How To Choose The Best Mortgage Broker

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How To Choose The Best Mortgage Broker
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• An increasing number of homebuyers are turning to
  mortgage brokers over banking institutions to
  secure them the best possible mortgage
• Mortgage brokers, also called mortgage advisers,
  act as mediators between the homebuyer and the
  lender.
• They have insider knowledge of the mortgage
  industry, as well as access to a large number of
  lenders in order to secure you the best possible
  rates.

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• Mortgage brokers are able to shop around on your
  behalf, streamlining the process of securing a
  mortgage.
• A bank, on the other hand, can only offer you
  their own products.
• Using their many established relationships,
  mortgage brokers access exclusive deals and the
  mortgage loan insurance at the lowest possible
  rate.
• They also complete all documentation on your
  behalf, which is an additional benefit over
  securing a mortgage via a bank.

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• Purchasing a house is one of the biggest
  investments and commitments you will make in your
  entire lifetime.
• It is important to find the best possible
  mortgage brokerthe wrong one could cost you
  thousands of dollars.
• Here are some tips that will help you find the
  best mortgage broker

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Do Your Research First Evaluate Your Broker
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Do Your Research First Evaluate Your Broker

• First of all, inquire about their experience
  (ideally at least several years) and credentials
  of the broker in consideration.
• Read reviews by people who have worked with them
  in the past. Do they come highly recommended?
• Spend some time researching what kind of rates
  are available to you. Looking at a rate
  comparison website, for example, will give you an
  idea of how good of a deal the mortgage broker is
  offering you.

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Meet Them in Person
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Meet Them in Person

• If you have a few potential brokers in mind, meet
  them in person.
• This will give you an idea of what their future
  service will be like, as well as provide you with
  the opportunity to ask additional questions.
• A good broker will be very informative, providing
  you with in-depth knowledge.
• Securing a mortgage can be complicated, so you
  will want someone who can easily explain things
  to youthis is especially important for
  first-time homebuyers.

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Ask Your Broker Important Questions
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Ask Your Broker Important Question

• Who are their lenders?
• Ensure that their lenders are accredited and
  reputable.
• Does the broker work with a large range of
  lenders?
• If they work with a smaller number of lenders (or
  even if they dont), ask why they work with those
  particular people.

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Ask Yourself, Is Your Broker Attuned to Your
Needs?
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Ask Yourself, Is Your Broker Attuned to Your
Needs?

• It is very important to take the time to
  communicate your financial situation and needs
  clearly and as soon as possible.
• When your broker recommends products, is he or
  she explaining why its good for you?
• A good broker is very customer-oriented and will
  take the time to ensure that they not only
  accommodate your personal needs but also know
  what would be best for you given your particular
  circumstances.

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Get Them To Sell Themselves
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Get Them To Sell Themselves

• One of the easiest ways to evaluate brokers is to
  get them to sell themselvesafter all, you are
  the one shopping for a mortgage broker.
• What can they offer you as a mortgage broker that
  others cannot?
• Is their sales pitch convincing?

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