Finding A Mortgage Broker

Closing_Costs_Understanding_What_It_Costs_to_Close_on_a_Home_and_What_You_Can_Expect_to_Pay

If you are in the market for a new home, or looking to refinance your existing mortgage, then you will want to consider the option of hiring a mortgage broker rather than an individual lender or lending institution.

With times being as tough as they are for so many people, and the instability of the financial markets, shopping around for the best deal in a mortgage is of vital importance. A mortgage broker is a one-stop mortgage option that can save you time, and most importantly, money. Here are just a few reasons you should consider a mortgage broker.

Who Are Mortgage Brokers?

Mortgage brokers are financial professionals who are paid a commission to match lenders and borrowers. They usually work with dozens of lenders as freelance agents and can match you with a lender than offers the best mortgage for your financial situation and personal needs. They are qualified to evaluate your credit situation, offer you a variety of loans from different lenders, and can submit the home buyer’s application to one or more lenders. A good mortgage broker is able to find a lender to suit a buyer with just about any credit rating.

Why A Broker Can Work For You

While the idea of a commission fee paid to a broker may not seem worth it, in most cases this cost is passed back to the lender. Brokers provide a service to lenders which saves them time and resources, and often they are willing to absorb this cost. Lenders who work with brokers are also more aware that their offer will be competing with other offers from different institutions, and in many cases this means that you are getting the most competitive rates and terms available.

A mortgage broker can definitely find a mortgage that can work for you, but as in hiring any professional, be sure you are certain they are qualified to give you advice and services you are requesting. Contact me, your trusted local real estate professional, who can give you the names of reputable brokers in your area; and there are also a number of organizations that monitor the profession. Call me at (905)940-3599 or email me at info@samjia.com today.

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s