The integrity of your mortgage counselor

Before you can have any confidence in anyone, you have to know that they have integrity. The same is true of your mortgage counselor - courtier hypothecaire.

Integrity is defined as follows: “The character or quality of an honest incorruptible person, of whom the conduct of his acts is above reproach.” Does the mortgage broker demonstrate that he is going to place your interests before the interests of the lender? - courtier hypothecaire

The answer should be YES!

If you have doubts, it is better to keep looking for another mortgage consultant. You should have confidence that the advice and recommendations given to you are good for you (and not for him!)

The integrity of a mortgage consultant

The first thing you should do is to have a phone interview with the mortgage consultant (courtier hypothecare) and to listen to him well without telling him exactly what you are seeking. (For example: don’t tell him that you are looking for “the best rate for a 5 year fixed mortgage”.) Let him do the talking and answer his questions as if nothing is up. A good counselor will probably try to understand your situation and your objectives better before beginning to advise you.

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 again. 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 home loan as quickly as possible without a negative impact on your lifestyle - courtier hypothécaire.

If the mortgage counselor knows his field well, he should be able to offer many solutions (and a number of that will work for you. Someone who is an expert in this field will have many strategies at his fingertips to discuss with a client.

There should not be a conflict of interest

Your mortgage consultant should not put himself in a situation where there is a conflict of interest - courtier hypothécaire. Certain banks pay an annual bonus to their employees if they get a higher rate of interest from their customers. Remember that the lender wants to make as much money as he can and you want to save as much money as possible. Your consultant should be able to help you!

A long term relationship

Look for an advisor who has a long term management approach to your mortgage situation. Such a broker will be in touch with you annually to review your situation, check on your home loan strategy and give you further advice.

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 through the years.

Take the time to find a mortgage consultant who:

• Isn’t only looking for one fast transaction
• Doesn’t just shop for interest rates - courtier hypothecaire
• Does not have a conflict of interest between you and his bank
• Saves you money with a good overall mortgage strategy

If you want to save money over the long run, this is the way to choose a mortgage counselor.

Gregory is an Accredited Mortgage Professional (AMP) with Mortgage Intelligence. If you need more information about Mortgage broker - courtier hypothecaire, visit: Hypotheque - Mortgage Intelligence