Help me find the formal procedures to avail a home equity mortgage...

Hi friends,

I'm Denise Whitty from Edmonton in Alberta. I have been working as a Nursing Assistant for the last three years. I’m staying at a rented apartment with parents. We are planning to buy a new condo nearby my workplace.

I have approached different lenders to compare the interest rates. But, I find it a difficult task. My friends suggested seeking the help of any mortgage broker to find lowest rates. Is it a right decision to take the help of a mortgage broker? I think they would provide mortgages with the lowest interest rate in the market, and strive to ensure maximum flexibility within the package. I have searched on the internet and found a few mortgage brokers offering the best renewal rates in Alberta . What are the formal procedures to avail a home equity mortgage from a broker? Please help. Thank you in advance!