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Edmonton Mortgage Broker

Need an Edmonton Mortgage broker?

Edmonton mortgage broker, alberta

We were in the same position - needing an Edmonton Alberta mortgage broker and wanting one that could save us money by getting the best rate.

We were trying to buy a house in Edmonton and needed someone who could work behind the scenes to get the best rate for us. No way were we going to pay whatever our going bank rate was. We were going to shop around and find the best rate and most reliable company.

We were first time home-buyers - totally green when it comes to the realm or mortgages and negotiating with lenders. We were also busy and didn't have the time to research and talk to each company directly.

The solution? An Edmonton Alberta mortgage broker!

What is a Mortgage Broker?

First, before we go any further, let's clear up any misconceptions. Just what is a mortgage broker?

A mortgage broker is an independent contractor, not affiliated with any lending institution. Their job is to search all possible lenders to find the lending institution that will not only be willing to loan money to an individual, but also to provide him with the best rate possible.

Mortgage brokers generally are more aware of the mortgages that are available. Considering the size of a mortgage and the amount of interest that is paid on it over the years, a good broker can save you a lot of money.

How to Find the Best Alberta Mortgage Broker

With so many Edmonton mortgage brokers, how do you know which one you should choose? After all, mortgage brokers are not all equal. Some know their business inside and out, other's just know enough to get by. Some will work hard for you; other's will take the easy road.

The difference between a good mortgage broker and a bad one could be the difference between a lot of money in or out of your pocket.

Here are some things you can look into before deciding on a broker.

  • How long has she been an Edmonton mortgage broker?
  • Is she registered with the Better Business Bureau? If so, does she have good ratings?
  • Has she taken any extra training or does she just meet the minimum requirements?
  • What lending institutions does the broker work with? Does she just work with 3 or 4 institutions or does she search for the best rate from dozens of institutions?
  • What types of lending institutions does she work with? Are they fly-by-night companies (sub-prime) or are they reliable companies that will be around for the length of your mortgage?
  • Does she listen to you and find out about your personal financial situation when determining which loan is best for you?

Best Edmonton Alberta Mortgage Broker

In our humble opinion, we believe we found the best Alberta mortgage broker in Edmonton.

She's been in the business a long time and she knows the field well. When searching for a loan, she searches through dozens of quality lending institutions.

Her search doesn't just stop with getting the best mortgage rate, but she also reads through the fine print of the mortgage agreement to make sure that there is no wording in it that can hurt you down the road.

She is dedicated to her clients and makes sure that they are taken care of - even when it's inconvenient for her. When we bought a house, we had some deadlines that came up just before and after a national holiday. She happened to be on vacation - and we happened to have some snares in the process.

But she did not leave us buy ourselves or leave us to be taken care of by some of the people that work with her - while she was on the road and while she should have been enjoying her vacation, she was interacting with banks to make sure we had a loan and that all the fine print was in our best interest...then I hope she got to enjoy a little bit of her vacation!

She is very hands on - making sure that we met deadlines in the proper time.

She was recommended to us by our real estate agent and since going with her, we've talked with other people who have used her services. I've never found anyone who was upset with her services.

So just who is she?

Cynthia Wickens of Balance Mortgages - a great Edmonton mortgage broker to work with.

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