Why use a mortgage broker to help you buy your next home?
Shopping for a mortgage is stressful!
Whether you are buying a condo in downtown Vancouver, land in Alberta, or a vacation home on the west coast of Vancouver Island, shopping for real estate is stressful.
Buying a home or property requires financing for the most expensive purchase in your life, and learning about mortgages and financing is difficult. Everyone has advice on how to get the best mortgage, but where is the best place to go, and who can you talk to who will give you an honest, upfront answer?
There is so much to consider, from payment terms, interest rates, penalties, amortization, taxes, legal fees…and the list goes on.
If you go to a bank and talk to the mortgage officers there, will they give you the best deal? Does one bank have a better rate than the other, and what do you have to sacrifice to get it?
There are so many questions and far too many answers. A mortgage broker can help you get the best mortgage rates, structure and payment options for your particular credit situation.
Someone on your side
The trouble with mortgages is that they have lots of fees, long terms and difficult parts that are often not explained. When you go to a bank, you represent yourself, and have to decide if the mortgage officer there is giving you the best deal. How come one person gets Prime – ½% and others get Prime +2%? How can you ensure that you get the best deal for you?
A mortgage broker has access to a large pool of lenders and can shop for the best rate. He or she is in the business of negotiating rates, terms, prepayment options and dealing with all types of credit ratings. When a mortgage broker looks for financing, whether it is for land in Alberta, that beautiful condo in Vancouver of property on Vancouver Island, he or she is able to find the best rate – far better than you can get on your own. With help like this, it makes it so much easier to shop for financing and secure the best deal you can.
Poor Credit Mortgage
Have poor credit? How do you know? If you have credit card debt, a credit line, are late paying your bills or have been turned down by the bank, this doesn’t mean that you can’t necessarily get a mortgage.
A mortgage broker will review your credit and see what is the best financing rate, payment and terms that work best for you. He or she may even be able to get extra money to pay off your debts, incorporate them into the mortgage. Imagine getting the credit card debt off your back and into your mortgage? Why pay 20% on credit cards when you can consolidate your debt within your mortgage and free yourself of that burden to pay it back at a much lower rate?
Even if you have poor credit, are self-employed or if the bank already turned you down, we can help you get the money you need to buy that property. As Mortgage Brokers and mortgage brokers, the team at One Stop Mortgage have helped thousands of people over the past 20 years getting the financing they needed when they needed it most.
Shopping around for the best mortgage rate, terms and payment options takes so much time. Who has spare time to do this? Everyone works so much these days, just getting into a bank to make an appointment to discuss a mortgage and get rates, a credit check and other requirements done can take so much time. And how do you know you got the best deal?
A mortgage broker will do all the work to find the best deal and customize that deal for you. Every time you apply and get a potential mortgage rate, it is recorded on your credit history. Do this too often and it raises flags on your credit file. If you shop around too much, it will show you making applications for credit and could actually hurt your credit rating.
When you work with a mortgage broker, he or she will make one application and get all the applicable rates. This is not only more efficient, it also won’t affect your credit rating. Plus, it’s so much easier. Then, when you are ready, you can go to see one person, at one office to get your mortgage financing and not have to deal with the hassle.
The Vancouver Mortgage Brokers at One Stop Mortgage can help
Save time, money and the hassle of looking everywhere to find the best mortgage deal. If you haven’t done so yet, give the One Stop Mortgage team a call and get the best mortgage or financing deal at the best rate according to your credit. They will guide you through the process and be on your side to get you the best you can get!
Whether you are financing a mortgage anywhere in BC or Alberta, the mortgage broker team at One Stop Mortgage are here to help. Give them a call now at 604 874 8988 or call toll free 1 877 874 8988.