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Author: Gregory van Duyse
Article source: http://www.articlealley.com/. Used with author's permission.
When you are deciding upon a mortgage advisor (courtier hypothécaire), make sure you find one with the expertise to assist you in your situation.
New lenders come onto the mortgage market in Canada every year, at least six new ones in 2006 alone. Other lenders add and modify products constantly. There are hundreds of mortgage products on offer in Quebec. Following and understanding all of these changes takes study and the devotion of a lot of time and effort - courtier hypothécaire.
Signs of expertise in a mortgage broker
?He doesn't only discuss a home loan product (for example, a five year fixed) but rather all of the options and strategies.
? He thoroughly understands all of the factors that influence increases and decreases in interest rates and can easily explain where we are in the interest rate cycle - courtier hypothecaire.
? He knows the full range of products offered by all of the lending institutions in the market and is able to easily compare between them. For example, the best variable rate five year home loan is with XYZ lender because...whereas the best mortgage credit margin is offered by ZYX because...
? He is able to compare the best rate offered for each lender at any time and can present your application to the one with the best offer.
? He tries to be aware of your situation and your objectives.
? He shares every idea with you that will help you repay your mortgage (courtier hypothécaire) as quickly as possible.
? He holds the designation of an Accredited Mortgage Professional (AMP) from the Canadian Association of Accredited Mortgage Professionals - courtier hypothecaire
? His company has a large volume of home loans (many millions of dollars of mortgage loans per year - courtier hypothecaire).
? He clearly and easily can discuss the newest mortgage concepts.
Something new that has changed in the mortgage market is that many mortgage advisors are specializing in a given area of the mortgage market.
Today, there are specialists in each of the following situations:
? Mortgage strategy for those with good credit - courtier hypothécaire
? Mortgage strategy for the self employed (no formal documentation of earnings)
? Mortgage strategy for not so perfect credit (even bankruptcy)
? Construction loan strategies
? Mortgage strategies for income property
This concept allows a mortgage consultant to be an expert in a certain field. This is becoming more important as the mortgage field becomes more competitive as well as more complex. I think more and more mortgage consultants will start to become specialists in this way - courtier hypothécaire. Better to be a master of one trade than a jack of all trades and master of none!
If you can locate a mortgage consultant with a great deal of expertise, you will end up saving thousands of dollars on your mortgage - courtier hypothécaire.
Gregory is an Accredited Mortgage Professional (AMP) in Canada. To have more information on Mortgage Broker - Courtier hypothecaire please visit: Hypotheque | Mortgage
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