Success in the real estate business depends on many factors, and getting a good mortgage agent is one of them. Whether you are in it as an investor or as a future homeowner, it is important that you only work with a broker who can help you get the financing that you need. 

The really good mortgage agents out there are those who know how to earn their pay. They are the ones who will see you through the confusion and complexities of the entire loan process. They are all about helping you get the right loan instead of just closing the deal. They are not just intelligent and experienced; they also have the heart to listen.

So, before you jump right ahead and get yourself a mortgage agent, here are several things to look out for if you want to find the best there is:

1. A good mortgage agent is detail-oriented and always delivers.

As mortgages are complicated financial transactions, it has tons of details that can easily be overlooked if a broker cannot be on top of things all the time. So, when you’re interviewing for prospective mortgage agents, always keep an eye out for those who are punctual and who call you right back. Ask for references from vendors who they work with, such as title companies and appraisers. If you are looking for a broker who is keen on details, then they’d be sure to know some.

2. You’ll know someone is good if they are upfront about their fees.

Most mortgage agents earn their money the hard way, and they deserve fair compensation, just like any other hard-working individual. If you meet with one who is truthful and really wants to bring value to the table, they won’t have any problem letting you know about their fees. However, you have to be cautious with someone who wants to avoid discussing their compensation or on edge.

3. Look for a broker who is straightforward in all their dealings. 

If a mortgage agent promises you something too good to be true, then it probably is. Brokers desperate to close deals promise the world to prospective clients and usually go for the low-ball game to get what they want. They are the ones who will either adjust your rate at the last minute or pass you through some hidden fees. This game of bait-and-switch is the only way they can lure you in and deliver on the world that they promised but at your own expense.

4. An agent that is focused on your goals and financial situation is someone you can trust.

Getting a home loan or funding for a commercial real estate investment is a move that you must not be made lightly. Because of this, you need a mortgage broker who will really listen to you and talk with you about your goals and financial situation. This kind of agent will focus on what you have discussed and seen that you will get the type of loan that will meet all your requirements.

5. The ideal broker will help you find the best financing options available.

There are different loan options for you, depending on your needs as an investor or a potential homeowner, and a mortgage agent knows this. Unscrupulous ones will present you with a financing option that could benefit them better, while the good ones will help you find the option that will work out best for you. They will let you know of each option’s pros and cons and guide you in making the right choice.

6. The best agent will help you every step of the way.

As soon as an agent gets on board with you, they will not leave until you have finally gotten what you hired them for in the first place. They will not just work with you in getting a mortgage preapproval but will also help until your loan application has been completed. Because they are centered on meeting your needs as clients, they will be there every step of the way – explaining and simplifying what is confusing to you as you go along. You can be assured that this kind of broker will be there until you have the money in your hands.

7. You’ll know someone’s a keeper when they always have your best interests at heart.

Last but not least, you will know that an agent is good when even at the start, they already have your best interests at heart. Watch out for those brokers who are so desperate to close a deal, and they’d only be selling a loan to satisfy their own needs. This is the kind of agent who will get you to commit to a larger mortgage even if you cannot afford it. Instead, go for the one who is ready to explain things to you even if they are still unsure if you will avail of their services. This is the one who will help you look into the kind of loan that fits best with your financial situation.

So, what makes a good mortgage agent? It is not just the smarts or the track record. They also can look into your situation and use their hearts to help you find the best solution. The best broker is the one who cares.

For More Information, Contact:

John (Adam) Watson, CEO, CanCap Mortgage Group Inc. 

Email:   Tel: 416-452-5281