Top 3 Things Your Sherwood Park Mortgage Broker Wishes You Knew

Mortgage lending specialists are an underutilized service in the mortgage application process. After all, homeowners already have closing fees and legal costs to consider -- why add a seemingly unnecessary service to the mix? Below are three good reasons to consider working with a Sherwood Park mortgage broker when applying for or refinancing a loan for your Sherwood Park home.

1. Not just "Middle Men"

When applying for mortgages, many people overlook the value of having a mortgage broker on their side. While you can certainly do the work of shopping around for mortgage rates on your own, a mortgage broker has access to discounts, deals, and alternative lending products that are not available to consumers. They also maintain relationships with various banks and trust companies, and knows which ones are most likely to approve your application quickly.

2. They Can Give You Valuable Financial Advice

Not only can a mortgage broker help you get approved for a home loan quickly, but they will also help you calculate how much home you can comfortably afford. Their job isn't done after the loan papers have been signed, however. Your mortgage lending specialist will provide you with ongoing financial advice and review your home loan several times annually to ensure the product is still beneficial to you.

3. They Can Negotiate on Your Behalf

Because a mortgage broker maintains relationships with all sorts of lending institutions, he or she can negotiate on your behalf to obtain lower interest rates and better home loan terms than you would be able to obtain on your own. Your mortgage broker will also handle all communications between you and your lender, saving you the time, stress and frustration that is often involved in applying for a new mortgage or refinancing a current one.

The above are just three of the ways that a mortgage lender can help speed up the home loan application process and help you obtain the best possible mortgage terms. Contact us today for more information about working with a Sherwood Park mortgage broker.

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