If you are you looking for a mortgage broker in Edmonton then you are at the right place.
“A mortgage broker is someone who arranges mortgage loans for individuals and businesses. He is different from a loan officer who is the employee of a particular lender. Mortgage brokers are the largest distributors of mortgage products in developed mortgage markets like the U.S., Australia, Spain, Canada and the United Kingdom. People tend to confuse mortgage brokers with lenders. A mortgage broker offers loan products from various lenders to borrowers. He actually works with a number of lenders, and therefore has information about various mortgage options that are available, and is able to advise and help the borrower in securing a mortgage loan.
The lender is the one who actually funds the loan. The mortgage broker does not have any funds of his own involved in funding a mortgage loan.
FunctionsNowadays, due to competitive market conditions, lenders have a plethora of offers at various rates. Since the general borrower is usually not conversant with financial products, a mortgage broker is able to advise the consumer on the best offers according to his needs. The broker also takes care of the entire procedure of securing the mortgage for the borrower, along with proper advice regarding the mortgage and the property offered against it. Mortgage brokers are especially useful for borrowers with poor credit records. Since they often find it difficult to secure a mortgage, the broker is usually able to obtain the required finance, as he is in touch with different lenders and is aware of their terms.
Finding the right broker is not easy. Site Mortgage broker in Edmonton offers some great information about what to look for.
