The housing market is on a rebound, thanks to government tax breaks and lower property prices. So if you are one of the lucky people looking at purchasing a new home, you will want to partner with a mortgage broker who is reputable and will give you the best possible deal. Here are some ideas for how to choose your mortgage broker carefully.
–To avoid predatory lenders, make it a rule that you will only deal with a broker in your area that has a physical office! This may seem like a no-brainer, but it’s amazing how many people will trust something as important as a mortgage and their good credit to virtual strangers simply to save a few bucks. It’s not worth it: make sure your mortgage broker is someone you can visit.
–Always go with experience. Because of the upswing in the market, there are many newcomers who are trying to cash in on new mortgages. Beware of opportunists and choose a mortgage broker who has been around a long time. He will have weathered all of the housing market’s ups and downs, and will have extensive knowledge and expertise in the best ways to help you get financed.
–Choose someone whom you can be comfortable with. Selecting a mortgage broker is like choosing a lawyer or any other kind of professional: you will spend a lot of time together and you will be entrusting him with important and sensitive information.
It really is a wonderful time to buy a home: remember to choose someone whom you can deal with in person, go with experience, and make sure he is someone you feel comfortable with. Brian Ofsie is still in business closing mortgages for customers and providing them with great low rates and top of the line service. For more details please visit Be Team. Ryan Coisson is a freelance writer.