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The 3 Best Mortgage Brokers In London, ON [2023]

If you’re looking to buy a home, it’s important to find the best mortgage brokers in London. A good mortgage broker can help you find the perfect home loan and make sure that all of your paperwork is completed correctly. They’ll also be there to answer any questions or provide advice during the process. 

There are many great mortgage brokers in London, so it can be hard to decide which one is right for you. That’s why we’ve compiled the list of the best ones in London. 

We chose these outstanding mortgage brokers based on their customer reviews, their expertise in mortgages, and their commitment to providing top-quality service.

And for other legal matters, you can check out our lists of the best DUI lawyers and the best insurance agencies in London.

What's the Average Cost of a Mortgage in London?

The average cost of a mortgage in London is around $1,000 – $1,200.

However, there are some factors that can affect the price, such as:

  • Type of mortgage: An open mortgage allows you to make large mortgage payments or pay off the entire mortgage without penalties. Closed mortgages typically have lower interest rates than open mortgages. However, closed term mortgages usually limit the amount of money you can put towards the mortgage each year.
  • The length of the mortgage: The average mortgage term in Canada is 5 years. Longer terms lower monthly payments because the loan repayment is spread over a longer period. However, this means that more interest will be paid over the life of the mortgage.
  • Amount of down payment: The bigger amount of money you put towards the price of a home, the less you will have to borrow.
  • Price of the house: Naturally, the more expensive the house, the more you will pay for the mortgage each month (depending on the length of the mortgage).
  • Type of interest: You may be offered a fixed interest rate that stays the same throughout the term, a variable interest rate (may increase and decrease over the term), a hybrid or combined interest rate (part of your mortgage has a fixed interest rate and the rest has a variable interest rate). Generally, the interest rate is lower with a variable interest rate than with a fixed interest rate.

Overall, it’s advisable to consider the factors affecting the price to choose the best option for you.

The Best Mortgage Brokers in London, ON

1) Mortgage Wise Financial

A group of qualified specialists working for Mortgage Wise Financial have your best interests in mind. They’ll make sure you’re making an appropriate decision when it comes to buying a house. They are knowledgeable about the significance of mortgage financing and can assist in guiding you through the procedure so that you can choose the best course of action for your family and yourself. 

The staff at Mortgage Wise Financial has more than 20 years of expertise in this area, so they are well aware of the best questions to ask and lenders to work with depending on your individual borrowing requirements. Along these, they are accessible around-the-clock if you have any additional queries or worries throughout this crucial procedure.

Even if you’re not familiar with mortgage details, they will make an effort to communicate clearly and succinctly, which makes dealing with them a simple procedure. They also take care to be considerate of each person’s requirements, making sure that everyone involved feels supported during the whole process. If you want to obtain a house loan without any hassles, go with Mortgage Wise Financial!

Business Information:

mortgagewisefinancial.com
+15194335013
259 Wellington Rd, London, ON N6C 4N7

Customer Review:
“So nice to have a lawyer who really seems to care for her clients. I was ready to be intimidated when I walked into her office to initiate a marriage separation, yet I found a lawyer who was not only knowledgeable and efficient, but kind and compassionate.. She listened to what I said and offered great advice. but ultimately let me make my own decisions. I would strongly recommend her for your family matters. My experience was top notch and I won't hesitate to employ her services again.”

Pros

Cons

2) iMortgageBroker Inc. - Dominion Lending Centres

Consumers may obtain the best products and pricing in Canada through Dominion Lending Centres. The business is committed to provide leading products and services that match or surpass consumer expectations. Dominion Loan Centres has over 20 years of expertise in the lending sector and is fully equipped to assist you in obtaining the finance you want. Additionally, the business offers a variety of credit choices so that regardless of your financial condition, you may discover a solution that works specifically for you.

Their crew is therefore composed of the most qualified experts in the field of mortgages. Their expertise is unmatched, which made the mortgage procedure simple and flexible for them. Many of their clientele continue to contact them whenever they have problems to fix and are never dissatisfied. 

Look no further than Dominion Lending Centres if you’re seeking a reliable lender with an immaculate track record!

Business Information:

imortgagebroker.ca
+15197779374
1 Commissioners Rd E Suite 109, London, ON N6C 5Z3

Customer Review:
“I have nothing but positive things to say about my experience with the Family Law Group. They were very professional and a very big help with my case. It's good to know that you have been heard and that the information is being used to help in obtaining a positive end result. I felt understood and they were able to share their knowledge. I 100% recommend this law firm for all your family needs.”

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3) Mortgage Teacher Ltd.

Mortgage Teacher Ltd. is more than simply a mortgage broker. They provide services beyond only assisting you in locating the cheapest mortgage rates and conditions. Plus, they educate you on all of your alternatives so that you may choose the one that is best for you. In particular, some of their services are free! 

They are therefore the best option for anyone seeking individualized guidance in selecting the best home loan arrangement for their requirements.

Additionally, you can count on them to be available at all times to answer any inquiries you may have. They are highly knowledgeable and always take the time to explain each step through the process, which helps to lessen the stress of the selling and purchasing processes. With this mortgage, you can be sure that you’re getting the greatest deal and making the right decision. 

Without a doubt, if you’re looking for a qualified mortgage team, get in touch with Mortgage Teacher Ltd.!

Business Information:

mortgageteacher.com
+12262892991
121 Oxford St E, London, ON N6A 1T4

Customer Review:
“Vallillee law office is the best law office I’ve been to. They are very high value. All their lawyers (especially Eric) are smart as a whip. They have a very strong handle on their firm and do not miss a beat! They are also respectful and very polite. Very very much recommend!!!”

Pros

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FAQs About Mortgage Brokers
There is no definitive answer, as the speed of a mortgage broker’s process can vary based on individual circumstances. However, many mortgage brokers pride themselves on being thorough and taking their time to ensure that all necessary paperwork is completed in an efficient manner.
While mortgage brokers may look at your credit score when you are looking to get a loan, it is not always the most important factor. Mortgage rates and terms vary based on many different factors, including your credit score.
Before going to a mortgage broker, you will need identification such as your driver’s license or state ID. You also may want to bring copies of all the documentation related to your loan application, including tax returns and recent bank statements.
A mortgage broker typically conducts a variety of checks on behalf of their clients, including credit reports, debt ratios and current liabilities.
Final Thoughts

London is a great place to live and work. It’s also an ideal city for starting or expanding your business. If you’re thinking of buying a property in the near future, it’s important to choose the right mortgage broker who can help you get the best deal possible. 

With so many options available, it can be difficult to know where to start. To make things easier, we’ve compiled a list of some of the best mortgage brokers in London that will surely have something to offer everyone.