You will not have confidence in a consultant (courtier hypothécaire) if you are not convinced that he has integrity.
Integrity is said to bethe quality of an honest person, who is not able to be corrupted and who acts in a manner that is above reproach. Is the home loan broker you are considering have this quality, so that he can put your interests before those of his bank? Make sure the answer to this question is YES – courtier hypothecaire.
If you are doubtful, you had better keep on searching for a good mortgage consultant who will work for you. If there is not confidence, you will not be able to take any advice from this mortgage consultant. Any advice he gives you will make you wonder if they are better for you or for his bank.
You have to judge the integrity of your mortgage consultant.
You should interview your mortgage counselor (courtier hypothécaire) just as you would interview anyone else you are hiring. Dont tell him what you want, let him do all the talking. If you tell him you are looking for the best rate for a five year loan, for example, he will only focus on that. Make sure you see what he can offer you. If he is a good mortgage counselor, he will try to learn as much about your situation as possible, instead of just giving you quotes on loan rates.
There are many loan products and many loan rates.
If the consultant you are talking to starts focusing on rates or products, such as a five year fixed rate, or a variable line of credit mortgage, he is indicating that all he wants is to get a quick loan and you will never hear from him afterwards. You will save the most on your mortgage through small details that accumulate over the years. A good mortgage counselor should be able to help you pay off your mortgage as quickly as possible without a negative impact on your lifestyle – courtier hypothécaire.
If the mortgage counselor knows this area well, he should be able to offer a number of solutions (and a number of that will work for you. Someone who is an expert in this field will have many strategies at his disposal to discuss with a client.
Conflict of interest
One of the most important considerations when it comes to choosing your mortgage consultant is who he is really working for. If you are working with a banker who gets a bonus by bringing in a high interest rate loan, he is certainly not going to try to get you the best rate for his clients – courtier hypothecaire.
There are two sides to every mortgage, the one who pays the money and the one who receives the money. You, as payer, want to pay as little as possible. The bank, as receiver, wants to make as much as possible. Does your counselor want to make money for the bank or save money for you?
Long term relationship
If your mortgage counselor takes a long term approach to your account, you will be better served. A consultant like this will contact his client annually and make sure they are meeting their mortgage goals.
You can find hundreds of mortgage consultants who want to make a fast loan deal. The secret is to find one who is going to stand by you throughout the years.
Dont be rushed. Make sure you have a consultant who will:
Want more than a fast transaction
Not just shop for interest rates – courtier hypothecaire
Not have a conflict of interest in the loan
Save you money on the whole transaction of the mortgage.
This is probably the most important step you can take.