How a Mortgage Agent Can Make the Mortgage Process Easier

How a Mortgage Agent Can Make the Mortgage Process Easier

When you apply for a mortgage, one of the first decisions that you will have to make is whether to go to your bank, research mortgages on your own, or work with a mortgage agent. Working with your bank is convenient, but since there are no other lenders competing for you business that convenience often comes with a higher price tag. Taking the DIY approach and trying to research various lenders on your own is time consuming and in the end, you are unlikely to get a better deal than what a mortgage agent can find you.

Mortgage Agents can make your mortgage process easier

Here are four ways that a mortgage agent can make the mortgage process easier for you:

1. Mortgage agents have access to dozens of lenders.

If you believe that you can get the best price and terms by comparing the offerings of many lenders, you are absolutely right. And mortgage agents have access to dozens of different lenders, so they make the comparison process easier. Mortgage lenders even have access to a special category of lender called mono line lenders. These are lenders that you would not be able to access on your own because they work exclusively with mortgage brokers.

2. Mortgage agents have access to specialized lenders.

While it’s true that the big banks offer competitive rates, you will need to have great credit in order to qualify for a mortgage with them. Mortgage agents have access to lenders who can help individuals in unique situations including those with bad credit, the self-employed, and those who are new to Canada.

3. Mortgage agents save you time.

In addition to helping you get the best possible rate for you, mortgage agents can also save you time. After analysing your financial situation, your mortgage agent will know exactly what lenders are most likely to offer you a decent mortgage, so you won’t have to waste time with ones that are likely to reject your request. Furthermore, you’ll only have to gather your paperwork once rather than having to do it multiple times for multiple lenders (as you would have to do if you took the DIY approach).

4. Mortgage agents help you with the paperwork

The amount of paperwork to complete when you are applying for a mortgage can feel overwhelming. But when you work with a professional mortgage agent, they will help you through each step of the process and make sure everything is complete. This will help to save you the frustration of having to re-do things.

Getting a mortgage can be exciting, but it can also be daunting. But by working with a professional mortgage agent, the whole process can go a lot more smoothly. For helping getting started with your mortgage application, contact Matrix Mortgage Global today.

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