When we think of buying a new home usually it's the relator that comes to mind. However it's just as important that your lender or mortgage broker is on board to help you have a positive experience.
Selecting a bad broker who doesn't return calls or emails and seems to only want to rush through your paper work so they can get to the next client is probably a bad sign.
Follow these five points to choosing a fantastic broker that will make your mortgage approval and home purchase experience extraordinary.
References or Referred to You
Becoming a mortgage broker isn't all that difficult, but being a great broker is tough. Sure almost anyone can go through the course and paper work required to become a broker. Heck lenders will even set them up as brokers. However these lenders do this knowing that it's only the few that actually produce results for them, while the others will be gone within weeks if not months.
Because of this make sure you were either referred to a broker that you're going to use by a friend or family member or that you get references and testimonials from a broker you do choose to do business with before you enter into the relationship. This will ensure you avoid choosing the wrong broker from the get go.
Knowledgeable about Mortgage Laws
Canada has unique mortgage laws now. Ever since the economic crash of 2008 the laws have become stiffer and more difficult for people to buy homes, especially first time home buyers. To the laymen understanding these laws isn't so straight forward. Your broker should be able to help you navigate those laws and understand what restrictions you fall under and there by let you know what you'll need for a down payment, how much you can afford given down payment and amortization restrictions.
Available to Answer Your Questions
Availability is another key important part of finding a good mortgage broker. Too many times I've heard stories of people waiting more then a day to hear back from their broker. This can mean the difference between placing and offer and getting the home you want and missing out on a great deal because you weren't one hundred percent sure you'd be able to afford it.
Make sure that you can get in touch with your broker during most reasonable hours. This means outside regular 9-5 as well since many showings for homes are outside that time period.
Offers you Options
A good mortgage broker will provide you with more then just one alternative for your mortgage. If they're only bringing ทาวน์เฮ้าส์มือสอง ราคาถูก you one offer then there's a chance they're just an independent rep for one lending institution which means they aren't really a broker at all.
Having at least two options to choose from can ease your mind that you're getting the best rate and re-payment options possible.
Has Your Best Interest in Mind
The best mortgage broker will ensure you aren't going to be house poor. Often times lenders will let us over borrow to a point where their computer program says it's OK, but when you end up having to make the payments you feel house poor.
Don't fall into that trap, ensure your broker has your best interests in mind and that they help you decide what's an affordable payment for you.
There are other things that make one broker better then another, but these five points will ensure that your broker will get you the best rate they possibly can, answer your questions and positively influence your new home buying experience rather then slowing it down.
ไม่มีความคิดเห็น:
แสดงความคิดเห็น