What You Ought To Know About Mortgage Broker

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What You Ought To Know About A Mortgage Broker
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These days, most Canadians are using mortgage
brokers to help them organize the financing of
their home purchase. A mortgage broker is a
licensed lending professional who represents
several different lenders, and usually offers
more loan options.
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Responsibilities of Mortgage Broker

• A broker helps you navigate the bumps you may
  encounter in qualifying for a mortgage.
• If you have glitches on your credit history, your
  broker can fix them.
• Mortgage brokers make it their business to know
  all the various plans and lending policies, as
  well as the lenders attitude on various aspects
  of mortgage security and covenants.
• He/she is in effect a matchmaker, attempting to
  introduce the appropriate lender to the purchaser.

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Sources of Funds

• Mortgage brokers in Calgary have access to
  numerous sources of funds, including the
  following
• Conventional lenders such as banks and trust
  companies
• Credit unions
• Canada Mortgage and Housing Corporation (CMHC)
• Private pension funds
• Insurance companies and more.

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Tips to find a Mortgage Broker

• One of the best ways to find a mortgage broker is
  to ask friends who have recently bought a home.
• Just as licensing rules for real estate agents
  are different throughout Canada, there are
  differences for mortgage brokers too. So make
  sure youre dealing with the right broker with
  the right license.
• Check whether they have the proper credentials.
• Seek help of the Canadian Institute of Mortgage
  Brokers and Lenders that has information on
  ethics and standards for mortgage brokers.

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Tips to find a Mortgage Broker Online

• To find whether an online mortgage broker is
  trustworthy or not, check their website. The
  mortgage brokers site can offer you a couple of
  clues, such as
• The company should be registered member of the
  Canadian Association of Accredited Mortgage
  Professionals.
• The website should feature a list of preferred
  lenders. The longer the list, the better this
  shows that the broker has a good business
  relationship with many clients.

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Phone [phone] Toll free 866 615
6132 Website http//www.mortgage360.ca/