Mortgage brokers get recommendations through family and friends become the main source. brokers continue to be the most widely used source for first-time home buyers (45%) and home buyers (33%). As of 2009, the highest use of mortgage brokers in Western Canada: 53% of buyers in British Columbia and 41% of buyers living in Prairies asked brokers to negotiate their mortgages. Overall, respondents who requested brokerage services for their latest mortgage loan had a positive attitude toward them: about eight out of ten respondents believe that brokers take the time to fully understand their situation. and their mortgage needs. According to the borrower, the mortgage broker can get the best or best rate and save time. Family and friends are the main source of recommendations for brokers (36%). It shows the role played by family and friends of clients as a source of recommendations and the importance of word of mouth. The study also shows that the internet has become an important source for first time home buyers, with 89% of them have been searching online for mortgage lending information, while 84% of them have done so. research on mortgage terms and conditions before selecting options.
In addition, more than two-thirds (69%) of first-time home buyers use online calculators to compare options when looking for a home. As a result, 85% of first-time home buyers say they have a good idea of how much mortgage they can afford. According to the survey, 81% of recent buyers indicate that their current mortgage debt is not a problem for them. More than two-thirds (68%) of recent home buyers expect to pay back their mortgages sooner than expected, and more than a quarter (27%) have taken steps to reduce their mortgages by paying lump sum payments or by increasing their regular payments. The online survey of over 2,500 so-called mortgage asset users contains a series of questions designed to assess the attitudes and feelings of recent mortgage borrowers in Canada. Surveys were conducted since 1999. For full details of the 2010 Survey between CMHC borrower mortgages