Top Five Things To Look For When Hiring A Mortgage Broker
Qualifying for a mortgage is a crucial step towards achieving your homeownership goals. It opens up the possibilities of getting your mortgage approved and eventually buying your dream home. However, as mortgages are lined with intricate rules and regulations, it can be quite challenging to understand the process. To simplify the guidelines and increase your chances of approval, you need to enlist the service of a licensed mortgage agent. They will help you sail through the mortgage system and find the right product to suit your needs.
A mortgage agent will also provide you access to several lenders and an efficient mortgage plan. They will negotiate the best terms and rates on your behalf so that you’re stress-free and confident while choosing a mortgage. Unfortunately, with numerous options out there, it can be tricky to select an exceptional service expert. To help you make the right choice, here’s a list of the top five things to look for when hiring a mortgage broker.
Look for a mortgage broker who has ample experience and has worked with a wide variety of clients and situations. With sufficient experience, they will be better positioned to find you the right solutions that will fit your needs and requirements.
2. Transactions per year
A mortgage broker that provides evidence of the total amount of money they help lend to borrowers instills confidence in their ability to help you achieve your mortgage needs. An expert with high annual transactions will ensure satisfaction and dedication that meets your needs.
3. Type of lending
There are various types of mortgages available today, like first-time mortgages, refinancing, debt consolidation, etc, which are designed to meet specific housing and investment needs. Each mortgage broker specializes in only a few of these mortgages products and services. As a result, you need to inquire with your mortgage broker to check if they offer the product that you need.
As you look for a mortgage broker, don’t forget to ask how big or small a mortgage they can provide. Based on this information, you can decide if they will be able to help you or if you need to look for another broker.
5. Access to lenders
An agent who is well-established in the mortgage industry will be connected to several lenders and their broad range of mortgage products. With their resourcefulness, it will be easy for you to access different benefits like tailored mortgages, flexible terms, lower rates, and more.
If you’re looking for a mortgage broker, reach out to Jordan St Pierre - The Mortgage Centre. With many years of experience in the mortgage industry, I am focused on delivering a tailor-fit mortgage package to suit your unique needs. I will provide you with unbiased and honest mortgage advice to help you find the right mortgage for your homeownership dreams. My services include home purchase mortgages, first-time home buyer mortgages, mortgage pre-approvals, renewals, private mortgage financing, and home equity or refinancing.