All posts by Mike Johnson

Home Loans

3 Ways A Mortgage Broker Calgary Helps You

If you’re in the market for a mortgage broker, but don’t know precisely how you can expect to be helped by one, this short guide was written for you. First of all, a mortgage broker is an agent or broker who acts on your behalf, as an intermediary between you and the banks and credit unions offering mortgage products. They have intimate knowledge of their field, both in terms of knowing mortgage products and the institutions that offer them.

The primary way a mortgage broker can help you is by pairing you with the mortgage that fits you best, and enabling you to get it. There are three other ways a mortgage broker can help, and I’ve listed them below.

#1 – Considering a mortgage broker’s exhaustive knowledge of their field, they are often able to make highly accurate recommendations as to which mortgage best fits you. A mortgage broker, after taking in the details of your personal financial situation, can pair their knowledge of the mortgage market and your unique considerations, to create a list of recommendations that suit you.

#2 – Licensed mortgage brokers in Canada are given access to a large electronic market containing almost all lending institutions that offer mortgage products. After you have a shortlist of mortgages that interest you, the mortgage broker can use that network to locate which institutions are offering that type of mortgage. The more specific the mortgage product, the better the chance a mortgage broker can help, by finding the bank that offers just that mortgage.

#3 – Once you’ve found the mortgage you want, and the bank that’s offering it, a mortgage broker is able to draft up and submit your loan application for you, in such a way that almost guarantees acceptance. What can be an infinitely complicated procedure to attempt on your own with a mortgage broker becomes easy. Furthermore, trying to submit loan applications on your own is risky. The banks might run a credit check on you more than once, and denial of a mortgage damages your chances with a different bank. A mortgage broker can handle all of this for you, so that you only a single credit check is performed, and your loan application is almost always accepted.

The final advantage of a mortgage broker is that you don’t have to pay them. They’re paid by the banks on commission, though they aren’t affiliated with any one bank. A mortgage broker is a great help when you need a mortgage.

Trying to find a mortgage broker Calgary? We’re a company of professional mortgage brokers. Address: 320 Centre St. Calgary, AB T2G 2B8. Phone: 1-403-774-1422

Home Loans

Hiring Mortgage Brokers Calgary: A Short How-To

A mortgage broker is the medium who talks to banks and credit unions on behalf of his clientele. They’re the intermediaries between you and the folks offering mortgage products. As such they play a vital role in helping you decide which mortgage product you want, and whether or not you’re going to be approved.

There are a few qualities or characteristics that distinguish a mediocre mortgage broker from an excellent one, and when it comes time to choose a mortgage broker, it’s important to pay attention to these qualities. Keep in mind: not all mortgage brokers are created equally. The truth is, there are some downright bad mortgage brokers out there. Knowing about this list of characteristics will hopefully prevent you from deliberately hiring one of them.

The first quality is: are they certified or registered in your province or state? There are as many ways to register the services of a mortgage broker as there are states/provinces. The regulations are different depending on where you go. Because this is the case, you’re going to want to make sure whichever mortgage broker you choose is legitimate, by checking for their credentials.

Next, you want your mortgage broker to be confident. Confidence is something that’s needed in an intermediary or someone who is going to be your agent in the world of mortgage products. Confidence and a successful outlook are what will contribute to the mortgage broker’s ability to work on your behalf.

The last thing to watch out for is a mortgage broker’s track record, and willingness to work for a variety of banks. If your mortgage broker only wants to work with one bank, than it seems like they’re working more for the bank than they are for you. As well, a good mortgage broker will have a track record of matching up his/her clients with the mortgages they want. Don’t settle for less.

If you take your time when selecting a mortgage broker, and treat each step of the way like a process, you’ll ensure that you never regret your decision.

We’re a group of calgary mortgage brokers. If you want to learn more visit our office or give us a call at 320 Centre Street SE, Calgary AB, T2G 2B8. Phone #: 1-403-774-1422

Mortgage Finance

The Things To Keep In Mind When Getting Mortgage Brokers

There are things to make sure to be aware of as you are searching for mortgage brokers. You have to make sure that you look out for these things. When you do this, you go about and find that if you don’t you can get into some pretty deep problems.

The first thing that you will look for is that you want to make sure that you aren’t paying anything out of pocket that you shouldn’t be looking for. This means that you should only be responsible for paying for the appraisal and then closing costs. Some of them will try making you pay for things up front. This isn’t right.

Then, there are those who will tell you that you have to wait for them. If they are working for you, they won’t tell you to wait. They will fit you in. When you are paying them, they wait for you and not the other way around. That’s just how business goes. It really is like that.

There are those who will extend how long they take to get your pre-qualification done. The thing to remember about this is that it doesn’t take that long to do just that. If you find that you are having this problem, move to another mortgage broker. They aren’t worth your time. Really they aren’t.

Last, is that they work fast. The first thing that you need in order to make sure that you can buy a home is that you have to pre-qualify. This can be done in an hour if you really put your mind to it. If they don’t work quickly to get you well on your way, then it might be time for you to look elsewhere.

It’s that plain and simple and if you don’t have that, then you really do have some issues. These are things you want to know about so that you can get the best service for you. Here’s what to check into as you search for a mortgage broker.

Not entirely sure what to look for in a mortgage broker? We’ve got the ultimate low down on the best mortgage broker in toronto now in our comprehensive mortgage brokers in toronto overview.