As you embark on the home-buying process for the first time, the road can seem daunting. The best place to start is like anything else: at the very beginning. Starting at the beginning means deciding if you should choose a mortgage broker in Windsor or opt for your local bank to fund your mortgage. Although both options have their advantages and disadvantages, it’s important to carefully consider which financing solution is right for you.
You already have a relationship with your bank
Most of us at least have some sort of history with our bank; those relationships can matter when the time comes to approve your reject your mortgage application. Especially if you know the staff on a personal level and have a proven history of financial responsibility, these healthy relationships have been known to make all the difference. Keep this in mind as you compare your bank’s offer with a mortgage broker’s offers.
Home Equity Line of Credit (HELOC) is easier to fit into the arrangement…
Although you’re probably not thinking about how to use your home equity as you shop for a mortgage for the first time, if this isn’t your first time buying a home you may want the added convenience of having access to your HELOC sooner rather than later. A bank can usually work out a deal in the mortgage where you have access to your HELOC from the start. If this convenience is important to you, keep this option open.
Choose a bank, limit your offers
It’s worth noting that if you choose a bank, you’re limiting yourself to only one offer. Thus, you must consider your options carefully: does your bank’s sole offer and your personal history outweigh the offers, convenience, and expertise of a mortgage broker in Windsor? Maybe, but maybe not: in any case, it’s a good idea to at least listen to a mortgage broker’s offers before making such an important decision.
Mortgage brokers have a pool of offers
A good mortgage broker in Windsor, ON won’t just have a few offers for a mortgage, either – far from it. Rather, an experienced mortgage broker with good connections will be able to identify exactly what kind of mortgage you need for your current situation. From there, the mortgage broker will be able to find an offer that’s perfect for you.
The convenience doesn’t stop there, though: mortgage brokers that know what they’re doing have access to wholesale sources that banks simply do not have access to. What this means for first-time homebuyers is what every prospective homebuyer wants: the best deal on a mortgage that’s going to allow them to finally buy their dream home.
The best mortgage brokers find mortgage offers that fit like a glove…
Look, a bank knows you personally and has the proverbial ‘wiggle-room’ to find a decent deal on a mortgage – that goes a long way in finding the best mortgage for you. Yet, a mortgage broker specializes in finding the perfect mortgage for homebuyers, has access to an abundance of mortgage offers at wholesale prices, and has the knowledge you need to ensure you’re making the right decisions during the pre-approval process.
Finding a mortgage broker that checks these boxes and more isn’t hard – simply reach out to Diane Bertolin. She’s lit the way for so many first-time homebuyers and people that want the property-buying process streamlined and simplified, and she will do the same for you. Don’t let that hot new property slip by: call today, and get an offer you have to see to believe!