Why you need to use a Vancouver mortgage broker when buying a home

Mortgage Broker

The Vancouver property market has been making headlines across the global property circles. The 2016 Prime Residential Index published by Knight Frank says this is one of the most coveted cities in the world with prices shooting by up to 25% in 2015 alone. While there have been fears of a hard landing, Moody’s Analytics says there is no drastic price depreciation expected. The prices for family homes are not expected to rise sharply, making this the best time to buy your dream home here.

Leveraging Mortgage Broker Services

Before hitting the market, it is important to talk to your mortgage broker in Vancouver. Most home buyers realize only too late how important these mortgage professionals are to their home search. Searching for a mortgage can be a daunting task, especially in a highly volatile market like this one. There are thousands of companies offering home loans and your bank will still be interested in lending you.

One of the greatest pitfalls for first time home buyers is using their bank to get a mortgage. This has been a tradition that runs in most families and considering most people use institutions their parents trust, you might be getting yourself into a financial fix. Most old banks still rely on their big clientele to make profits and their financial products are not the most affordable.

A Vancouver mortgage broker comes in handy when you want to buy your first home. Some of their invaluable services include:

1. Mortgage Rate Comparison

With the internet, this might seem like an easy task but just ask yourself; how much time do you have? There are thousands of financial institutions out there and some of the reviews you stumble upon are in fact affiliated with some of these. If you really want the best rates in the market, a mortgage broker is the only way to go because you have nothing to lose and they have all the reason to get you a good rate.

2. Best Structured Mortgages

Mortgage brokers Vancouver use your unique financial circumstances to get you a loan that is easy to repay. There is no one-size-fits-all solution when it comes to home loans and your broker goes the extra mile to arrange a tailor-made home loan.

3. Ongoing Mortgage Review

Your relationship with a mortgage broker doesn’t end when you close the deal. During the term of the mortgage, they will regularly review products in the market. For instance, with the ongoing cooling of the city’s property market, there might be a review of rates and your broker would be at hand to help you leverage the better rates.

Your mortgage broker Vancouver helps you buy your dream home using the most affordable mortgage.

The author is an experienced mortgage brokers in the Vancouver area. In this article, he explains more about the important reasons to hire a mortgage broker. For more details, visit http://mortgagebrokerbc.com or Call Follow at https://plus.google.com/+MacMortgageApprovalCorpVancouver

Location: 2233 Burrard Street #309, Vancouver, BC – V6J 3H9