Mortgage Planners
October 29, 2009 by Dunkin
If you are a Albertan homebuyer or home owner – at any stage in your mortgage years – then everybody wants your business . This fact should not surprise you considering that almost every home has a mortgage .
Mortgages always big business. Everybody wants a piece of the pie. They will temp you with low rates, or tease you with special promotions. How can you cut through the hype? What you want is a sensible mortgage that is going to make long term financial sense. You would think it would not be a lot to ask for, but where exactly can you turn to get good advice. The banks say they have the answer, while the mortgage broker will most likely tell you otherwise. Trying to be a smart mortgage buyer can sometimes be overwhelming.
Here is the most important tip: Find yourself a Mortgage Planner. Not just a broker or a mortgage rep from a bank. Why would you want a Mortgage Planner ? Because in an industry with huge range of expertise the mortgage planner is the one person with the most experience and they can help you pick to fit your big financial picture.
In the 1970 mortgage brokers were primarily considered the last resort financing. Over time they took on more of a educational role so that customers could find the best rates. They also began to provide education in the market place on how to become mortgage free faster or providing help arranging client’s debt to focus on the creation of wealth.
Kelleway Mortgage Architects is a mortgage planner that provides expert advice on all matters related to mortgages. They maintain the highest professional standards while ensuring the strictest ethical standards. Mortgage Planners believes that a properly configured mortgage is not just a single transaction done in isolation of your family’s goals and your financial situation. A properly structured mortgage can and some would say must accomplish much more that just allowing the purchase of a home. The mortgage has to enhance your financial position and provide a path forward you to move towards your goals.
Normally the seller pays most brokerage commissions. Therefore if you are the buyer you would only be required to pay closing cost or you might add to the sales contract that the seller pay all closing cost, this is sometimes acceptable.
The only way that you would be required to pay a commission is that if you found a For Sale By Owner (FSBO) and you have decided to use a buyers agent. If the FSBO decide or refuse to pay your buyers agent a commission then you would be required to pay a commission to your buyers agent.
There will be other that will say the (FSBO)seller will pay the commission, but the (FSBO) did not sign or make a contract with your buyer's agent, therefore they are not obligated to honor the contract that you signed.
I hope this has been of some benefit to you, good luck.
"FIGHT ON"
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The only reason I would ever use a broker is if I were looking for an exotic type of mortgage or if I had poor credit.
Otherwise, go directly to the bank.