Mortgage Broker Experience Can Be Very Beneficial
“When It Comes To Working With a Mortgage Broker, There Is No Substitute For Experience”
First of all, I fully support people utilizing the services of a mortgage broker if they are looking for either residential or commercial mortgage financing. For most people purchasing a home, the mortgage lender they end up working with will pay for the services of the mortgage broker providing a great service at no cost.
Mortgage brokers are all licensed and have to commit to ongoing professional development to maintain their ability to practice.
And while all mortgage brokers are trained to help you, experience does make a difference, especially when you’re looking for a specific type of mortgage product that a mortgage broker works with regularly.
Just like any other type of business, industry relationships are important and be used to your advantage. While all brokers may have access to the same lender groups, the relationships that are built with the people that work there are developed by individuals, not necessarily by the collective.
This doesn’t mean that an experienced mortgage broker can pull favors or get you a deal that is not on the market, but it can mean that you get talking to decision makers quicker and if you have a deal that’s on the fringe of a mortgage lender’s requirements, a well established relationship and some added expertise may be able to get your deal out of the decline pile and into the approval pile.
Personally, there are individuals I can call up at a lenders office to a discuss a deal with in a matter of minutes can get an indication of interest from, that would be much less likely from someone who did not have the same relationship in place or the time and experience. When I think about my earlier days when I was first starting out and compare that to today, there is no comparison with respect to my ability to get into direct contact with the right people in the right lending organizations.
Like most anything else in life, the more experience you can bring to the table, the better the results you can expect. So if you need to secure a residential or commercial mortgage, I recommend that you give me a call so I can quickly assess your situation and requirements and provide relevant mortgage financing options that meet your requirements.
About the Author Joe Walsh
I'm a Toronto Mortgage Broker that arranges mortgage solutions on residential and commercial real estate property. With over 30 years of mortgage financing experience, I'm able to quickly assess your financing requirements and provide relevant solutions for your immediate consideration. Joe Walsh Google+ YouTube Channel