Top Five Things To Look For When Hiring A Mortgage Broker

Author: Jeff Cody | | Categories: Commercial Mortgages , Mortgage Rates , Mortgage Renewals , Mortgage Transfers

Blog by Jeff Cody

Buying a house can be very stressful, especially if it is your first time. There is a lot that goes into buying a house. You have to find a lender, choose a mortgage product, fill in the mortgage application, etc. Without any prior knowledge of the industry, you might find it hard to obtain a mortgage without making mistakes. One way to ensure financing for your house is to hire a mortgage broker. A mortgage broker has the necessary skills and experience to get you the financing you need while sticking to your budget. However, not all mortgage brokers are the same. In order to find one that caters to your needs, here’s a list of the top five things to look for in a mortgage broker. 

1. Experience
It is always important to do your research and gather as much information as possible. You want a mortgage broker who has the experience necessary to come up with solutions for your unique situation. An experienced broker will have most likely dealt with your particular circumstance before, or at least a similar one, and will have the necessary knowledge to react accordingly. 

2. Knowledge
As a starting point, make sure your broker is licensed to provide you with a mortgage. Ask your mortgage broker what qualifications and certifications they have. Try to ask questions concerning the things you are curious about. The mortgage broker you interact with must be able to educate you and advise you with your best interests in mind. A knowledgeable broker will be quick with an informative response. 

3. Trust and integrity
Obtaining a mortgage requires you to divulge all your financial information. An honest broker with trust and integrity will be able to freely communicate with you regarding all aspects of the mortgage process, especially fees. A trustworthy mortgage broker will also steer you away from certain lenders whose main focus is on earning money. They put your needs over everything else. 

4. Variety of mortgage products
A mortgage broker works with you to find a mortgage product that matches your needs. Their access to multiple lenders helps them shop around for the best mortgage products for a variety of mortgage products available for every type of client situation. Find a broker who can offer you access to a variety of products so that you can find the one that suits your needs the most. 

5. Quick and reliable service
There is nothing worse than a mortgage broker who delays in responding to your inquiries. Prompt responses show that a professional is well aware of your queries and is eager to help you clear your doubts. It also gives you the confidence to trust a broker more and get through the procedure much faster. 

If you’re looking for a mortgage broker In Ottawa, Ontario, reach out to Jeff Cody. I am a fully licensed mortgage broker with Mortgage Architects Ottawa. You can be assured of top-notch mortgage advice and the most competitive rates and mortgage products available from a wide range of lenders, normally with no fees. I care about my clients and I will work to earn your loyalty for the life of your mortgage. 

To learn more about the services I offer, please click here. To get in touch with me, please click here.