Who has ever gotten better rates with big banks than non-bank lenders via broker? You? What did you get?skunkyjosh wrote: ↑ RFD is pro Tangerine & pro non-bank lenders. Fact is you can get same or better rates from the big banks depending of who you are and what are your assets with the financial institution. There's a myth where people claim that non-bank lenders offer a better package and better rates, don't be fooled... if you pay less you get less. Just do your own researches and then make your own conclusion on where to get your mortgage. Don't let them troll you.
I did my research and made my decision last year. Non-bank please thank you. Rates are significant better with same/similar terms, and all done online & phone. I went to a few bank branches to try to get some quotes.... long wait times, representatives taking their sweet little time to do anything, asking lots of info & documents from us before mentioning what rates were available (one had to wait a week before calling us back about the rates!), yet some had difficulty answering our simple questions like what to do with my wife income estimate coming off met leave, .... and then the rates offered were crap.
I spent less than setting up my whole real mortgage with the non-bank lender via a broker, than trying to get a couple of quotes from the big banks.