- Adela Clement-Allen
WHAT TO LOOK FOR IN A MORTGAGE BROKER
Looking for a mortgage can be a confusing and nerve-racking experience for any homebuyer. While there are alternative ways to get a mortgage, the only way to get the best deal on your home purchase is by working with a mortgage broker. They compare rates with different lenders and secure a mortgage solution that is ideal for your financial situation.
As real estate financing professionals, they are up to date with the latest mortgage regulations and trends and ensure you meet minimum standards. However, with the number of mortgage brokers out there, choosing one that understands your needs is essential.
To help you find a professional that is easy to work with, and holds your best interests at heart, here’s a list of five things to look for when hiring a mortgage broker.
1. Experience
The mortgage lending platform changes often. Therefore, it is vital to look for a mortgage broker that does large volume. This means the broker will have adequate experience to identify ways to get you approved and they can often get you better rates due to the long-standing relationship with lenders.
2. Multiple lenders
To receive unbiased mortgage advice, be sure your mortgage broker has access to more than just a handful of lenders. This will enable them to find the right mortgage product for your needs and budget.
3. Full-time
A part-time mortgage broker is looking to make a side income, while full-time brokers see themselves in the industry for the long term. You can rest assure that their expertise and professionalism will be there for you now and in the future.
4. Quality team
If you work with a “one man/woman show,” there will be a time when a phone call, a meeting, a holiday will come between you and getting your mortgage completed in a timely fashion. If your mortgage broker does not have a reliable team to contact when they are unavailable, you could be setting yourself up for a lot of unnecessary stress.
5. A partner
A mortgage is likely one of the biggest decisions you will ever make, which is why working with a mortgage broker who does not make you feel rushed or pressured is of utmost importance. Search for someone that is also well-informed and can make you feel comfortable throughout the process. They should ultimately help you achieve your homeownership dreams with the least amount of stress possible. If you are looking for an experienced mortgage broker in Red Deer, Alberta, reach out tot
Adela Clement Allen of the Regional Mortgage Group. As a licensed mortgage professional with over ten years of experience, I can support and educate you throughout the mortgage process to save you time and money.I have access to Canada’s top lending institutions, and can confidently tailor fit mortgages specifically for your situation.