A Look behind the Curtain: How to Choose a Mortgage Broker
Choosing a mortgage is one of the biggest financial decisions you’re likely to make. There are thousands of mortgage deals out there, so how do you choose the right one for you? Mortgage professionals are there to help you select the right loan, but how do you select the right broker? This write up will help you find the best mortgage broker.
Look out for recommendations from friends and colleagues. Find friends who’ve made property purchases recently and get the details of their mortgage broker.
Ask what deals mortgage brokers have on offer and if there are any conditions attached. Remember, this loan is likely to be a part of your life for a long time, so don’t be afraid to ask questions and compare offers.
Do background check on the following – what kind of training, certification, and accreditation do they have? Do they own property? Are they property investors? Do they have testimonials from existing clients?
Have a research on what kind of clients do they assist – first home buyers or property investors? Do they have any knowledge of tax, structuring, and legal issues pertaining to property?
Check if the mortgage broker has an office. If so, go there to see how busy it is and how professional it appears. Anyone can start a business, but it takes a professional to make it work.
Make sure you feel confident about the mortgage brokerage firm. Go with your gut– if something doesn’t feel right, chances are it isn’t.