If you are looking to make the leap into homeownership, it can be tempting to try to complete the process yourself, even if you do not have the knowledge and experience necessary to effectively navigate the process. You might feel that it will save you money that you could otherwise put into your new home or that you have never seen much of a point in middlemen. You might think you can learn all the jargon and find the best mortgage rates in Calgary, all on your own. However, the decision to purchase a home is one of the biggest you will make in your life—it might even be the biggest. The way you go about it will have consequences that reverberate throughout your personal and financial life.
Much like having a real estate agent working for you can help you navigate the market and avoid scams or headaches down the line, a mortgage broker comes to the table with only your best interests at heart; in the entire home-buying process, your broker is the only person working for you. Your broker will know a scam when he or she sees one, will know the mortgage rates in Calgary , and will make certain that the deal you get is the best one for your needs and desires. Think of them as personal shoppers who will shop around for the best loan for you.
When you select a quality broker, they make certain the entire process is as smooth sailing as possible for you. He or she will do the footwork involved with checking the rates at different banks—saving your credit rating in the process. A broker will also take all the jargon and legal terms and make them more user friendly, walking you through the process and keeping it transparent.
All negotiations with the bank go through the broker, so you do not need to fear being strong-armed by a big bank. As the negotiations progress, the broker makes certain that you are getting a fair deal and will stop you from entering into any deals which you do not fully understand. He or she might even be able to get some extras thrown in for you, including the possibility that the bank will pay for certain items or removing unnecessary fees.
Not all brokers are of the same quality—there is a wide variety in terms of experience and trustworthiness. When looking for the right broker for you, choose one with years of experience and an excellent track record.
Here at iMortgage Solutions inc., we have more than 10 years of broker experience plus additional years working from the lender’s side. These years gave us plenty of knowledge which we put to work for you. If you are ready to purchase a home and are in need of a broker you can trust, contact us at 403-870-2669 and we will get you on the road to homeownership.