Finding the best mortgage deal in Canada requires comparing rates, terms, and lender options. A mortgage broker simplifies this process by accessing different lenders such as major banks, credit unions, and private lenders. Instead of shopping around yourself, a broker secures the most competitive mortgage rates and terms tailored to your financial goals—at no cost to you.

In Canada, mortgage broker services are typically free for borrowers. Mortgage brokers are paid by lenders through commission, meaning you get expert advice, rate comparisons, and mortgage solutions at no additional cost. In some cases, private or specialized mortgage solutions may include a small fee, but this is always disclosed upfront.

Mortgage brokers offer more flexibility and options than banks. While banks only provide their mortgage rates, a broker works with multiple lenders to secure the lowest rates and best terms for your needs. Brokers can also negotiate on your behalf and help you access special lender programs, first-time homebuyer incentives, and better mortgage renewal rates.

No, working with a mortgage broker saves you money. Because brokers have access to wholesale mortgage rates, they often secure lower rates than borrowers would get directly from a bank.