XEVA Mortgages                                                                                                       patricia@patriciacollins.ca | Cel: 604.996.7701 | Fax: 604.343.7111 | Follow Me: Facebook Facebook Twitter Tumblr

3 Ways a Mortgage Broker Can Help You


There are a lot of things to think about when looking for a new home, such as the location, size of the home, and how close it is to shops and schools. There is also the financial aspect of your purchase, and the big question many ask is whether it's better to go to a bank or a mortgage broker for that mortgage.

Many first-time home buyers and existing home owners aren't aware of the advantages of using a Vancouver mortgage broker for their initial mortgage and subsequent renewals. We have three beneficial reasons you should consider a Vancouver mortgage broker when looking for your home mortgage.

Negotiating

While many find it easier to go to their bank for a mortgage, this limits your options to just what that particular bank offers you at that exact time. Many home buyers are more concerned with whether or not they will be approved, rather than obtaining the best terms and rate on their mortgage. This really isn't the best strategy as this is most likely the largest purchase of your lifetime! A mortgage broker will research and present the best options available to you, and has knowledge of what the lowest rates possible are with each lender.

For those who do inquire with several banks for the best deal possible, each bank will pull a credit bureau, which means several hits on their credit scores.

By going to a Vancouver mortgage broker, your credit history is pulled only once, so your credit score doesn't take a hit. However, the main benefit of using a Vancouver mortgage broker is that they will use their expertise and do all of the negotiating for you.

A mortgage broker knows the market and the best mortgage products that are available. This means they will find the best option for you and your specific goals and situation. They will also negotiate with the lender to ensure you have the best mortgage terms and rate - this can save you thousands over the course of your mortgage term!

The Best Options

Mortgage brokers have a finger on the pulse of the housing market. This means they know where to find the best options. This includes traditional, private, and unconventional options. Going to one bank for your mortgage really limits your options. Using a Vancouver mortgage broker opens up a wider array of choices and services.

Special Rates

One of the best reasons to use a mortgage broker is that they can get you special rates that you won't have access to if you approach a bank yourself. Mortgage brokers work hard to develop strong relationships with lenders, and this pays off for their clients. Their volume submitted to lenders and trusted relationships mean special mortgage rates for their clients that aren't advertised elsewhere, as well as quicker service.

So, whether you are looking at buying a home or renewing / refinancing a current mortgage, you will truly benefit by using a Vancouver mortgage broker to help you find the best mortgage package and rates on the market.

 

Give me a call today to find out more about your best options!