Looking for a hassle-free mortgage? Here are five things to look for in a mortgage agent

Buying a home isn’t only about visiting houses that have a ‘For Sale’ sign outside and choosing one of them.

There’s a lot more involved in the buying process and one of the most important tasks is obtaining a mortgage.

The process of getting a mortgage begins with doing research, followed by getting pre-approved, shopping for a house, applying for a loan, waiting for a loan underwriting, loan approval and finally, the closing process. Sounds like quite a tiresome task, doesn’t it? However, you can choose to make this process a hassle-free experience by hiring the right mortgage broker.

Mortgage brokers are an intermediary between borrowers and lenders. They gather documents and information about borrowers, create a loan file, figure out which mortgage program is the best fit, and then find a lender that offers the best terms.

If you’re in the process of or planning to obtain a mortgage, here’s a list of the top five things to look for when hiring a mortgage broker to make the process a more enjoyable one.

Time in the Industry. If a mortgage professional has been in the industry and built a successful business for over five to ten-plus years, it's a good sign. It means they that they've been able to keep up with the evolving lending landscape and also that they have been able to continue to satisfy their client’s needs.

I have been working in this industry for fifteen years, and during this time I have seen changes in government policy, lender guidelines and market conditions. Through it all, I have been able to continue to successfully assist thousands of people. There will be more changes ahead, and my team and I will be ready for them!

Responsiveness. When buying or refinancing, time is always of the essence. You need to be dealing with a professional who is responsive to your initial contact and always there to answer your follow-up questions. How quickly a mortgage professional responds to your initial call/email is usually a good indicator of how responsive they will be during the mortgage process.

Our clients are always surprised when we respond so quickly to their inquiries and this is something we pride ourselves on.

Clarity in Communication. Like with any industry, the mortgage industry has its own language and jargon. While some mortgage professionals love to use these industry words because it makes them feel important, it doesn't serve the needs of a client. You need to be dealing with someone who speaks plain English and can break down complex financial ideas into easy-to-understand information on which you can then base your decision.

Educating my clients is the part of my job that I enjoy the most. Before entering the world of mortgage brokerage, I was part of the Business Faculty at the Queensland University of Technology in Australia and later taught in Japan. During that time, I developed my own teaching techniques, and now I use some of the same teaching ideas when talking with my clients about complex finance concepts. Many times I have had a client comment, “Finally I now understand this!” That's often the highlight of my day!

Ratings from Past Clients. When I hire any professional to do a particular job, whether they're a gardener or a financial planner, I always ask them for references from their past/current clients. The same applies to choosing a mortgage professional. Ask for references and even call some of their recent clients to ask about their experience with that provider. Any good mortgage professional should be happy to provide you with a list of past or current clients who would be glad to be contacted for a reference.

If you haven't done so already, you can check out my 350+ Google Reviews from past clients - Just Google me.

A Long-Term Plan. While most mortgage professionals are hired to assist in one particular transaction, it's important to work with a mortgage professional who will be there after the transaction. Mortgage debt is usually a twenty or thirty-year debt and during that time, your financial needs will evolve. You may need to sell and buy. You may need to refinance to a better rate/different product, or like many of my clients, you may want to access the equity in your home to start investing.

I genuinely believe in the value of property ownership and have helped hundreds of people create wealth through showing them that investment property ownership is a reality for them. Many clients have built a portfolio of investment properties which they can depend on for long-term retirement income. I would be happy to do the same for you.

If you’re looking for a mortgage broker in Durham region Servicing Pickering, Ajax, Whitby, Toronto and the GTA, contact Dion Beg. I have fifteen years of experience in the property and finance industry built on a strong foundation in property investment. I have been involved in the transaction of hundreds of deals with first home buyers, clients looking to refinance or consolidate debt and property investors. For free phone consultation, click here.