Top Five Things To Look For When Hiring A Mortgage Broker
If you’re planning to buy a house but can’t seem to wrap your head around how to obtain a mortgage, know that you are not alone. Obtaining the right mortgage is a difficult task and involves several complicated steps such as pre-approval, house shopping, loan application, loan processing, loan underwriting, and finally the closing process. Instead of being overwhelmed by what has to be done, hire a mortgage consultant to do it all for you.
A mortgage broker acts as the middleman who brokers mortgage loans on behalf of individuals or businesses. They then look to receive the funds from banks or direct lenders willing to provide the individual or institution with their loan requirements. They know where the best rates can be found, and have the knowledge required to present a proposal for financing to lenders in the best way possible to successfully obtain mortgage financing. Mortgage brokers in Canada are paid by the lender and most often do not charge fees for good credit applications.
If you’re looking for a mortgage broker to assist you in getting your hands on a loan to turn your dream of homeownership into reality, here’s a list of the top five things to look for in a mortgage professional.
1. Hard working.
Make sure you find a hardworking mortgage broker who would push themselves to find you a better deal, no matter how good the first couple of deals were. They should also be willing to go the extra mile to assist with documentation and other formalities that they might have to handle to get the loan.
Honesty is a trait that is a lot easier spoken about than actually found. Finding an honest broker means you will not be tricked or have to think twice before settling on the fine print. If you are told that you are looking at the best deal available, you can be sure that your mortgage broker looked everywhere else before asking you to settle on the deal shown to you.
For someone who is busy with their work, it might not always be easy to schedule meetings with the mortgage broker during work hours. Finding a mortgage broker who would be willing to meet outside the office timings, or workspace, would definitely help. Furthermore, you can never be sure whether the deal you have is actually the best one out there, so finding a broker who can be convinced that the deal is the best out there, but is willing to make another agreement if a better one comes along, is the mortgage broker you should settle for.
4. Willing to adapt to changes.
As the saying goes, you don’t know what you don’t know. Sometimes some changes are unexpected, and they pop up out of the blue. Mortgage brokers should be more than happy to adapt and assist in any way that they can. Furthermore, the process is also something that keeps changing, so finding a mortgage broker who keeps with the times is definitely an advantage.
5. Open to new ideas.
Ideas aren’t constant and having an interesting one could even help save a lot of money when finding the best deal. If the mortgage broker is open to new ideas, working with them is fun, otherwise, you would continuously be dreading it and thinking about finding a new mortgage broker.
If you’re looking for a Mortgage Professional in Surrey, BC, reach out to Tony Hundal at the Axis Mortgage Corp. We provide clients with private, residential, commercial mortgage services as well as debt consolidation, mortgage pre-approvals, first time home buyer mortgage, investment property mortgage services in areas across Surrey, White Rock, Langley, Abbotsford, Burnaby, Vancouver, Richmond, Delta, Chilliwack. We have more than twenty-five years of banking experience among Canada’s top banking institutions. To learn about the services we offer, please click here. To get in touch with us, please click here.