Who is a mortgage broker? All!
What is a mortgage broker?
There are plenty of prejudice and misunderstanding when it comes to mortgage brokers out there and what they do.
A mortgage broker is a professional who) goes and licensed with the Real Estate Council of Alberta (. To obtain this certificate, a mortgage broker is required to meet educational and professionalrequirements to conduct and complete security background checks.
How does a mortgage broker is different from a bank?
A mortgage broker should be no financial institution in relation to your area. The purpose and function of each very different. An independent mortgage broker, it is right that independent or have no connection with a lender. That is, it's their job, independent advice.
In essence, they areThe experts who are trained and certified mortgage financing activity. Their primary task is to work for you, not the lender! You buy the mortgage market for the best price, duration and product for the consumer, but also offer more solutions debt consolidation and credit recovery strategies.
Best of all, a mortgage broker works the same as in the funding of your body gets to your local area.Online Banking, accelerated payments, and pre-payment options. It 's simple and easy.
Myth # 1: Interest rates are high by a mortgage broker.
True: lower interest rates the industry only by a mortgage broker.
Why an independent mortgage broker?
It pays to work with a broker, to represent your interests and ensure the mortgage you get isthat it is better to your needs a. Canada Mortgage brokers have direct access to all donors of credit. Whether it's a chartered bank, trust or insurance or private lenders, each with different prices and features. More important for you to know is that many of these lenders are accessible only by a mortgage broker. Want to make sure you get the "right thing for you.
Once you've decided where appropriate, get a mortgageThe approval is often presented on how to load the application and sent it becomes. A mortgage broker is trained to submit an application to receive immediate positive result. The lead time for an intermediary will receive a response from a safe and Finance may be only 1-3 days, depending on the workload of the provider.
Who pays the mortgage broker?
mortgage brokers paid a "commission"residential mortgages from the lender, once the operation is completed and funded. Therefore, most brokers will not charge customers for their services. To ensure there are no misunderstandings, please make sure the mortgage broker in advance if the lender will pay their taxes.
No Myth 2: A mortgage broker only affects people who have bruised credit
TRUTH: Whether you are a good credit or bad credit, brokers may have a valueAssets.
independent statistics tell the story ... the use of mortgage brokers continue to grow in leaps and bounds every year a better understanding of what they did.
If you're considering a broker, ask your neighbors or friends know or have faced in the past. Get to know the agent you selected. Are connected to a lender? How to go about finding a mortgage? If a person used to ask one if she is yourOffice or at home speak of a lender offering. The most important is to ask your broker to write the credit bureau.
Do you remember walking through a large bank that offers only a cost "posted" rate could be thousands of dollars. Why fork out more money if you do not?
