What to Expect When You Meet a Mortgage Specialist
Have you been planning to buy your dream home in Vancouver over the last one year? If you are like most first time buyers, you must have been confounded by the volatility of the property market in the city. A report aired on BNN News shows that the local market has been largely out of reach for residents with most sales transactions involving foreign buyers.
Luckily, the B.C Government has introduced some cooling measures. The Mortgage Professionals Canada for instance says prices for dethatched homes have fallen by 16.7%. Before these cooling measures, prices before tax were rising at a rate of 39%. These developments augur well for first time home buyers who can now leverage low interest rates and lower home prices to buy their dream home.
The Role of Mortgage Specialist Vancouver
When buying a home, you need as much professional assistance as you can find. A mortgage specialist Vancouver should be one of the professionals you use once you have identified your dream home in the city. These experts have extensive knowledge of the property markets and they will help you identify the best loan product at the best rates. To appreciate how these professionals’ help, consider some of these factors:
1. Initial approval assessment : Your mortgage broker assesses your financial circumstances against the type of property you want. They will calculate your borrowing power to help you understand the amount available from different lenders. Based on your need, you will also be introduced to different types of mortgages in the market to help you make an informed choice.
2. Mortgage rates comparison : This is the gist of mortgage broker services and it involves comparison of rates from hundreds of lenders to identify a loan that suits you perfectly. The choices go beyond the big banks to private lenders and new companies in the market. An established broker already has an idea about the best products in the market depending on the type of home loan you need.
3. Expert advice : Your broker now has a shortlist of mortgage products to choose from and at this point you need financial insight to understand the implications of each mortgage.
4. Paperwork and pre-approval : With a mortgage broker Vancouver working in your corner, you don’t have to worry about negotiations, paperwork and pre-approval. These experts have the resources and expertise to do it all for you. Home buying can be a back breaking process but your mortgage broker helps make it smoother.
Click Here to know more about how to choose an experienced and trusted mortgage specialist in Vancouver.
A Little About Mortgage Approval Corp.:
MAC Mortgage Approval Corp. is a licensed mortgage brokerage firm based in Vancouver, BC committed to providing full spectrum mortgage lending for borrowers and brokers alike. MAC has already funded over $100 million in private mortgage loans throughout the country, and helped borrowers to get the best mortgage rates on first, second and third mortgages.
With over 20 years of experience, MAC offers financing to the residential family home in a subdivision to $20,000,000 estate property throughout the province of British Columbia. To know more, visit http://mortgagebrokerbc.com/ or Call (604) 676-3583 or Follow at https://plus.google.com/+MacMortgageApprovalCorpVancouver. Location: 2233 Burrard Street #309, Vancouver, BC V6J 3H9