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Pressnews.biz (Press Release) Jan 19, 2014
-- Anyone interested in buying a house will need to go through the arduous process of calculating interest rates on various mortgage loans in order to find the best one for them. If it’s the first time that we attempt to buy a house, then all the work involved might seem a bit overwhelming. We’ll find all sorts of calculators, guides and tips on how to get the house of our dreams, but nothing will come close to the benefits we’ll get by hiring a reliable mortgage broker, and a realtor.
If we’re the do it yourself type of person, then when it comes to buying a new house we’ll want to take care of everything ourselves. Even though things are never simple when it comes to financing, that doesn’t mean that we won’t be able to do it alone. We may find, however, that we’re spending a lot of time with research and with calculating various interest rates on mortgage loans. There are many things that we need to do in order to get a loan and buy a house. We have to find out what kind of mortgage financing we qualify for, which depends on the income we have. Then we’ll have to search for a house that has a price in that range. This involves more than just reading a few brochures. We’ll need to get copies of various documents and send them to financing agencies, awaiting their answer as to whether we qualify for a loan or not. We can use a mortgage calculator to find out the numbers behind a loan, but we’ll need a good mortgage broker in order to get it.
We might not realize it at first but we are certainly better off hiring a broker to deal with mortgage loans. While we can just as easily go to a bank and request a mortgage loan, there are certain things that we should consider first. Even if a bank and a broker practice the same rates, the difference between them is that a bank will only offer life and disability insurance for the loans offered by the bank. If we wish to change our lender, then we will need to make another insurance. On the other hand, a broker will be able to provide us with a portable life and disability insurance which will make it easier for us to switch lenders. Furthermore, a broker will give us the tools we need to find out some things for ourselves, tools like the mortgage calculator.
There are other benefits that we get when hiring the services of a mortgage broker. A broker will not just provide us with an easy to use mortgage calculator, helping us to find the best interest rates on mortgage loans, he will also provide us with critical information regarding our investments. Whether there are changes in the policies of the CMHC (Canada Mortgage and Housing Corporation) which can affect mortgage rates or whether we can benefit from the First Time Home Buyers’ Tax Credit, we can be sure that mortgage broker will always let us know it.
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