I have highlighted nine different mortgage broker services showing you how we can help with different types of mortgage needs. Using a mortgage broker rather than a big bank can have many perks. The perks range from being having an expert to rely on, to being able to choose from alternative lending types, and having the flexibility of picking out your mortgage terms and rates. Here are the highlighted services:
A mortgage pre-approval is the first step in the home shopping process. It includes your credit, expenditures, and income. This helps to determine how much of a mortgage you can afford to pay and therefore how much you can spend on a home.
First time home buyers should take advantage of the expertise that comes with working with a mortgage broker. It can be quite scary to start thinking about buying a home, and an expert mortgage broker can help break it down into easier chunks.
Flex Down mortgages allow you to borrow the down payment. You basically take out an extra loan to cover all of or part of your down payment. If you have excellent credit but are having a hard time saving 5% or more for your down payment, this may be an excellent option for you.
Home equity loans allow you to borrow money against the equity that you have already built in the home you own. A mortgage broker will help you qualify for one of these loans to fund home renovations, consolidate debts, and more!
If you have issues with your credit or banks won't approve you for a mortgage for other reasons, there are still financing options available! A private lending mortgage may be a good option for you to access the cash you need!
There are many reasons mortgage refinancing might be a good option for you. If you took out your mortgage when interest rates were high and they have since dropped, refinancing could save you a lot of money over the term of your loan. Alternatively, it could be an opportunity to access some of your home’s equity.
Want to purchase a property that will be an income-producing asset? Investment property mortgages allow you to purchase a property with the intention of renting it out. Many people have used real estate to build wealth for retirement.
Time to renew your mortgage? Most banks will send you a renewal offer, hoping/expecting you will accept it without thinking twice. Why not use a mortgage broker to get a 2nd opinion and/or find a new lender offering a better rate or more favourable terms?
Become a private mortgage lender! Private mortgage investors are often lending out their own money to people that are self-employed or own a business, as banks will usually set higher guidelines and rates for these people which can make it harder to qualify. Help people and earn a high rate of return all at the same time.