Q. Why should I use a Mortgage Broker rather than my bank? A. A Mortgage Broker can offer you more choice, as we work with over 20 different lenders to source the best deal for each individual client. At Beyer Mortgage Services we also pride ourselves on our great customer service, both during and after the financing process. We like to think of it as the human touch. Q. What will it cost me if I use a Mortgage Broker? A. In the majority of cases there is no fee charged to the client, as we receive a commission payment from the lender that we place your mortgage with. Only in exceptional cases, such as construction mortgages and second mortgages, would the client be asked for payment for the arrangement of financing. Q. Have I heard of the lenders that you work with? A. Definitely! Your current bank may even be among our list of lenders. You can check out the Our Lender section of this web site for a complete list, but they include: Bank of Montreal, Coast Capital Savings Credit Union, HSBC, MCAP, Scotia Bank, TD/Canada Trust, and many more. Q. Do Mortgage Brokers have to be licensed? A. All of our brokers are licensed through The Ministry of Finance, which regulates the mortgage broker industry. We are also members of the Mortgage Brokers Association of British Columbia, a non-profit organization dedicated to maintaining a high standard of business practices and ethics in the industry. Q. Do I have to be a first-time buyer to use your services? A. We are happy to provide home financing in a variety of situations. Whether you are a first-time home buyer, want to re-finance your mortgage to pay for home renovations, or just wish to renew your mortgage early to take advantage of lower interest rates, we can help you. Q. Since you are based in British Columbia, does your service only apply to residents of that province? A. We can arrange mortgage financing for properties anywhere in Canada. With the advances in technology we often never meet our clients, but communicate via phone, email and fax. Whether business takes place face to face, or through long-distance phone calls, we are still able to give exceptional customer service, as our Testimonials section will attest to. Q. If I am looking to purchase a home, should I get pre-approved before I find the right property? A. That is a very good idea. If you are pre-approved for a mortgage, you will have a preliminary approval of your application up to a maximum amount at a fixed rate. You will then know how much you can afford to spend on your home, and what your monthly payments are likely to be. The rate is fixed for a certain period which means that if rates go up during that period, you keep your fixed rate, but if they go down before your purchase is finalized, you get the lower rate.