Tips on Finding Yourself a Good Mortgage Broker

Do you want to make a good deal on your mortgage? Then you’d better find yourself a reliable mortgage broker or lender by following these tips:

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1. Talk with your real estate agent – Always ask your real estate agent for recommendations to good lenders. Even though some brokerages have their own in-house affiliated mortgage lending businesses, good agents will not limit their referrals to just that in-house lender. And because agents direct business their way through boom times and slow times alike, smart loan officers take good care of the clients sent their way by local real estate agents. Source: Bank Rate

2. Do your homework – Make sure you go to the broker armed with some knowledge of home loans, particularly the interest rates because they vary greatly.
Canstar figures show, on a $300,000 30-year home loan, the average standard variable rate is 5.23 per cent, but there’s a large gap between the lowest SVR at 4.23 per cent and the highest SVR at 6.38 per cent.
On the same loan the average three-year fixed rate is 4.78 per cent but the lowest rate is 4.09 per cent and the highest is 5.59 per cent.
Visit any of the online comparison sites and type in your basic loan details to see what type of deal you can score and ask your broker if they can do better. Source:

3. Go to your bank – With the information you’ve gathered online, you can try your bank — the bank that has your checking account may be willing to offer you a deal — and compare their offerings.

Or, go to branches of local national banks, community banks and credit unions whose names you trust. Compare the rates and terms they offer with the ones you found online. Source: Trulia

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Dominion Lending Centres Westcor 114 1212 1st ST. SE, Calgary, Alberta. Phone: 403-228-7800. .