Being a first time home owner can be a little intimidating when it comes to the financing part of it. You can be inundated by banks advertising their different rates in newspapers, on commercials, and through flyers in the mail. The variety and volume of lenders and lending products can be very overwhelming to say the least.
The best way to make this a less stressful process and to feel like you have someone guiding you along the way is to call a mortgage broker! You can kind of think of it as a shortcut to getting the best type of mortgage and rates for your situation. Mortgage brokers know all the ins and outs of the different types of mortgages and they keep up to speed with the latest offers from lenders.
Here are 5 of the top reasons to use a mortgage broker:
- SAVE TIME – when you deal with a mortgage broker, you only have to fill out one application (and we all know those types of applications aren’t exactly fun to complete). The mortgage broker then shops your application to lenders to find you the best product and rate.
- CHOICE – If you were to just go to your bank, you would only be offered THEIR products. A mortgage broker can deal with a variety of credit unions, trust companies, commercial banks, and private lenders.
- PUT YOUR MIND AT EASE – Knowing that you can rely on the expertise of the mortgage broker when it comes to the right financing can feel like a ton of bricks have been lifted off your shoulders.
- GREAT SERVICE – Mortgage brokers work for YOU. You will feel like you have someone on your side, working for your best interests. It’s a win-win situation for both you and the mortgage broker when the outcome is favorable.
- GUIDANCE THROUGH THE FINE PRINT – What do you do once the approval has gone through? A mortgage broker can go through the conditions with you and answer any questions you may have…as well as walk you through the next steps leading up to the closing of the mortgage transaction.
So, those are just some of the reasons why you should go through a mortgage broker. Convinced?
Whether you are a first time home buyer, looking to refinance, or renew your mortgage, call Ronin Mortgage today – top mortgage brokers in Vancouver. We look forward to walking you through the process and answering any questions you may have!