When it comes time to purchase a new home, where should you go for financing? You may have a relationship with a bank from past transactions (RRSPs, savings accounts, car loan), so it's the first option that comes to mind. But, mortgage brokers are licensed specialists who have access to many lenders and mortgage rates, so they may be a better choice. Here are some pros and cons for each.
Advantages of Mortgage Brokers
Disadvantages of Mortgage Brokers
Advantages of Banks
Disadvantages of Banks