contact for all things mortgage. Even after you have your mortgage, they still remain your primary point of contact.

What does a mortgage broker do that a bank doesn't?

Brokers represent your financial interests, as well as the lender's (by acting as an intermediary). Bank mortgage professionals only represent the banks interests
Brokers are generally more flexible when it comes to qualifying you for a mortgage, as they have access to lenders with different qualifying criteria
Brokers have a much larger variety of mortgage products available.
Has access to and can submit your mortgage application to various lenders
Brokers have a much larger variety of mortgage products available.
Only needs to pull your credit bureau one time, even if submitting to multiple lenders
Will generally inform you with specifics on the reasons you did not qualify, and what to do to fix them
Will want to develop a strong and enduring professional relationship.
Will continually monitor your new mortgage for refinance opportunities that will save you money
Will generally be accessible even outside of typical 9-5 business hours

Is Houski a mortgage broker?

Yes. However we do not operate like a typical mortgage brokerage. We specialize in technology, and our goal is to make the mortgage application process as smooth and painless as possible.

What does Houski do that a typical mortgage broker doesn't?

Houski highly values ethics, and will always give homebuyers the best mortgage product for their situation, even if it makes us less money
With Houski, you can Property data and mortgages for cool people with virtually no in-person meetings
We analyze your banking history to preapprove you for a mortgage, so there's no damage to your credit rating
We automatically collect the documentation that is required for your mortgage, which saves you hours of time
We "buy down" your mortgage rate by reducing our own pay in order to get you the lowest possible rates
We make a donation on your behalf to help animals find homes too, and fight animal cruelty in Canada