Monthly Archives: January 2019

toronto mortgage broker

Are you looking for a mortgage loan in Toronto? Well, chances are you’re flooded with relatives and co-workers advising you to go for either a Toronto mortgage broker or specialist.

Now, you might have thought that mortgage broker or specialist is the same, they both fix up mortgages. But, they are very different and in reality, these two subjects have a plethora of differences.

Today, this blog will help you understand the difference between a mortgage broker and specialists, and which to pick for assisting you in your Toronto mortgage loan.

Mortgage Broker vs. Bank Mortgage Specialist

mortgage broker in toronto

Mortgage broker:

The Mortgage broker is the intermediary or middleman that conjoins the mortgage lenders with the borrowers. He/she accesses the borrowers’ paperwork and delivers them to the lenders for pending approvals. The mortgage fund then collected is done in the name of the lender who pays the broker an origination fee for his service.

Basically, if you hire a Toronto mortgage broker, your agent will collect information like a credit report, income, asset and employment documentation etc. and determine your ability to finance the lender. He/she will then chalk out your loan type and amount and send it to the lender for approval.

Your mortgage broker moreover, will consult several lenders and work to find you the lowest mortgage rates and secure loan programs. This will undoubtedly save you tons of money and time as the broker has contacts with various lenders. What’s more? Your Toronto mortgage broker won’t press you for payments until your loan is sanctioned and closed.

Hence, not only will your broker work on more personal grounds, he/she will ensure that if one lender cancels the loan approval he will apply to another. Hence, in this way a broker is basically his own boss and provides you with assured ROI in consideration with the mortgage loan.

mortgage brokers

Mortgage Specialist:

Mortgage specialists are basically commercial bank loan officers that specialize in mortgage loans. These officers select the bank's mortgage offerings and help customers frame applications and walk them through the process. Based on the borrower’s financial status, these specialists select the applicable offerings of banks and present them to borrowers.

Convenience:

When it comes to convenience, picking a Toronto mortgage broker is more convenient rather than a specialist.  While a specialist will only offer you what his/her commercial bank offers, the broker can offer you the best loan deal with a minimum mortgage payment.

As the broker deals with innumerable lenders, he knows which lender to pick for supporting your mortgage loan depending upon your financial status. Additionally, at certain times, your financial status and credit reports might be lower than expected.

Your bank specialist will only, therefore, offer loan and mortgage options that are not profitable to your plan. However, the selected Toronto mortgage broker may have lots of contacts who are agreeing to work with you despite your financial conditions.

In this way, without excess interest rates, your mortgage broker will offer you the best deal.

Also, they work on a more personal level while the specialists paid by the banks are impersonal and only consider their noted profit.

So, now that you know the point of differences between the two, find yourself a reliable mortgage broker around town today and get the lowest interest with suitable deals.

Buying gold has been an irreplaceable tradition for many generations in India and abroad. Some buy gold for the sheer aesthetics and some buy for showcasing their regality or for gifting purpose. However with the advent of time, most people today are turning to buy gold coins for investment purposes.

The gold price which is most likely to increase with an astonishing pace in the years, to come is a source of good investment and sufficient profit. However, when it comes to these bullion coins, the tricky part is buying them.

With the growing number of scams in the market, along with unscrupulous dealers, it’s very easy to get swayed into buying fake gold coins. Hence, if you’re recently planning to buy these bullion coins, then here are valued tips to help you pick a genuine item.

gold Coins canada

Tip 1: Notice the Purity

Depending on the kind of gold you will be purchasing, it’s vital to ensure that you’re paying for the correct amount. Often unethical dealers falsely sell tarnished gold and charge a higher price. Hence, it’s vital to know the purity of gold. Measured per thousand grams in carats, the purest gold is 24 carat or 24 K.

So, as per the money paid, ask your seller to give gold coins which are marked. These products normally have engravings like 24K with numbers like 990 indicating fineness.

Tip 2: Go for Hallmarked Products

Hallmarking involves stamping or laser stretching the mark of purity on a gold item. Hence, when you buy gold products from a reputed seller, one that provides hallmarked products are likely to be more genuine.

Moreover, hallmarked products feature the year of hallmarking along with the identity of the jeweler, ensuring the credibility and genuineness of both the seller and product sold.

Tip 3: Coins to Eliminate Making Charges

The making charge levied on any jewelry depends on the time and amount of craftsmanship needed to manufacture the product. Now, this is why complicated handmade jewelry and intrinsic machine made jewelry are charged normally higher.

Henceforth, most people anyhow prefer to buy gold coins which are machine made as it eliminates the making price.  So, if you’re not buying for aesthetic purpose and simply wish to boost investment go for the machine printed.

Tip 4:  Be Vigilant of the Packaging

The packaging is an important factor to consider while buying gold products or coins. Ensure that the package you’re provided with is not tampered with. Also, notice the shine, weight, and body of the gold to look for signs of discoloration or other markings. For a more certain result, you can try the density, magnet and bite test to verify if you’re gold is authentic or not.

Tip 5: The Shop Matters

As mentioned, the frauds selling products in a digitalized world is plenty. So, instead of being swayed by offers, it’s best to buy authentic products from shops that have a good reputation. Check testimonial, go through credentials, and also look for hallmarking etc. to ensure that you are sold a genuine product.

gold coins

So, that’s about it! With these 5 tips rest assured that you will not be tricked into buying fake gold coins. Now, make the smart buy and enjoy a fruitful investment.