Working with a mortgage broker is becoming increasingly popular for a number of reasons. Self-employed individuals, as well as first time home buyers, find it easier to get an approval with a mortgage broker as do many others who prefer to take this route verses dealing with a traditional bank. Working with a mortgage broker is a growing trend and while it can be a great option, it is still important to know what to look for when searching for one so that you deal with a person who is honest and has your best interests at heart.
If you’re looking to buy a home or commercial property and want to deal with a mortgage broker, make sure to consider the following qualities so that you enjoy the process and work with someone you can fully trust:
- Expertise. Mortgage brokers are required to take courses and pass exams in order to be certified. They must have the right training so that they understand the current trends which they can pass on to their clients and help with their decisions. They need to know all about banking and finances and all the news regarding rates and policies so when you’re searching for the right mortgage broker take a close look at their credentials and ask how many years they’ve been in business to get an understanding of their knowledge.
- Flexibility. An experienced mortgage broker will have good relationships with the different mortgage lenders they’ve worked with over the years, allowing them to be flexible with the rates they offer. In addition to the rates and products they offer they should also be flexible with their hours so that clients can contact them at their convenience, including weekends and evenings.
- Trust. This aspect cannot be emphasized enough because a home is the largest investment you will make; you need to work with someone that you trust so that you’re comfortable with the process. A mortgage broker should make you feel confident to the point that you have complete faith that they’re looking out for your best interests. If you don’t trust their abilities, then it’s likely not a good fit and you should look for someone else.
- Resourcefulness. The experience they have should result in great problem solving skills. They should be able to find the right solution depending on their clients’ requests and situation. They should be able to connect you with other professionals they’ve worked with and make recommendations when it comes to lawyers, appraisers and inspectors, for example.
If you’re looking for a mortgage broker you can trust wholeheartedly, contact Lending Experts today! They service the Burnaby, Coquitlam, Maple Ridge, Surrey and Vancouver areas and can offer the best mortgage rates and help with debt consolidation too. For all of your mortgage inquiries and needs, call Lending Experts right away!