If you are looking to obtain a mortgage to buy your first home, to refinance your home, or for any other home loan related reason, your first step would be to get in touch with an independent mortgage professional. Instead of getting your bank to help you, your best interests lie with an independent agent who will work for you and seek out the best mortgage arrangement for your situation.
Mortgage brokers are basically the middlemen between lenders and borrowers. You, as a borrower, need to find a lender who will provide you with the specific type of home mortgage Mississauga you need to finance your home. Some lenders offer different rates and packages than others. This is why it is beneficial to have a mortgage agent work on your behalf to search the various lenders they keep in touch with to find the mortgage you need.
Your mortgage agent will sit down with you and your family, and confidentially review your finances, your needs, goals and what you can afford. Once they have gathered all this pertinent information, they will know what they are looking for and who to look to in order to obtain the proper mortgage package for you. You don’t have to worry about paying your mortgage broker, since they are generally paid by the lender!
One of the best reasons to work with an independent mortgage broker is that you will be able to have a negotiator on your team get the lowest interest rate possible for your home mortgage. The lower your interest rate, the less interest you will be paying on the life of your mortgage. This can mean thousands of dollars in savings, and a faster build up of equity in the home. They can also go through the fine print with you, to make sure the terms are what you need and uncover any hidden expenses.
Some borrowers may have special circumstances, like a bad credit history, previous bankruptcy, or any other problematic situation. With the help of a mortgage agent, they will put you in touch with a specific lender that deals with these types of situations all the time.
If you need a mortgage, contact a professional mortgage agent today at MortgageMedics.ca, and let these experts make your mortgage process painless! Call them today at (905) 847-6611. Mortgage Medics even make house calls!