The mortgage world – like the investment world – can sometimes be confusing. There is a vast array of choices – open, closed, fixed, floating, long or short amortization, prepayment options, portability…and of course, the rate itself. Making the right mortgage decision can have a huge financial impact over the long term.
So what is a mortgage broker?
The role of a mortgage broker is to understand your mortgage needs, seek out the best options for your situation, and guide you through the lending process. A mortgage broker does not work for any individual institution or lender, but is independent, and has up-to-the-minute loan rates for a wide array of banks and other lending institutions and doesn’t cost you a cent.
A good investment advisor can make you thousands of dollars. But a good mortgage broker will SAVE you thousands of dollars. Whether you are buying a home or renewing a mortgage, consider making a mortgage broker part of your financial plan this year.
