Advantages of Using a Mortgage Broker
April 22, 2021 | Posted by: Sherry Corbitt
When getting a mortgage, many wonder if they should use a broker. In addition, they may question if they can go through the mortgage process as quickly without one. Having a broker, though, to assist with your mortgage is a good idea in many ways.
They Provide a Lower Mortgage Rate
If you attain your mortgage by yourself, a lender will usually offer you a standard rate. Brokers, though, are capable of achieving lower rates from lenders. This is because they have unique connections with many lenders, especially their top lenders. Therefore, having a lower rate on a mortgage can ultimately save you quite a bit of money. Finding a broker to get you this lower rate is undoubtedly a wise decision to make.
Professional Advice
Understanding all the aspects and steps of a mortgage can be pretty tricky. Brokers are trained professionals who know the different perspectives of mortgages. Their main goal is to help their clients to find and attain their dream home. Brokers will provide their clients with practical information and ideas that pertain to their situation. They will also be there to help throughout many of the stages of a mortgage so that a buyer does not have to do so alone.
Saving Time
This is a crucial point during your mortgage process. When you go to get your mortgage, the process can be quite strenuous. First, you need to find a lender who will provide you with a mortgage, which can take a while. Then, once you have attained your mortgage, you will have to begin the actual steps of the mortgage. Having a broker complete these steps can save a lot of your time and quicken the mortgage process itself.
Using a mortgage broker undeniably can provide many advantages and help you successfully go through your mortgage process.
If you have any questions regarding mortgages or brokers, please reach out to me!
Sherry Corbitt, Mortgage Broker
Sources
-Bennett, Tim (2021). Pros and Cons of Using a Mortgage Broker. Ratehub. Retrieved from https://www.ratehub.ca/blog/pros-and-cons-and-using-a-mortgage-broker/#:~:text=Better%20rates%3A%20Most%20mortgage%20brokers,you%20try%20to%20negotiate%20yourself.&text=They%20can%20also%20advise%20you,much%20mortgage%20you%20can%20afford.
-Canadian Mortgages Inc. (2019). Top 5 Reasons Why You Should Use a Mortgage Broker. Retrieved from https://canadianmortgagesinc.ca/2019/03/top-5-reasons-why-you-should-use-a-mortgage-broker.html
-Real Estate Investar (2021). 6 Benefits of Using a Mortgage Broker. Retrieved from
https://blog.realestateinvestar.com.au/6-benefits-of-using-a-mortgage-broker
-The Money Advice Service (2021). A Guide to Mortgage Fees and Costs. Retrieved from https://www.moneyadviceservice.org.uk/en/articles/mortgage-related-fees-and-costs-at-a-glance
