Buying a home and getting a mortgage is a big financial decision, it is important to know the options that best suit your unique situation and the questions to ask. Allowing yourself time to properly shop around and do your homework on what mortgage products and features are being offered is essential. This is where the expertise of a mortgage broker comes in. Instead of spending countless hours researching and setting up multiple appointments, an experienced broker can access their tools to find you great mortgages to compare and choose from, streamlining the process to find what suits you and the needs of your family.
In the past, inquiries about mortgages were primarily done at the bank. While this remains an option today, banks may leave you with fewer options when it comes to refinancing your mortgage, getting a new one, or accessing the equity in your home. As a result, many buyers are turning to mortgage brokers for help instead.
Lenders have become increasingly competitive in recent years, creating a surge in demand for mortgage brokers. A broker will be able to provide options with the goal of finding a lender that offers rates and conditions suitable for you.
As opposed to traveling from bank to bank and undergoing hard credit checks, creating an unwanted dent in your credit score, brokers will only run your check once or twice when shopping for your different mortgage products, having a less detrimental impact. Additionally, the mortgage broker is paid by the lenders themselves and not the clients, which makes this a great option for buyers to find the best rates and products available at any time.
To make the most of comparison shopping, you need to know what options are most important to you. Come prepared and make sure to know what you can afford and how much of a down payment you have. You should also have a list of questions to ask the broker.
What type of mortgage is best for my needs?
What mortgage features and options are best for my needs?
With so many options available, be sure you have considered all options, including potential cashback, payments, and penalties, and choose the one that feels most right for you in your journey forward in Ottawa Real Estate.
For All The Homes In Your Life
The trade marks displayed on this site, including CREA®, MLS®, Multiple Listing Service®, and the associated logos and design marks are owned by the Canadian Real Estate Association. REALTOR® is a trade mark of REALTOR® Canada Inc., a corporation owned by Canadian Real Estate Association and the National Association of REALTORS®. Other trade marks may be owned by real estate boards and other third parties. Nothing contained on this site gives any user the right or license to use any trade mark displayed on this site without the express permission of the owner. Ottawa Real Estate
powered by WEBKITS