Mortgage Rates – What You Need To Know About Mortgage Brokers

Mortgage Rates – What You Need To Know About Mortgage Brokers

Why Hire A Mortgage Broker?

Anyone who has ever purchased a property will know exactly what an arduous and time consuming process it can be. For anyone who has a regular job and a family to look after, as well as various other responsibilities and obligations, the excitement of looking for, and of buying a new home can quickly become a stressful, energy sapping nightmare. With so much to consider, from interest rates to APR rates, applying for a mortgage can become a life altering decision, and choosing a mortgage deal that is right for you can ultimately mean either a peaceful, stress-free life in a beautiful new home – or, if you choose the wrong one, it can spell disaster that can last a lifetime. The lines are very thin.

By hiring a mortgage broker, however, the homeowner is guarding against financial disaster and is practically securing financial security and peace of mind. A mortgage broker knows the market inside out; they know how to sound out the best deals, how to cut through the jargon, and how to take all the pressure and responsibility off you whilst getting the results that are suited to you and your means. Moreover, they do this with the homeowner and their circumstances at the front of their minds the whole time. Each case is treated individually and the right mortgage deals are secured for the right person.
Whilst in some circumstances in life the phrase ‘there is no right or wrong way to do it’ rings true, it certainly doesn’t apply in the complex, often muddy world of mortgages and property. When it comes to applying for a mortgage, there is always a right and a wrong way of doing things. Just like a homeowner who has never tried plumbing in their whole life decides to take it upon themselves to fix a leaky faucet before flooding the kitchen, an inexperienced homeowner who is going into the mortgage world blind will only cause long term problems for themselves and their family. A mortgage broker knows the right way of brokering mortgage deals, and they know how to save you, the homeowner, potentially thousands of pounds.

A mortgage broker is committed to securing the homeowner the lowest rate possible, and another of their remits is to make sure that their credit rating is not harmed. Via ingenuity, knowledge and experience, a mortgage broker can make a potentially tricky situation an easy, swift one and they can turn a homeowner’s dream property into a dream mortgage deal. Often, they have access to a wide variety of connections, including various banks and lenders in the local area, and they are able to compare the competitive prices offered by all. In short, a mortgage broker does all the hard work for you, and they do it with a vast amount of skill and experience built up over the years.

So, just like you wouldn’t waste any time asking for directions in a foreign city you have become lost in, you should waste no time in getting a mortgage broker on board as you attempt to navigate the mazy world of mortgage deals. Your financial future is not something you want to mess around with; indeed, it can make or break your whole life, and as everyone knows, a mortgage can often be the biggest financial decision anyone will ever have to make. So why make it alone and with scant knowledge of what you are doing? We at iMortgage Solutions provide an exemplary service to residents in Calgary and beyond, and we are committed to getting you the lowest rates possible.

Mortgage Broker’s Are An Invaluable Well Of Information

In life, it is extremely hard to be completely independent. No matter how much we would prefer to be able to say that we can live independently of others, and that we don’t rely on anyone else for any help, be it financial help or otherwise, true dependence in a society is practically impossible. More to the point, it is completely unnecessary. When we are feeling down, we look to our friends and family to give us a pick-me-up. When we are ill, we visit the doctor who we rely on to treat us and make us better. Looking further, we rely on others for everything from the basic necessities, such as clean water and food, to home maintenance, such as electricians when there is an electrical fault in our house. In short, we as human beings cannot do everything. Attempting to do everything, no matter how inexperienced we may be at each task, is just downright folly. Moreover, it eats into our time, negates our preferred lifestyle, and causes us nothing but stress.

The same rule applies when it comes to buying property and applying for a mortgage. In Canada, there exist mortgage brokers, such as us at MyMortgageBroker, who are filled with a raft of information and connections, knowledge and experience, that it is extreme folly to ignore their services. Just like we wouldn’t treat ourselves if we broke our leg, we should always call in the experts when it comes to the big financial decisions that we make in life – and applying for a mortgage is one of the biggest, if not the biggest, any of us will have to make. So why make the big call alone? Why not draft in the help of those whose business it is to know absolutely everything about mortgage rates, mortgage deals, the best lenders, how to keep your credit rating down et cetera?

In Canada, a mortgage broker St. Albert knows the St. Albert property market much more than you do, just like a mortgage broker Devon will know the property market in Devon intimately – or even a Mortgage Broker Spruce Grove . We at iMortgage Solutions provide service that covers a wide area and we offer a team built on experience and information that we have amassed throughout the years by working in our specialized regions, thus becoming tuned in with how the local property markets operate. The key words are always going to be information and experience here; by going with iMortgage Solutions, you are welcoming in a whole vista of information that will secure you the lowest rates possible.

A mortgage broker’s information is not just limited to mortgage deals. They collect and collate information on you and your partner which they use to your advantage. By using this information, as well as an almost encyclopedic knowledge of the various banks and lenders in the local vicinity, which helps them to contrast and compare the competitive rates on offer, they are able to make an informed decision about which is the best mortgage deal for you. Moreover, their information can also be used to keep your credit rating down, as well as to make sure that you qualify for a mortgage in the first place. It is easy for us all to assume that we automatically qualify for a mortgage. But, particularly in light of the recent recession and mortgage scandal that hit the US, no one has a given right to a mortgage. If there is the possibility that you are denied a mortgage, your mortgage broker will work with you to make sure that you become pre-approved for a mortgage within just six months.

