Why Should You Work With a Mortgage Broker?
In today’s tough real estate market and high interest rate climate, it is more important than ever to put yourself in a position to WIN when it comes to obtaining a mortgage. One of the best ways to ensure financial stability and success in a turbulent market is to work with a mortgage broker, who will work to get the best rates and deals tailored to your unique situation.
Six Reasons Why You Should Work With a Mortgage Broker
- Access to Multiple Lenders:
A mortgage broker can provide access to a variety of lenders, including large banks, credit unions, and private lenders. This can give you a greater choice of loan products and interest rates. - Access to Unique Lender Programs:
Mortgage brokers have access and knowledge of different lender programs that can help clients in a unique position. Such programs can include: net worth programs, self-employed bank statement programs, and non-stress test programs that allow clients access to higher loan amounts. - Knowledge and Expertise:
Mortgage brokers specialize in helping clients find the right mortgage. They have in-depth knowledge of the different types of mortgages available and can help you understand the pros and cons of each option. - Saves Time:
Mortgage brokers can save you time by doing the research and legwork for you. They can help you compare rates and terms from different lenders, and handle the paperwork and application process on your behalf. - Negotiating Power:
Mortgage brokers can often negotiate with lenders to get you better terms and rates. This is because they work with lenders regularly and have established relationships with them. They can also help clients re-negotiate their upcoming renewal offers by leveraging different lenders rates against one another. - Personalized Service:
A mortgage broker can provide a personalized service that takes into account your individual circumstances and goals. They can help you find a mortgage that fits your specific needs and financial situation. They have a fiduciary duty to finding you the best lender and product that fits a clients individual needs unlike a bank employee who is working for the bank to help sell the banks products.
Overall, working with a mortgage broker can be a great option if you want to find the best rate, save time and get expert personalized guidance when shopping for a mortgage.
If you or someone you know would like to discuss the different mortgage lenders and products available to you please feel free to book a call directly into my team’s calendar.
Happy Mortgage Shopping!
