Real Estate

Bank vs broker mortgage

  • Last Updated:
  • Jan 11th, 2020 8:13 pm
Jr. Member
Mar 31, 2015
121 posts
1 upvote
Cambridge

Bank vs broker mortgage

I have an approved bank mortgage at fixed 5year 2.94.

Contacted a broker who said their rate was fixed 5year 2.64.

Because I have an approved bank mortgage does that mean I am now tied to the bank? Any other things I should be asking to help me in my decision making of bank vs broker?
Closing isn't until Mar 31.


My mortgage has always been with the bank. For my first home we are currently with bank
but now that we are converting my first home to rental property and the second home to my primary we are in need of the new mortgage. We are still keeping the first home mortgage with the bank because renewal isn't until 2022 and my rate was good.
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