Mortgage agents are your one stop shop for all your mortgage needs. There are lots of benefits to working with a mortgage professional. They can get the best rates and the best plans to suit all your needs with ease. They have a wide access to lenders and can ensure that you have a variety of rates to choose from. But how do you find the right mortgage agent? Here are five questions you can ask a mortgage professional before hiring them:
- How much experience do you have?
This is the first question you need to ask your mortgage agent. This ensures that you know you are working with someone who has dealt with cases similar to yours and can offer the best solutions to you. This also means that the mortgage professional is able to assess your needs and can really speed up the process for you.
- What number of lenders do you have access to?
The above question, when asked the mortgage agent, can help you understand what your choice at the end will look like. The number of lenders the mortgage professional has access to, the more variety you will have. This also means that the mortgage agent is a trusted individual who is well connected and can really get the best rates for you without a hassle.
- Are they part of a franchise or local?
Mortgage professional who belongs to a franchise is constrained by the norms of the company. In contrast, mortgage agents who work independently can help you get the best and local rates while keeping your interest and not the sales margin as their top priority. This can help you ensure the most individual service from them and also that they will guide you.
- What would be the extra costs?
Any experienced mortgage professional will let you know the costs which are to be expected and may also provide you a list which will suit your financial status and requirements with ease. The mortgage agent will be upfront about the rates and costs.
- How will the mortgage professional be paid?
This is a very important question to ask the mortgage agent. You must know if they are working for a commission from the lender or they will require you to pay the sum. If they require you to pay, how much and why should be found out.