Busted! Don’t Believe These Mortgage Broker Myths!
If you’re in the market for your first property, it can all seem overwhelming. Figuring out how much you can afford to borrow and understanding the fine print can really suck the life out of what should be an exciting experience. This is where a mortgage broker can help. Unfortunately, there are many myths surrounding mortgage brokers that need to be busted. False information could steer you and your business in the wrong direction and if you are to take full advantage of their services you need to keep yourself informed.
To help you steer clear of these misconceptions, Maria Titarenko has debunked some of the most widely believed myths about mortgage brokers.
Myth 1: Mortgage brokers charge a fee.
Mortgage brokers who don’t charge a fee to the customer do so because the lender pays them a referral fee upon completion. They can provide this service for free because good mortgage brokers are confident in their ability and expertise. The many successes I have had in helping a client through from application to settlement is a good indicator for why I don’t charge a fee.
Myth 2: It’s best to deal with your bank.
Most banks have more rigid mortgage programs that have higher requirements. Because they only promote their own mortgage products, they cannot compare and make sure you are getting the best rate. Mortgage brokers have access to several different lenders and will work on your behalf to find the best rate in the marketplace.
Myth 3: Not contacting a broker for mortgage renewal.
The mortgage process does not end after you qualify for your first mortgage, but that’s not true. Eventually, your mortgage term will come to an end and you will have to renew your mortgage. Not contacting a broker when you’re coming up at the end of your current term for renewal can be harmful as in most cases, they can always offer you a lower rate.
If you’re looking to steer clear of these myths, reach out to Maria Titarenko.
As the best mortgage broker in Prince Albert, Saskatchewan, I can provide a strategic and personalized mortgage lending approach to each and every client in the short and long term.
I understand that the foundation of my business is dependent on the overall satisfaction of my clients, through the advice and service I provide. With this in mind, I promise to exceed expectations when it comes to service, understanding, advice, and choice of mortgage products in the industry. I offer services such as mortgage pre-approval, mortgage refinance, mortgage transfer, alternative and private mortgage lending, self-employed mortgage, mortgage renewals, bad credit mortgages, and home purchase mortgages. I offer my services to clients in and around the Prince Albert Area and Saskatoon Area.