A good mortgage broker can help you find and get approved for a mortgage fast. On top of making the whole process hassle-free, the broker can help you garner the best mortgage rate and terms for your home loan. And what’s more, you don’t have to shell out a penny – most mortgage brokers like Rob Campbell as paid by the lender.
When looking for the right mortgage broker, it is always wise to get as many recommendations from friends, family and colleagues as possible. You can also get referrals from your realtor or an insurance broker. The trouble is that there are many mortgage brokers out there. Some of them work under broker networks, franchise or the so-called “super-brokerages.”
Once you have a dozen or so potential mortgage brokers, you might want to do a little research homework. Read online reviews and check out what past clients are saying about them. This way, you can narrow down your list to five candidates so that you can meet them and ask a few questions.
Here are six critical questions you can ask to see if a mortgage broker is a good fit for you.
- How do you get paid?
Again, mortgage brokers are paid by lenders in somewhat a uniform manner. However, some lenders do pay more to brokers who bring in a specific amount of business. Some even get bigger commissions if they tie a borrower to a longer-term loan. All in all, you want to work with a broker like Rob Campbell who has your best interests at heart.
- How much experience do you have in the field?
The rule of thumb is that a broker who has been long in the business has adequate experience. However, longer doesn’t necessarily mean better. Nonetheless, make sure that you’re working with someone who had dealt with a large volume of work in the past – someone who knows the ins and outs of mortgage lending in Guelph.
- What types of mortgages do you deal in?
You want to hire a broker who is well-versed in the type of mortgage you’re gunning for.
- How is your schedule?
It is imperative to work with a broker is accessible most of the time.
- Can I have some of your references?
A good mortgage broker should have a healthy list of references you can call to ascertain his or her abilities.
- How many lenders do you work/have worked with?
You want a broker who has a strong connection with a wide variety of lenders. There more your options, the better your chances of getting the best mortgage rate and terms.
Why go through all the trouble when you’ve found your mortgage broker? Rob Campbell has what it takes to deliver the crème de la crème of mortgage deals for you.