8 Reasons To Consult A Mortgage Broker

You wouldn’t represent yourself in a courtroom, would you? Or worse, you wouldn’t let the defense lawyer also represent you, would you? By not using a mortgage broker and trusting one single bank to give you a loan, you are doing just that.

While there are numerous reasons to use a mortgage broker here is a list of the top eight reasons.

Save Time And Money

Why stress yourself out with extra work when you can have someone else do it for you? Instead of applying on your own, one application at a time, let your mortgage broker do all the work for you. Not only can this save you time, but it can also save you money. Your broker will have access to many different rates, which gives you the option to choose the lowest best one, which could save you thousands of dollars.

Lower Mortgage Rate and Skilled Negotiator

Your mortgage broker will have access to lower rates that are not available to the public.  Your broker should also be a skilled negotiator, which means they are better able to negotiate a deal on your behalf than if you were to do it yourself. 

Unbiased Advice And Greater Choice

A good broker will want to ensure that you’re fully satisfied by providing you unbiased advice. They will choose a lender that is the best one for you based on your individual needs. 

It’s Free

Your mortgage broker is compensated directly by the lender, so there is no cost to you as a consumer. Since you are not paying anything out of pocket, you have nothing to lose by at least consulting with a mortgage broker.

Who wants to do the paperwork? Not me.

Let’s face it doing paperwork is a less than ideal way to spend your time.  Not only can it be tedious, but it can also be stressful. Why not let a mortgage broker take that burden off your shoulders? When you work with a mortgage broker they will meticulously ensure your paperwork is in place. 

Protect Your Credit Score

If you apply at numerous lenders on your own, not only is it time-consuming, it can lead to a lower credit score. Here’s why. Every time you apply at a lender, it results in a credit check. By doing too many credit checks within a short period of time, can lower your credit score. With a broker, they only have to pull your credit score once.

Access to Lenders

Mortgage brokers also have a network of lenders that are usually not easily accessible by us.  Monoline lenders, private lenders and pension funds are lenders that deal exclusively with mortgage brokers. Without consulting with a broker, you’re leaving those options off the table.

Expertise to handle special cases

Not everyone has a good credit score and thanks to our mortgage agents we still can hope to get qualified. Having poor credit is a more complex case that you may not be able to solve on your own. An experienced mortgage broker can handle these cases for you, as they have access to lenders that will take on bad credit cases that you otherwise would not have access too.

Dominion Lending Centres NasaKasa

Consult a mortgage expert at Dominion Lending Centres NasaKasa to find out what the best mortgage options are for you. You can call us at 905.997.7001 or email at mtg@nasakasa.com.

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