A recent article in the Globe and Mail discussed how mortgage brokers can help potential homebuyers with their process.
The article references a recent homebuyer that had been looking to compare rates among different lenders. She then realized that mortgage brokers can assist her with the process and find even lower rates as well. Furthermore, during the process of purchasing a home, a significant number of decisions need to be made, especially pertaining to mortgages. These options include picking between a variable or fixed-rate mortgage and determining how long the amortization period should be.
“It’s overwhelming,” Lauren Chender, the potential homebuyer, told the news source. “There was a lot to know.”
With the help of brokers, potential homebuyers can effectively establish plans and guidelines for their process, and fully realize what’s at stake with each major decision.
One lender told the Globe and Mail that mortgages, while among the easiest to secure, are a “tremendous responsibility” and changes to rates in the future can drastically alter how much consumers end up paying for their property.
Thus, through the help of mortgage brokers, unsure potential homebuyers can receive the necessary advice to help them with their decision.