Selecting the Best Mortgage Calculator in Guelph
Whether you are buying a new home or looking to refinance your current mortgage, it helps to have the best mortgage calculator in Guelph. The prime rate set by the Bank of Canada does not change often. However, private mortgage lenders and major financial institutions are constantly tweaking their rates. This state of constant interest rate flux creates an opportunity for the average consumer to find a great deal.
Locating the Most Qualified Mortgage Broker in Guelph
There are many mortgage calculators out there, but it’s important to keep in mind a couple of things. First of all, they are not going to have access to wholesale interest rates. A licensed mortgage broker working in Guelph will be able to provide you with those rates. If you are wondering why the public does not have access to these wholesale rates, it comes down to competition. Your local bank or credit union will offer you a mortgage (provided you meet their lending criteria). But the problem with this is you are going to pay a higher fee than what a mortgage broker would secure.
Institutional lenders are looking for mortgage loan originators (such as yourself). They don’t always have a brick and mortar shop, so they rely on mortgage brokers. In order to get the attention of these mortgage brokers they must offer better rates than what a bank offers.
Not all mortgage brokers in Guelph are able to get you the same terms when trying to secure mortgage financing. Lenders tend to give preferred treatment to mortgage brokerages that provide them with the largest amount of business. If you seek out the most well-established mortgage brokerages in your area, such as ourselves, you can start reviewing the mortgage brokers that are part of their team.
A great way to determine which of the various Guelph mortgage brokers is going to best suit your situation is to give them a call. If you think the calls goes well, schedule an appointment and meet them in person. By meeting the mortgage broker in person, you will be able to ask them about your personal situation and what options are available. This face-to-face meeting will also give you some insight into the overall professionalism of the mortgage broker. It would be prudent to always trust your instincts when selecting a Guelph mortgage broker best suited for your needs.