Finder Financial Service mortgage

[rossbertoloni]

Hi
Anybody has had experience with Finder Financial Service mortgage and nofrill mortgage?

Thanks
Ross

[Forum Admin]

Hi rossbertoloni,

Many thanks for your post and contribution to the RateSupermarket.ca forums.

I thought I'd just let you know that we've had many customers that have secured their mortgage through Finder Financial and were happy with their service. They are a virtual mortgage broking company, meaning that you deal with them mainly over the phone and by fax.

Regarding the no-frills mortgage their offer, I'm not a broker and can't provide any advice on it specifically, but as the name suggests, I believe in order to get a better rate, some of the typical product features such as prepayment options, portability etc may not be available on that product.

If you're speaking to them, just ask them about the product features and they will take you through the pros and cons of the no-frills product to see if it's right for you.

I hope that helps.

Regards,

Kelvin

[Mortgage_shopper]

I called finders financial services about a month and a half ago to inquire about their mortgage products as they seem to have the best rates in the market today.

I did not feel very comfortable that they are virtual broker - the people I talked to did not sound very professional. The rate they offer is great but it kind of makes you wonder about who their lenders are, are the rates for real, is there any catch, etc.?

The other thing that bothers me a bit about them is that all their rates seem to be part of some special deal setup with Sutton mortgage program. When I inquired about the period for which they can hold the rate, I didn't get a very clear reply...

I am currently shopping for mortgage as my mortgage is due in a month and find that valueland offers the same 5 year fixed rate as finders. HSBC has the best 5 year variable rate from what I see and they are also very professional from what I can tell based on my conversation...

Hope this helps.

[syoung]

Mortgage Shopper,

I'm sorry you had such a bad experience dealing with Finders Financial but I can definitely tell you that not all their agents are that way. I'm an agent with Finders Financial and the rate they do have a program with Sutton Real Estate Agents as well as one with their Mortgage Agents. The rates are real and they are backed by a large Financial Institute and an Insurance Company. The No Frills Fixed rate currently available has prepayment options of 5/5 and the variable rate is 15/15. If you any question feel free to contact me.

[JaneEyre]

Thanks for sharing your idea here. I appreciate your idea, very excellent.

simulationcredit

[D.Paple]

A comment on brokers vs direct lenders.
In every business I know of other than the financial industry - the closer you get to the source the better the price and/or program.

It is simply not true in the mortgage industry.