Buying a property or renovating an existing one demands time, effort and most importantly money! While walking into every bank in the region to learn about the loan packages is an option, hiring a mortgage broker in Vancouver BC is a wiser choice.
Here is what you should consider to ensure you end up with the right mortgage broker for your need.
Get References and Reviews
Start by making a list of potential mortgage brokers based on references from friends and colleagues. Research them online and read customer reviews before you choose to move ahead. Check for their experience in the field as well as the required accreditation requirements.
Ensure the Service Fits Your Particular Need
If you are a realtor looking to customize a dated home or a renovation professional hoping to add equity through new improvements, your needs from a mortgage service would be as different as chalk and cheese. Therefore it is recommended to choose a mortgage broker who can cater to your specific needs adeptly.
Look for Transparency
Your mortgage broker must be open about furnishing all details regarding the mortgage. Ensure you have a good rapport with your mortgage broker and have all your questions cleared about what you are getting into. Professional mortgage brokers take the effort to understand your specific need and craft a plan that offers the best benefits.
Examine their Lender Panel
An ideal Vancouver mortgage broker has access to a lender panel comprising of both conventional sources like banks and credit unions as well as non-conventional sources such as private lenders. Being associated with the bigger institutional names is an indication of providing the best deals in the business.