Top Five Things To Look For When Hiring A Mortgage Broker

Author: Matthew Dahlman | | Categories: Mortgage Brokers , Mortgage Renewal , Mortgage Services

 Blog by Matthew Dahlman

When it comes to home purchasing, securing a mortgage is an important step. If you don’t have the time and energy to shop around for the best mortgage rates and terms, it is advisable to hire a mortgage broker to do the job for you. A mortgage broker takes care of all your mortgage needs, and the best part is - in most cases, their services are free of charge. 

In addition to helping find the best mortgage depending on your financial situation and goals, a competent mortgage broker will help discover and explain financing options at your disposal. They will work with you to get preapproval on a mortgage and also assist in completing your loan application. Once the loan application is approved, they will review the loan paperwork before you sign on the dotted line, coordinate the property appraisal, and function as a mediator between you and the lender. 

If you’ve decided to hire a mortgage broker to secure your financing, you should figure out which mortgage broker to choose. Here are the top five things to look for when hiring a mortgage broker.

1. Recommendations
The mortgage broker that you are planning to hire must be highly recommended. It is advisable to check their online reviews and see what others are saying about their experience. If your mortgage broker has served clients and met their expectations, it gives you a sense of assurance about their service delivery. Check their social media pages to see what people are saying about them. By scanning their testimonials and reviews, you’ll be able to gauge the broker’s capabilities and whether your values and requirements align with their abilities.

2. Communication
The agent that you choose to work with should be responsive when you have inquiries and possess the ability to relay your story clearly to the lenders in the best light possible. Hiring a mortgage agent who understands your concerns and individual challenges and actively provides numerous mortgage solutions will give you a clear understanding of your options in terms of home financing.

3. Product knowledge
In case you’re unfamiliar with the mortgage industry, you may be surprised to know that there are multiple mortgage options out there. Understanding what the client’s requirements are and identifying the right product is critical to the process of helping the client with the best solution. The client is unaware of what is available on the market; the mortgage broker should make clients aware of all the available options. Your mortgage broker should have access to local lenders and have an in-depth understanding of the benefits and drawbacks of each lender.

4. Empathy
Look for an ability to put themselves in your shoes to ensure the advice given aligns with your goals. Hiring a mortgage agent who genuinely cares about your requirements can be a challenge in today’s world of competitive business practices and covert loan sharks. However, when you identify a professional who empathizes with you and wants to find the best mortgage options to suit your requirements, you will undoubtedly reap great benefits and rest assured with the best mortgage product in the marketplace.

5. Friendly
Getting a mortgage can be a tedious process. You want to have a friend by your side. A person that is chasing the almighty dollar doesn’t always do what is in the best interest of the client. The mortgage broker you choose to work with should be able to cater to your tailored requirements. Hire a mortgage agent that prioritizes your needs and works toward the best outcome for you.

If you are looking for a competent mortgage broker to help you buy the home of your dreams, contact Matthew Dahlman - Expert Mortgage Brokers in Vernon, BC. With access to over 50 lenders, we can meet all your financing needs. We work with Residential and Commercial mortgages, financing purchases, refinances and construction from the best lenders available. With access to so many products, we can find the right one to suit your specific scenario. Great rates on rentals and excellent rental offsets to help you afford more. Strategic planning to put you in the best position to buy. Using your equity to grow your real estate portfolio.

We serve clients across Vernon, Kelowna, Kamloops, Salmon Arm, and the surrounding areas.

To learn more about our services to help you buy a home, please click here. If you have any questions about your mortgage requirement, feel free to get in touch with us by clicking here.