Why expertise is a most important quality of any mortgage consultant.

One of the most critical factors of the confidence you need to have in your mortgage advisor (courtier hypothécaire) will be due to his expertise.

New lenders come onto the mortgage market in Canada each year, at least six new ones in 2006 alone. Other lenders add and change products constantly. There are hundreds of mortgage products on offer in Quebec. Following and understanding all of these developments takes study and the devotion of a lot of time and effort - courtier hypothécaire.

Signs of expertise in a mortgage broker

• He discusses all of the possible strategies for a borrower, rather than focus on a mortgage product.
• Has a full understanding of the many things that influence interest rates, and can clearly explain all of the nuances of the interest rate market to potential borrowers.
• Completely understands the entire range of mortgage products that are in the market and can compare them easily. He is able to state, for example that: “XYZ bank had the best variable rates right now, but the credit margin is better with ZYX lending institution for the following reasons…” - courtier hypothecaire
• He can make analyses and comparisons between dozens of lenders to find the right one for a borrower.
• Realizes it is important to understand the client’s “big picture”
• Is able to provide various options for mortgage strategies - courtier hypothecaire, so that the client can choose the one that works best for him to pay off his mortgage quickly.
• He is an AMP (Accredited Mortgage Professional), so designated by the Canadian Association of Accredited Mortgage Professionals - courtier hypothécaire
• His firm has a very large volume of home loans, in the millions of dollars per year.
• He knows all of the new mortgage ideas that are in the market, and has the ability to explain them in layman’s terms to his clients.

The newest development that we are seeing in the mortgage world is the tendency for mortgage consultants to specialize in a given area of the home loan market.

Today, there are specialists in each of the following situations:

• Mortgage strategy for those with good credit - courtier hypothécaire
• Mortgage strategy for the self employed (no formal documentation of earnings)
• Mortgage strategy for not so perfect credit (even bankruptcy)
• Construction loan strategies
• Mortgage strategies for income property

This concept allows a mortgage consultant to be an expert in a certain field. This is becoming more important as the mortgage field becomes more competitive as well as more complex. I think more and more mortgage consultants will start to specialize in this way - courtier hypothécaire. Better to be a master of one trade than a jack of all trades and master of none!

The expertise of your mortgage consultant (courtier hypothécaire) will be a great advantage for you and can help you save thousands of dollars.

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