Mortgage Brokers Mortgage Broker And Second Mortgage in Toronto | Page 8

THINGS TO CHECK WHEN
HIRING THE BEST MORTGAGE
BROKER
• You need to hire a mortgage broker who is in a position to offer
something valuable. They should have a clear vision of what is being
offered in the market and where they stand in terms of competition. They
should have the resources to find an offer that suits your business needs
and financial situation. You need to ensure that everything that your
mortgage broker is offering is competitive, attractive, and lasting.
• You need to be part a business that is well structured and organized. If
they are organized, they will be in a better position to find something that
suits your needs. Your mortgage broker should communicate the plan in
the best way possible.
• Be sure to ask them how they have calculated their interest rates. Rates
may be based on many different things. Sometimes, they are based on
mortgage bonds, but they may also be based on mortgage-backed
securities. It is better to avoid dealing with brokers or lenders offering
mortgage interest rate based on the 10-year treasury note. Treasury
notes sometimes move like the mortgage bonds but there may be a
higher risk involved. Therefore it is better to avoid working with the
mortgage broker who is trying to deceive you right from the word go.