Tips on Mortgage Brokers

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Mortgage Broker

• Mortgage Solutions Group

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Synopsis

• Understanding The Home Buying Process
• Reasons To Use A Mortgage Broker
• Choosing the Right Mortgage Broker
• Services Offered By Your Mortgage Broker

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Understanding The Home Buying Process

• Research
• You need to see what sort of houses are on the
  market, the rough price they are going for and
  how long they are taking to sell. This will help
  you to decide whether it is a good time to buy
  and how quickly you will need to move when you do
  find a home.
• Budget
• There is no point at looking at homes twice your
  budget! You need to see a mortgage broker and
  establish how much you are likely to be able to
  borrow. At this stage you do not want to apply
  for a mortgage just know what you are likely to
  be able to get.
• Dont forget you will need a 20 down payment.

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Understanding The Home Buying Process

• Real Estate
• You now need to speak to the real estate agents
  and find out what properties they have which will
  meet your requirements. You can also look online
  and should go on their mailing lists.
• Look At Property
• This is definitely the fun stage! You can go and
  view each home you like. It is important to
  visualize yourself in the property and see how
  you would find it to live there. You should think
  about the location and access routes to your work.

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Understanding The Home Buying Process

• Making An Offer
• Decide how much you are prepared or able to offer
  and then put in a bid. Dont start at your
  maximum price give yourself some room to
  negotiate. The realtor should help you with this.
• Mortgage
• Now your mortgage broker will need to apply for
  your mortgage. You will quickly receive a
  decision in principle which will confirm you have
  the available funds to complete the sale. The
  mortgage broker will deal with all the forms on
  your behalf and arrange for the funds to be ready
  when you need them.

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Understanding The Home Buying Process

• Surveys
• It is normal to have surveys carried out to check
  the condition of the home and that the value is
  fair. You and the seller should get copies of all
  surveys completed. If this throws up any major
  issues you may need t speak to your realtor about
  adjusting your offer. Your mortgage broker can
  also help with this.
• Finish the Process
• Once all the paperwork has been completed and
  signed in all the right places your mortgage
  company will release the funds and you will be
  able to collect the keys.

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Reasons To Use A Mortgage Broker

• Access to the Market
• They are likely to be able to access offers which
  are not available to the general public.
• Impartial
• You should choose a mortgage broker which is not
  attached to a specific lender.
• Solicitor Recommendation
• They should be able to direct you towards a good
  solicitor in the area.
• Reduce Stress
• They will chase up all the forms and guide you
  through completing and signing them ensuring you
  know exactly what you are committing to at every
  stage of the process.

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Choosing the Right Mortgage Broker

• Advice From Friends
• It is highly likely that you have some friends
  that have already dealt with a mortgage broker.
• Review Online
• Armed with this knowledge you can now look at
  what other people are saying about your short
  list of brokers.
• Visit the Broker
• The next step is to visit at least 2 or 3 of the
  brokers you are considering.
• Products Offered
• A good mortgage broker will be able to offer you
  an attractive deal regardless of your current
  credit rating.
• Fees
• Many mortgage brokers will not charge you a fee
  they will get commission from the mortgage
  lender.

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Services Offered By Your Mortgage Broker

• Financial Advice
• Most mortgage brokers are also licensed to offer
  financial advice and this can be extremely
  beneficial to you.
• Commercial knowledge
• A good mortgage broker monitors the markets and
  knows what is happening.
• Insurance Policies
• It is worth seeing what they can offer and
  comparing it to the best an insurance broker has
  to offer you might be pleasantly surprised.

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For More Details, Please Visit -

• http//mortgagesolutionsgroup.ca/