A report by the Realtors Association of Edmonton states that Alberta boasts of the highest number of population in the first quarter with a 0.4% increase. Investment in oil sands projects too has seen a surge and about $180 billion is likely to be invested in the coming decade. This inadvertently means more jobs and more people looking for homes. This is indeed the right time to look for a mortgage broker in Edmonton. Heres a quick guide on the points to look for in a mortgage broker.
The first and foremost thing to look for is to check if the broker is registered with the Alberta Mortgage Brokers Association. Being a member of AMBA entails the mortgage broker to be educated on the standard operating procedures, and on the recent changes in the why not try these out .
Experience too is an important factor when looking for Edmonton mortgage brokers. A well experienced broker is aware of the nuances in the loan approval process and shall guide an applicant to the right bank. There are plenty of fly- by-night operators who function without basic facilities. Make sure that the broker has an office, is professional and has enough knowledge about the market. Most mortgages last for more than 10 to 15 years and hence your choice of a mortgage broker in Edmonton can influence your decision for a major part of your life.
You can ask for references from friends and family. Financial experts and realtors too would be aware of mortgage brokers. These experts are sure to know about the brokers track record. If they arent aware of the track record you can always feel free to directly ask the broker for his credentials.