PDF-Mortgage Brokers Frequently Ask These Seven Questions

If youre looking to buy a home or even just switch lenders experts say there are a few key questions you should ask your loan broker Its crucial for both parties to ask questions regarding the loans eligibility and about their own circumstances. Whether you’re buying your first home, building a new home, or simply refinancing, Hanover Mortgage can help make your dreams a reality.We can also assist you with FHA loans ,VA loans , state housing, investment property and Greenville Housing Fund . BUREAU AND YOU. . A guide to managing mis-sold mortgage claims. WWW.THEMORTGAGECLAIMSBUREAU.COM. To give you the confidence to:. . Handle and submit claims to TMCB. Answer customer questions. Have an understanding of why and how mortgage . CH 2. “MORTGAGE BROKER” IS:. lends money. secured in whole or in part by mortgages, whether the money is the mortgage broker's own or that of another . person.  . holds himself or herself out as, or by an . Owning a home is a dream for many Canadians, but not everybody is in a position to be able to buy a property, and some may not be for many years to come. Paying off a mortgage quickly is something that most Canadians would love to be able to do, and being debt-free is a dream for us all. Not only is mortgage debt a financial burden, but it’s one that can put intense stress on you in many other ways, too. Securing your financial future becomes so much harder when your mortgage payments take up most of your monthly income for 25 years, and planning and saving for your retirement is increasingly tough if mortgage rates keep rising. Pay your mortgage off quicker, however, and you can begin to free up money that could be spent more wisely, such as on retirement savings. If you’re applying for a mortgage for the first time, you’ve probably heard at least some of the myths listed below. Now, while seeking help from a mortgage broker can definitely simplify the process and make it more manageable, it’s also helpful to try and get a better understanding of mortgage procedures yourself, and by debunking 5 common untruths about them, you should feel a little more mortgage savvy: Putting as much money as you can afford towards a down payment, is one of the most important things you can do, as this will have a direct impact on the amount you need to borrow, and what financing options you qualify for. That said, saving for a down payment isn’t always easy, and many struggle to find the right strategies to get them started. There are many advantages to downsizing, especially if you’re looking to save money on the costs associated with maintaining a larger property, or want to free up funds for retirement or travel. Naturally, for those families requiring a lot of space, downsizing may simply not be practical, but for those who don’t need so much space and are finding their large home difficult and expensive to maintain, it can be a smart move. For Canadian homeowners on their first mortgage, the term ‘mortgage refinancing’ might be a commonly heard one, and it refers to homeowners securing another loan to pay off their original mortgage. For the average Canadian, buying a home is impossible without the financial vehicle of a mortgage, and through the ensuing contract, they’re able to pay for a property in exchange for monthly payments, plus interest. You may not know it, but while you can’t escape the commitment of regular mortgage payments, they don’t have to be monthly. Provided the fine print of your mortgage contract allows for it, you could pay off your mortgage quicker and save money on interest costs. It can be helpful to know what mortgage brokers look for when assessing mortgage applications, as you may be able to take steps to ensure that you meet their criteria and get access to a great deal. Renting works for some people, but for most, there will always come a time in life when owning their own home starts to look like a much more enticing prospect than putting money in someone else’s pocket. However, while it can be a big and important step to take, and one that many look for ward to, it can feel a little overwhelming if it’s your first home. Mortgage Selectors in Blackburn offers a wide range of options for home mortgages. Whether you\'re interested in remortgaging or securing a mortgage for a new home, the Mortgage Selectors team of experts is here to help you find the best mortgage solution. Our company maintains a database of thousands of mortgage product providers, and affordability is always a top priority. Visit: https://mortgageselectors.com/