The expertise of your mortgage consultant - courtier hypothecaire
One of the most important factors of the confidence you need to have in your mortgage advisor (courtier hypothécaire) will be because of his expertise.
There are new lenders, new loan products are added and old products removed and changes are made to existing products. In other words, the world of home loan financing is constantly changing. For example, 6 new lenders began in the market in Quebec in 2006. A mortgage consultant has to consistently stay on top of all of these developments
Signs of expertise in a mortgage broker
• He has the ability to talk about full strategies, not just products or rates. • He has the ability to know the interest rate market, what influences it, how it will affect mortgages, and is able to readily explain all of this to clients, minus the jargon. • He knows all of the products that are on the mortgage market at any given time and can make quick comparisons between them for his client. He may recommend XYZ bank because its variable rate is the best at the moment, or he may point out that ZYX lender has the best credit margins in the industry right now, and explain why that is important - courtier hypothecaire. • Has the ability to compare rates from all lenders on the spot and present the appropriate one to a client. •Makes it his mission to understand the client’s unique situation and focus on his objectives - courtier hypothécaire. •Lets the client know about all of the possible strategies that may help him pay off his mortgage quickly. • He is an AMP (Accredited Mortgage Professional), so designated by the Canadian Association of Accredited Mortgage Professionals - courtier hypothécaire • His firm has a very large volume of mortgage loans, in the millions of dollars per year. • He knows all of the new mortgage ideas that are on the market, and has the ability to explain them in layman’s terms to his clients.
One of the recent developments in the mortgage market is the tendency for mortgage advisors to specialize in a given area of the 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 real documentation of earnings) • Mortgage strategy for not so perfect credit (even bankruptcy) • Construction loan strategies • Mortgage strategies for rental property
The fact that certain advisors specialize permits them to better understand all of the intricacies of certain types of more specialized mortgages - courtier hypothécaire. I predict that more and more advisors will specialize in order to be more competitive. It’s hard to be an expert in everything.
If you are successful in getting a mortgage consultant with true expertise, you will probably save thousands of dollars on you home loan (courtier hypothécaire)
About the Author
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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