Remax sarnia realty inc., Brokerage
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ON, N7S 3Y1

Ryan Gervais

Ryan is a full time Sales Representative with Re/max and look forward to being your guide to the Sarnia Real Estate market

How To Find A Home Mortgage Lender in Sarnia

1 Comment In Real Estate

Are you looking to finance a home loan?

When searching for a home loan, there are three providers which you can choose from — a bank, other lending institution or you may turn to a mortgage broker. Whichever provider you go with, the end result is the same – you get a new home!

Loan Officer

Loan officers are actually employees that work in a bank, a credit union or lending institution who work to sell and process mortgages and other loans. They offer a wide selection of loan types, but all originate from that specific lender. Typically, the job of the loan officer is to take care of the client’s application and look for a specific loan product that would best fit their client’s needs. Once the client get credit approval, the loan officer will then start with the processing of the home purchase transaction.

Mortage Broker

On the other hand, mortgage brokers are people who pair up lenders and borrowers. They are freelance agents, usually working with many different lenders. Mortgage brokers are the scouts of the mortgage industry since they are the ones that search and evaluate home buyers. They also analyze a client’s credit situation in order to find the best lender for that client. An expert mortgage broker is capable of finding various types of lenders to suit diverse types of credit.

A mortgage broker earns by securing a client’s loan and is paid according to the quality of the transaction. For your protection, as the client, it would be best not to suggest an interest rate, but rather wait for your mortgage broker to tell you what terms they can secure. You can then shop around to make sure that the terms your mortgage broker have given you are reasonable. Also, try to be cautious when searching for mortgages advertised online since most of them are owned by mortgage brokers.

A big advantage of hiring an online mortgage broker is that you make yourself available to lenders in other parts of the country who may have better rates than the ones here in Sarnia. However, the downside to this is most out of town lenders won’t be familiar with the peculiarities of Sarnia: local heating systems and septic systems, for example, or the jargon and classifications used by the appraisers here in town. All the above mentioned slows down loans made by an out of town lender.

Local Bank

Local banks are the most common mortgage lenders but not always the preferred choice. They have underwriters that basically understand our local properties. Another benefit is that they will not cause any delay on the processing of loan. Moreover, banks are always much better and faster in closing loans than any mortgage broker working with a lender. However, this is not generally applicable to all banks since there are some banks that really take a long time to process loans. On the other hand, mortgage brokers are capable of finding lenders who will grant loans that a bank would deny, which is especially ideal if you have bad credit.

If you’re looking to buy, please have a look at our Sarnia MLS listings.

As always, if you have any questions about Sarnia real estate, please contact Ryan Gervais at (519) 542 9999 or email me at

Ryan Gervais

Ryan Gervais is a full time multi-award winning agent who is here to help you through your real estate journey. Ryan's main passion is to protect his clients greatest investment by making sure you buy a great house for a fair price. Reach out today and see for yourself the difference a great agent can make.

(519) 381-4055

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