The Equitable Mortgage Corporation-An Overview
There should never be a comparison between a mortgage broker and your local financial institution. Each has a very distinct role and function. An independent mortgage broker is just an independent mortgage broker, meaning they have no connection with any lender. That means offering you unbiased advice is their job. Browse this site listing about Mortgage Broker-The Equitable Mortgage Corporation
Essentially, they are specialists who are trained and licenced in the mortgage financing business. Their main role is to work for you, not the lender! They shop for the best rate, term, and product for the consumer in the mortgage market, but they also offer more than that-providing solutions for debt consolidation and credit recovery strategies.
Best of all, a mortgage operates in the same way as the one you get through your local funding institution through a broker. All options are available for online banking, accelerated payments, and pre-payment. It is simple and hassle-free.
It pays to work with a broker who will represent your interests and make sure that the mortgage you receive is the one that suits your needs best. Any major borrower has direct access to mortgage brokers. Each offers different rates and product characteristics, whether it’s a chartered bank, trust or insurance company, or a private lender. The most important thing for you to understand is that many of these lenders are accessible only through a mortgage broker. You’ll want to make sure that you get the one for you that’s right.
After you have determined where to apply, having mortgage approval also depends on the manner in which your application is submitted and to whom it is sent. A mortgage broker is qualified to present the request so that an immediate, constructive outcome can be obtained. Depending on the lender’s workload, the turnaround time for a broker to get an answer from a lender and secure your financing can be within only 1-3 days.