Twice this summer, I’ve watched buyers lose out, or almost lose out, on their dream homes. Not because of the house. Not because of the price. But because they weren’t working with the right mortgage broker.
Twice this summer, I’ve watched buyers lose out, or almost lose out, on their dream homes. Not because of the house. Not because of the price. But because they weren’t working with the right mortgage broker.
Now, you might be thinking: Does it really matter who handles the financing? The answer is a big YES. Getting pre-approved for a mortgage isn’t a simple “check the box” step. It’s a nuanced process, and the skill of the professional handling it can make or break a deal.
Here are two real situations that happened this summer: (note: I represented the seller in both of these examples, and therefore I wasn't able to guide the buyer)
Example #1: One buyer was told by their broker they’d need to go to a second-tier lender—meaning sky-high interest rates. This would have killed the purchase. But when I connected them with a trusted broker from my network, the reality was very different: a straightforward approval at a normal rate. The home closed, and the buyer saved thousands.
Example #2: Another buyer walked into a bank branch to “apply for a mortgage.” This is probably the least efficient path you can take. Branch staff can only offer limited options, and they don’t specialize in complicated transactions. A seasoned mortgage broker, on the other hand, knows how to navigate today’s market—especially with condos, where financing can get tricky.
The truth is, not all mortgage brokers are created equal. Just like realtors, they come with varying levels of training, experience, and problem-solving skills. In today’s financial climate, working with the right broker is often the difference between buying the home you love… or losing it entirely.
So if you’re thinking about buying, don’t just choose your real estate agent wisely—choose your mortgage broker with the same care. Because the wrong one could cost you the deal. If you are unsure what you should be looking for in a mortgage broker, please reach out. I would be happy to share the most important skill sets they should have.
Jen Dumitrescu isn’t your typical real estate agent—she’s a detail-loving professional who brings big energy, sharp strategy, and a whole lot of heart to the table. She's been helping Toronto buyers and sellers make confident moves since 2007.
jend.ca / jen@jend.ca / IG: jendumitrescu
If you are unclear about what you should be considering in your agent selection, I’ve put together a simple questionnaire that any seller can use when interviewing agents. It covers the questions most people don’t even think to ask—but should. For your free copy - just reach out. jen@jend.ca
TAGS: #Toronto Real Estate, #Mortgage Tips , #Home Buying Journey
#Broker Matters, #Smart Financing, #Real Estate Advice
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