In almost all cases, it costs absolutely nothing to work with a Mortgage Broker. Don’t worry, we don’t starve to death! We are paid by the lender we place you with. However, it’s important to understand that all lenders pay us equally, meaning we have no bias toward one bank over another.

The only time you pay a Mortgage Broker is if you’re seeking alternative financing through a B-lender or private lender. This is simply because the bank doesn’t compensate us for those types of files.

We have access to a wide variety of lenders, including major banks like TD and Scotiabank, credit unions like Coast Capital, Vancity, and Prospera, and mortgage companies like First National, RFA, and MCAP, to name a few.

There are very few lenders you can’t access through a mortgage broker. If you can’t access a particular lender, you should question why. A lender that doesn’t want its clients to get independent advice may be hiding something. If their product were truly superior to their competitors, they should have no problem allowing mortgage brokers to advise clients on it.

Mortgage Brokers are independent and their own business, while Mortgage Specialists are employed by banks. If your mortgage advisor works for a specific bank, they’re not a broker but a specialist. Unlike brokers, specialists typically don’t have licensing or secondary education beyond the training provided by the bank.

Mortgage Brokers are fully licensed and required to complete a licensing course at UBC Sauder and continue their education with multiple credits each year.

It’s important to note that not all Mortgage Brokers are equal. Since all brokers are independent, the quality of service can vary significantly. We highly recommend checking out our client reviews before contacting us to ensure you’re making the right choice.

No, getting pre-approved will not have any impact on your credit score whatsoever.

When we do a pre-approval, we must pull your credit to review your credit standing and identify any potential red flags. Sometimes, you may believe your credit is good because you haven’t missed a payment, but in reality, it might be quite weak due to low credit limits or insufficient credit history. This is where our review can be very beneficial.

Many people worry that a credit check will damage their credit. However, Equifax assigns different pull codes to various industries. These pull codes help Equifax differentiate the purpose of credit pulls. As mortgage brokers, we only pull your credit once and use that same report with all the lenders we work with. If you were to visit multiple banks, they would each pull your credit, and multiple pulls in a short period can indeed harm your credit.

When you choose WhiteRidge, you choose to access a network of industry professionals, including our referral network of realtors, lawyers, notaries, home inspectors, appraisers, and more.

We also have a proven track record with past clients, with 70+ all 5-star reviews. We encourage you to read them for yourself.

We have extensive experience in all aspects of mortgages, ranging from standard purchase mortgages, refinances, and renewals to construction financing, reverse mortgages, and private lending. We’re mortgage nerds, and a mortgage nerd is what you want when you’re getting a mortgage