In this current environment, it pays to do your homework, if you are seriously considering using the services of a mortgage broker.
Here are some tips from RealRenta, on what qualities you should be looking out for:
- Good Mortgage Brokers will guide you through the whole buying process all the way to settlement
- Brokers are mostly independent and not tied to specific lenders and products and should help you compare a wide range of lenders
- Their services are usually free
- You can leverage off their experience and knowledge
- Good brokers can speed up your application
- Good brokers will liase with your real estate agent and conveyance and speed up the process
- Specialist brokers have the expertise to help you with specific loans for special circumstances
- Brokers should know how to make your mortgage work for you and can tell you all about special features like offset accounts and re-draw facilities
Specialist brokers deal in loans for people with special requirements and complex situations, some of these include:
- Property Investing
- Construction Loans
- Commercial Properties
- Bad Credit
- Non-resident
- Employment- short term, contract and self employed
- Non-traditional properties
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