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Finding the Right Mortgage Broker in Edmonton
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Posted On :
Jul-09-2011
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Article Word Count :
428
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A report by the Realtors Association of Edmonton states that Alberta boasts of the highest number of population in the first quarter with a 0.4% increase.
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A report by the Realtors Association of Edmonton states that Alberta boasts of the highest number of population in the first quarter with a 0.4% increase. Investment in oil sands projects too has seen a surge and about $180 billion is likely to be invested in the coming decade. This inadvertently means more jobs and more people looking for homes. This is indeed the right time to look for a mortgage broker in Edmonton. Here’s a quick guide on the points to look for in a mortgage broker.
The first and foremost thing to look for is to check if the broker is registered with the Alberta Mortgage Brokers Association. Being a member of AMBA entails the mortgage broker to be educated on the standard operating procedures, and on the recent changes in the industry.
Experience too is an important factor when looking for Edmonton mortgage brokers. A well experienced broker is aware of the nuances in the loan approval process and shall guide an applicant to the right bank. There are plenty of fly- by-night operators who function without basic facilities. Make sure that the broker has an office, is professional and has enough knowledge about the market. Most mortgages last for more than 10 to 15 years and hence your choice of a mortgage broker in Edmonton can influence your decision for a major part of your life.
You can ask for references from friends and family. Financial experts and realtors too would be aware of mortgage brokers. These experts are sure to know about the broker’s track record. If they aren’t aware of the track record you can always feel free to directly ask the broker for his credentials.
The internet is also a great resource, to help people find the best brokers in Edmonton. A web directory that has a database of the mortgage brokers is sure to be helpful. Most brokers however have a website of their own.
It’s also important that you get along with the mortgage broker. While experience and qualification are important, a good temperament is equally important. A competent professional will surely keep you informed and educated on the different steps in the process.
Answers to questions like the origination fee, broker fee (the standard fee is usually 1 or 2 per cent of the loan amount), the number of years that the broker has been in business, the fees that are charged at ‘Par’ rate, extra services offered by the broker, can help you find the best broker in the Edmonton.
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Article Source :
http://www.articleseen.com/Article_Finding the Right Mortgage Broker in Edmonton_65701.aspx
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Author Resource :
The author is an expert mortgage broker in Edmonton and has written several articles to help people find the right mortgage brokers in Edmonton. He has also written articles about mortgage brokers in Edmonton in general.
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Keywords :
Edmonton Mortgage Brokers, mortgage broker Edmonton, mortgage brokers in Edmonton, mortgage brokers Edmonton,
Category :
Finance
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Finance
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