Broker VS Bank with Tammy Wandzura

Broker VS Bank

When it comes to securing a mortgage, you might be torn between going directly to a bank or employing the services of a mortgage broker. Here’s a clear comparison to help you make an informed decision:

Mortgage Broker:

  1. Transparent Fees: You won’t be charged directly. The lender pays the broker’s fee, ensuring no hidden costs for you.
  2. Highly Regulated and Licensed: Your mortgage broker is licensed, and although not required, Tammy’s administrative team is also fully licensed, completing regular reoccurring training and ensuring expertise and accountability.
  3. Your Interests First: Mandated by the FCAA to act in your best interests. Their primary goal is to find the best match for your financial needs.
  4. Broad Product Range: They don’t represent a single institution. Instead, they have access to multiple lenders, giving you a variety of options.
  5. Negotiation Experts: They use their extensive knowledge and relationships to get you the best rate and terms possible.
  6. Flexible Hours: Available during regular business hours and also during evenings and weekends for your convenience.
  7. Long-Term Partnership: From application to term renewal, they’re with you every step of the way, assisting you in making informed decisions.


  1. Limited Product Range: Can only offer products specific to that institution, limiting your options.
  2. Self-Negotiation: Typically, the onus is on you to negotiate your mortgage terms and rate.
  3. Rate of Pay: In-house mortgage specialists might be less incentivized to get you the best rate since their pay could decrease with larger discounts.
  4. No Strict Licensing: While banks provide internal training, they don’t have provincially mandated licensing or continuous education requirements.
  5. Staff Turnover: Your main point of contact might change throughout your mortgage’s life, lacking continuity.
  6. Constrained Hours: Typically, they operate during traditional banking hours, which might not always be convenient for you.
  • Professional, easy, and stress-free service.

    We are very satisfied with Tammy’s service, it was professional, easy and stress free. I would highly recommend Tammy and her team.

    Y. Zhou

  • Questions?

    Get help with Broker VS Bank today

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