The Truth About Mortgage Brokering

Buying a house is a big commitment. It requires careful financial planning, research and consideration. Just like you wouldn’t sell your house without seeking advice from a real estate agent, you should always seek professional help before selecting a mortgage. However, there is a long-standing stigma surrounding mortgage brokers. Misconceptions like mortgage brokers charge a fee and are extremely expensive and not worth the investment do not fare well for you or the mortgage industry. As an expert mortgage broker, MORTGAGEGIRL BC – JACKIE WOODWARD wants to help debunk these misconceptions and change the attitude of people towards mortgage brokering.  

1. Mortgage brokers charge a fee 
Most borrowers, at some point, will be told that if they use a mortgage broker, they will have to pay a fee. This is not correct in most cases. Usually, lenders pay mortgage brokers a finders fee and additionally give low rates to broker clients. The only time a fee may be charged is if a private lender is used for a private first or second mortgage where the lender pays no referral fee. 

2. Mortgage brokers charge higher rates
Mortgage brokers have a duty of care to their clients to find them the best deal possible, irrespective of their personal profit. The lenders that mortgage brokers use have lower rates available than the major banks. Mortgage brokers have access to numerous lenders who give the client more options for their mortgage needs.

Takeaway 
Contact an experienced mortgage broker today and get your questions answered if you have questions about mortgages, mortgage rates, and pre-payment allowances. As an experienced mortgage broker, I am willing to listen and am open to taking your concerns on board. Most people who use mortgage brokers are ones that simply recognize that a professional can save them time and money and are the logical choice for the job. 

If you are looking for a mortgage broker in Chilliwack, British Columbia, then reach out to me at MORTGAGEGIRL BC – JACKIE WOODWARD. I have been working in the financial industry for over forty years with a number of different financial institutions. I will work for you and make sure the mortgage you get is best suited to your unique finances. 

I offer services like first time home buyer mortgage, home purchase mortgage, mortgage pre-approval, divorce mortgage buyout, new to Canada mortgage, purchase plus improvements mortgage, mortgage renewal, refinance mortgage, home equity line of credit (HELOC), second mortgages, etc. 

I offer my services to clients across Maple Ridge, Abbotsford, Chilliwack, Mission, Langley, Hope, and the surrounding areas. To learn more about the services I offer, please click here. To get in touch with me, please click here.