Posted: 31 May '17

How Does Using A Mortgage Broker Work

The purchase of a new home can be a daunting experience – there is just so much involved in the process. A mortgage broker can help alleviate the stress of mortgage shopping and walk you through the process, all while saving you money and energy. Using an Edmonton mortgage broker is simple and will help you secure a mortgage and get into your new home with ease.

What is Involved on Your End?

To work with a mortgage broker, all you have to do is put together an application entailing necessary information such as your current income and employment verification, assets and liabilities, existing loans, any equity you have, and your credit score. This is the same type of application a purchaser would have to put together for a bank. Once your mortgage broker reviews your application, they will communicate to you what your best options with respect to loan type and amount are – keeping you a part of the conversation is important. Your mortgage broker will be the one ensuring everything is going well with the lender, sparing you the additional stress.

Saving You Time and Money

A mortgage broker has the unique advantage accessing multiple interest rates and mortgage products. Since they have relationships with many lenders, the volume discounts they receive gets passed on to you. So, while they do not directly lend you money, they act as middle ground between you and the lending institutions. Even if you have poor credit, a mortgage broker has access to lenders who deal with challenging credit situations. A bank, however, is more likely to decline your application. A mortgage broker is a professional who will shop for you, ensuring you will get the best deal and terms possible. Additionally, the services of our mortgage brokers are available at no extra cost to you, and fees are only charged in the case of very difficult credit situations.

Working Directly for You

Our Edmonton mortgage brokers are licensed professionals committed to making a difference for you. Equipped with knowledge of the market and the best mortgage programs available, we will guide you through every step of your home purchase experience, from pre-approval to refinancing.

Securing a mortgage does not have to be overwhelming or expensive. Let one of our licensed Edmonton mortgage brokers work for you. Call Dominion Mortgage Team at 1-877-999-7139 and speak with a professional today about your options.

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