Benefits Of Using A Mortgage Broker
There are still lots of misperceptions regarding mortgage brokers and their work. A mortgage broker can be described as a person certified by the Real Estate Council. To be able to get this certification a mortgage broker must be able to meet professional and educational requirements and pass a thorough background screening.
Do not compare Canadas best home mortgage broker with the local bank. The function and purpose of each differ. An independent mortgage broker has no association with any lender. It is their responsibility to give you advice that is impartial.
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They're basically experts who have been trained and certified in the field of mortgage finance. Their main objective is to serve you, not the lender. They analyze the mortgage market to find the most competitive rate, terms, and product that is suitable for the consumer.
However, they also provide more than that, providing solutions for debt consolidation as well as methods to recover credit. Most importantly, a mortgage with an agent works the same way as the one you get from your local financial institution.
Mortgage brokers have access to all major lenders. One thing you should be aware of is that a lot of these lenders can only be accessed through an agent for mortgages. It is important to make sure you select the best one for you.