Mortgage Questions & Misconceptions

Why a Mortgage Broker?

Financial institutions are launching new products and programs more than ever before in an effort to gain your business.  Besides standard home mortgages, there are many innovative financing alternatives like self-employment programs, rental purchase programs, interest-only loans, and vacation property programs.

Whether you are a first-time buyer or an experienced buyer, Accredited Mortgage Professionals have access to the very best products and rates to suit your needs.  A bank will only offer their particular programs.

The purchase of a home is the largest purchase most people make during their lifetime, I want to make sure that each and every client is aware of the many mortgage options available to them prior to their purchase and closing date.

How much do I have to pay a Mortgage Broker?

Nothing. Mortgage professionals work for you, not for the banks.  There is a standard fee that is paid out by the institutions regardless of rates or size of mortgage.  The power and leverage to get the best rates comes from the volume that Mortgage Brokers do.  On rare occasions, for the most challenging credit solutions, there may be a fee charged by the Mortgage Broker.

When should I renew my mortgage?

Generally, it is a good idea to start shopping for a new term between four and six months before your current mortgage expires.  Many lenders send out your renewal letter very close to the time that your term expires and this does not give you enough time to arrange for a mortgage term through a different lender.  This means that you need to be tracking your mortgage time frame and mark your calendar to shop around.  Have a licensed mortgage professional shop around for you first, you may be surprised at what they can accomplish on your behalf!