Being a Kamloops Mortgage Broker I get asked constantly “what exactly does a mortgage broker do?”. Well we provide a wide variety of services. If you are looking to refinance, purchase your first home, or get a loan through your current house equity I will gladly help get you the best deal available. Being the #1 rated mortgage broker on yelp I always put my clients needs first.
What Is a Mortgage Broker?
Mortgage Brokers are trained professionals who have access to many different lenders. Knowing the ins-and-outs of the market, with a large resource of lenders, allowing us to get you the best mortgage rate in Kamloops. With this in mind I have a simple goal for my clients. To assist you in saving thousands in interest, avoid big mortgage penalties and get you mortgage free faster.
A Mortgage Broker Vs A Bank
Most likely, when your parents bought there home, they got their mortgage from the bank. This used to be the norm but with the change to the real estate market things have changed drastically. These changes include the housing cost, different housing types, and types of mortgages available. With these changes it makes the mortgage process more complex. The banks understand mortgage complexity of mortgages, using this to take advantage of uneducated home buyers. The bank is a lender and will always offer their advertised mortgage. Negotiating the rate is up to the individual and most don’t even know they can do this. This is where a mortgage broker comes in. Brokers aren’t lenders, but act as a middle man between you and the bank. As the middle man the goal of the broker is to get you the best rate possible.
Other Advantages Of A Kamloops Mortgage Broker
If you have a below average credit rating due to past financial troubles, the likelihood of getting a mortgage is much more difficult. Mortgage brokers increase the likelihood of getting your mortgage due to the relationship with lenders. This also saves you time as all of the negotiating is done for you. Brokers can also connect you with other professionals that you may not have connections with. These being real estate agents, lawyers, and contractors.
Contact me today and we can put your financial plan in place as it relates to your home ownership dreams.