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In today’s mortgage markets people are looking for the best deal possible. With online alternatives with low rates and the ability for consumers to almost self sever themselves a home loan it can be tempting to avoid the professional advice and service of a broker in lieu of a quarter point or so lower rate. What are you missing out on however by not using a mortgage broker? Expert Advice and Guidance Without a doubt mortgage brokers are more on top of their industry then any other financial professional out there. They know the rules, guidelines and loop holes to help home owners get pre-approved quickly and find the best rate. They can advise you on down payment options and repayment terms, and shop your credit rating around to a variety of lenders. In contrast banks and online services tend to only have access to themselves. They have access to rates that are in-house and that’s it. You could potentially miss out on a better deal by limiting yourself to only one lender. Speed of Approval Brokers don’t get paid until you close on a house and the mortgage is fulfilled. So it makes sense that a broker will push a deal through as quickly as possible. If you’re trying to get a deal done quickly, then look no further then a mortgage broker. They’ve got your best interests in mind since they don’t get paid if you don’t buy. Level of Comfort There are of course some benefits to using your bank. Many people have a degree of comfort with their bank since they’ve done all their financial dealings there. Of course with the growth in online banking few folks actually have a personal banker any more and the sense of security we get from dealing with a big brand bank is more a facade then a reality. Mortgage brokers are individuals with specialized knowledge and licensing to perform their jobs. They stay up to date on mortgage laws, legislation and guidelines so they can best direct you through the tangled web of rates, terms and amortization. If you’re a first time home buyer and haven’t begun the pre-approval process yet consider a mortgage broker. Ask your friends and family for referrals to anyone they might know and read online reviews. You’ll be glad you did when you have no worries on your new mortgage on closing day of your new home. Are you ready to start shopping mortgage rates or even get pre-approved for your first home? Talk to our Mortgage broker to gain insight on the current conditions of the mortgage and real estate market. Book your appointment today online at http://www.halifaxmortgagehq.ca.
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mortgage broker, home loans, real estate,
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