Things to Ask a Mortgage Broker Before Buying Mortgage
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5 Questions To Ask a Mortgage Broker Before Buying Mortgage

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5 Questions To Ask a Mortgage Broker Before Buying Mortgage

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Purchasing the right mortgage from a top mortgage broker in Calgary NE can be tiring and stressful, but the good thing is that you can remove a lot of those things off your shoulders if you go with the right mortgage broker. Aren’t all mortgage brokers the same? 

The short answer is no. 

Not all mortgage brokers are the same, considering that others are there to help you out in buying the right one and others are there to earn money and force people to go with a mortgage that would make them more profit. This is why before you hire a mortgage broker and buy a mortgage from them, you need to ask a number of questions.

First Time Home Buyer


5 Questions To Ask A Mortgage Brokers Calgary NE Before Buying Mortgage 

  • How long will it take to get a response? 

Before hiring someone, you want to know if they are capable of answering your questions or queries fast. 

When interviewing the mortgage broker, you want to ask them how long it will take for them to reply to their questions or queries throughout the buying process. The faster they answer, the better it will be for you. 

  • Where is your office located?

It’s important to buy a mortgage from a known mortgage broker that has an actual office in your city. Having a personal office means they are registered and are legit, which means they are safe and will not scam you after you make a payment for the mortgage that you like. 

  • Do you have an underwriter in your office? 

Underwriters are the ones who will approve your application, which is why it is important for you to know if they have an underwriter in their office. In case they do, this means that your application can get approved and rejected in a decent amount of time. 

  • How long will it take to get the documents verified? 

The documents that you are going to present are going to be verified before the money is credited, which is why it is important to know how long you would have to wait for this process.  Most of the time, it can take weeks or even months. 

  • How long will it take for the loan to be approved? 

Asking this one is important because we know you are eager to move into your new house.  Loans take anywhere from 30 days to 60 days to get approved, which is why you want to make sure that the broker is not telling you made-up numbers. 

Did we miss out on anything in the list that we made above? Let us know which question we missed out on by leaving a comment in the comments section below!