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Burlington Mortgage Broker – Canadian Mortgages Inc

If you are planning to buy a house through a mortgage and you want to make the most out of your investments, it is always advisable to take expert assistance before closing the deal. Such assistance can be sought from an experienced mortgage broker.

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A mortgage broker is one who simplifies the process of taking out a mortgage by helping you find a good lender and negotiating the terms of the mortgage. However, you need to keep in mind that there are a number of mortgage brokers out there who are not diligent and professional enough to protect your interests. They just want to make the maximum commission out of you and don’t care much about whether you get a good deal or not. Therefore, you have to be careful when engaging the services of a broker. Here are a few tips on how to go about selecting a mortgage broker.

You can ask you friends and relatives who have used the services of a mortgage broker in the past. You can opt for an individual or a company – both have their own advantages. An individual will be able to give you more time and his services might be comparatively cheaper. The services of a company might be expensive but they would have better processes and more contacts.

You should make a list of brokers who fulfill your criteria and then narrow down your options on the basis of feedback from different sources. You should check the credentials of the shortlisted brokers. If they have ever been engaged in a legal battle against their clients for dereliction of their duties, it is preferable to remove them from your list.

After you have narrowed down your search to a few select brokers, you can contact them by phone and ask them a few basic questions like their experience in the field, their fees, and other relevant details. The communication will help you understand the approach of the broker and make it easier for you to work with him. If you have very few brokers to choose from, it is preferable to hold face to face meetings with them.

Once you are left with just 2-3 brokers from your list, you should get into details of their past performance and how they will go about securing a good deal for you. Put all your queries to them like how much time they take to get a formal approval on a loan. Ask them about their affiliations with particular banks because it is usually only through connections that brokers are able to negotiate good terms on a mortgage.

Choose the best broker based on your assessment. In such an important financial transaction, it is very important that you have mutual trust in your relationship with the mortgage broker.

Looking for a Burlington Mortgage Broker? Fill out our simple online application or call us today at 1 888 465-1432.