Busted! Don’t Believe This Mortgage Myth!

Author: Nola Stairs | | Categories: First Mortgage , Line of Credit , Mortgage Agent , Mortgage Broker , Mortgage Renewal , Private Mortgages , Real Estate , Real Estate Purchase , Real Estate Sales , Realtor , Residential Real Estate , Reverse Mortgages , Second Mortgage


While the mortgage process is notorious for its intricacies and complexities, hiring the services of a mortgage broker could ease the process out. A mortgage broker takes care of the entire mortgage process by making an application, submitting relevant documents, and helping the mortgage seeker find a deal that meets their individual borrowing needs.

However, considering the nature of the mortgage process, it’s no surprise that there are several unfounded myths associated with the role of mortgage brokers. Believing them and not seeking assistance from a broker could be one of the most expensive mistakes you could make. 

To help you avoid falling prey to these misconceptions and get through the mortgage process smoothly, Nola Stairs has debunked the most widely believed myth about mortgages.

Myth: Mortgage brokers charge exorbitant fees.

Truth: This is a perpetuating myth that discourages many mortgage seekers from working with a trusted mortgage broker. As a result, they lost out on some of the best mortgage deals. Mortgage brokers do not charge high fees. Most mortgage brokers are paid by the bank that does the mortgage in most circumstances, and there is no charge to the client. There are no hidden fees, and brokers give out expert advice and strive hard to get the very best rates for their clients. This myth exists because of the competition from other institutions and the fear of losing business. By believing this myth, a common mistake that customers make is not talking to a mortgage broker to get the facts. They rely on their family members and friends to guide them along the mortgage process, and often, information that comes from them is not right. On the other hand, with knowledge and experience on their side, mortgage professionals are happy to give guidance, ideas, and education to mortgage seekers, and there is no cost or obligation for this service.

If you’re looking to steer clear of this and other myths related to mortgages, reach out to me at Nola Stairs. As a licensed mortgage broker and realtor in Prince George, BC, I bring a copious amount of experience and vast knowledge to the table. I aim to help my clients find a mortgage solution with the best rates and terms for their situation. Whether you’re looking for a first mortgage, refinancing options, or line of credit, I can take care of your needs and offer guaranteed results. I extend my services to clients across Prince George, Quesnel, Vanderhoof, Mackenzie, McBride, and Tumbler Ridge, BC.

For a complete list of our services, please click here. If you have any questions about mortgages or the mortgage procedure, we’d love to hear from you, please contact us here

  • Mortgage Agent Prince George
  • Mortgage Agent Prince George