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Whether you are refinancing, renewing or purchasing a property, you need to find a mortgage that suits your budget and needs. While it may seem simple to walk into a bank, discuss rates with a lender and obtain a mortgage, in reality, the process to acquire a mortgage is not as easy.

To qualify for a mortgage, there are minimum standards that need to be met such as credit score, overall income, etc., and to help you navigate through the process without any hiccups, hiring a mortgage broker is an excellent idea. They help you qualify for a loan by making sure you submit accurate financial documents. Brokers will also secure the right deal for you as they have access to a range of mortgage products, unlike a bank lender.

However, it is crucial to find a broker who can get you the best mortgage rate based on your financial condition and requirements. To accelerate the search process, here is a five-point checklist you can keep in mind when you want to hire a mortgage broker.

1. Knowledge.

Don’t be afraid to ask questions. If they are well informed about their field, they will not be hesitant to answer your questions. Make sure the mortgage broker is focused on your best interests.

2. Experience.

Rules, regulations and lender policies have changed frequently over the last year and are likely to continue to evolve. Now, more than ever, you need a mortgage broker who can navigate the Canadian mortgage market.

3. Flexible.

Ensure they have the flexibility to work with multiple banks and lenders which will provide you with the opportunity to work with a lender that best suits your unique financial situation.

4. Options.

Be certain that they present you with a detailed analysis of numbers and options, including all costs and fees that relate specifically to your financial situation. This then allows you to select an option that works best for you.

5. Communication skills.

A professional mortgage broker should listen to your needs and offer a solution you fully and completely understand. They should welcome your questions and provide immediate responses. They should also embrace technology to communicate the entire process with you.

For the best mortgage broker in Red Deer, Alberta, reach out to Mel Neis. My services include first time home buyers mortgage, mortgage refinancing, mortgage pre-approvals, and mortgage renewals across Red Deer, Joffre, Sylvan Lake, Lacombe, Birchcliff, Penhold, Innisfail, Pine Lake, and Blackfalds, AB. I understand a consumer’s needs and use my expertise and knowledge to help you make the right mortgage decision. I also educate and support clients throughout the mortgage process.

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