What A Mortgage Broker Does

“A mortgage broker acts as an intermediary who brokers mortgage loans on behalf of individuals or businesses.” Wherever you are looking to buy property in Calgary, whether you are looking for a mortgage broker Leduc [ Link to LLA #3 “Mortgage Broker Leduc” ], or one elsewhere, iMortgage Solutions provide a consummate service in a broad range of areas throughout the region, and have extensive knowledge of all rates, including but not limited to Edmonton Mortgage Rates that more than matches any provided by our competitors, and we do exactly what is required of a broker – and so much more.

A mortgage broker is first and foremost someone who guides you through the heady, dizzying process of applying for a mortgage. They act as your friend, your teacher, and for a few weeks at a time, they can often be the person you are most in contact with. They do all the research, the negotiations for you – in essence, they do all the hard work so that you are free to concentrate your time on other areas of life so they don’t suffer, such as your job and your family. And, moreover, they do all this with invaluable knowledge and experience.

A mortgage broker has intimate knowledge of the lending market, and is connected to the various lenders and banks that are available to you. By being connected with these lenders, a mortgage broker is able to compare deals that are on offer not only with one another but also with you and your circumstances; therefore, they can find the best deal that is suited to you and your means. A mortgage broker treats each case individually; they do not pre-empty your decision making by bringing you deals they think will be right for you without even looking at your circumstances and financial means. Instead, they will ask to see information from you before making a decision on which deal will be best suited for you. This can also extend to payment schemes, and whether the interest you pay is fixed or varied. In essence, a mortgage broker is committed to making sure that you never over extend yourself financially.

Whist friend may be an over-used word in our society, a mortgage broker is certainly on your side throughout the whole process. They are not on the side of the lender or the bank. A mortgage broker, be they on commission or be they charging a one-off fee from you, the homeowner, are working on your side and have a duty to get you the best mortgage deal possible. If they do not, and if their work is shoddy, you can report them and their reputation will be tainted. They build their reputations via hard work, diligence, professionalism – and care. By doing this, they are the only go-to people when it comes to seeking advice on which mortgage deal to take up. Websites that provide minimal information on mortgage deals do not possess the kind of knowledge and experience that a mortgage broker does.

A mortgage broker, then, communicates with their client; they work for them in finding the best deal possible at the lowest rates without harming their credit rating. They guide you through the sometimes murky and maddening process of finding a mortgage. Mortgage brokers know how tricky and complex mortgages are – and that’s why brokers exist.

Choosing The Right Deal Takes Time And Experience

Throughout childhood, we might hear the occasional reference to a mortgage from our parents. We might be privy to their evening meetings in the dining room with a mortgage broker. We might listen in on the occasional argument about their ‘trouble with paying off the mortgage.’ We might also hear our parents quarrel about remortgaging the house. Whatever we hear about mortgages throughout our youth, we get the impression that they are not nice things; we form the idea that they’re things which only grown ups do, and which we, who are only on the lookout for fun, hope we never have to deal with. Yet, as we get older, the realiz
ation that we will one day want a mortgage ourselves begins to grow; and not only do we want one, but we actually get excited about having one. It is, after all, a rite of passage of-sorts of adulthood. It means, essentially, that we get our very own house.

But a mortgage is a big deal; not just a big deal, but a big financial deal. Choosing the right one is not something to be taken lightly. Choosing the wrong one can land us in financial turmoil for the next decade or so – or even a whole lifetime. Sometimes it may even happen that we do not even qualify for a mortgage. Because of the financial and mental risks that come with choosing a mortgage deal, it is advised that we seek the help of a mortgage broker.

Whilst it is true that, owing to the advent of the Internet, we now live in the Age of Information, there is still only so much information that we can digest, commute and put to good use. For example, just because there is now greater access than ever to mathematics does not mean that we all have suddenly become good at understanding mathematics. Pythagoras Theorem may be available to learn on the Internet, but that does not mean that we all will understand it. In the same way, there are comparison websites and comparison tables on the Internet that are designed to help you make the right decision when it comes to choosing a mortgage deal that suits you. But this does not mean that we all have the experience and know-how to cut through the jargon and data to make a reasoned and informed decision on our future.

Whilst comparison tables are useful to homeowners, containing as they do information such as interest rates, APR rates, and the maximum loan to value, understanding them can often take experience and a certain kind of knowledge, such as possessed by mortgage brokers. Brokers, such as found at MyMortgageBroker, possess ingenuity, flexibility, knowledge and experience that helps them to cut through the jargon and which helps them to make the best decision on the best mortgage deals for each individual client they service. Rather than spending days, weeks, and months wading through the darkness, scouring through mortgage deals and blindly assessing rates, it is advisable that the potential homeowner makes use of a mortgage broker who can simplify information and who can make sure that the client avoids any unnecessary financial pitfalls.

Apart from the Internet and comparison tables, the potential homeowner can also talk to their bank and building society and ask which deals they would recommend. But even this is limited access; the banks will only recommend their own products, whereas a mortgage broker, who has a wealth of knowledge of the various banks and lenders in the vicinity and what products and deals they have to offer, will be able to compare and contrast what each bank, lender and building society can offer. They will break down these offers to you, the client, and will recommend which one you should choose.

So, whilst choosing a mortgage deal can be done without a broker, going alone will not necessarily mean that you have made the right choice. Just like a soccer coach employs scouts to ascertain which players they should buy, making use of informed decision-makers, you, the homeowner, would be best advised to make use of mortgage brokers who make a living from getting the right deals for the right people. By choosing iMortgage Solutions, you are guaranteeing your financial future and buying yourself peace of mind. The phrase ‘dream home’ rings true; for us, the dream mortgage is also king.

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