The expertise of your mortgage advisor

An important component of the confidence that you should have in a mortgage advisor (courtier hypothécaire) comes from his expertise.

New lenders come onto the mortgage market in Canada every year, at least six new ones in 2006 alone. Other lenders add and change products constantly. There are hundreds of home loan 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 full comprehension of the many things that influence interest rates, and is able to clearly explain all of the nuances of the interest rate market to potential borrowers.
• Completely understands the whole range of mortgage products that are in the market and can compare them readily. He is able to state, for example that: “XYZ lender had the best variable rates right now, but the credit margin is better with ZYX bank for the following reasons…” - courtier hypothecaire
• He is able to compare the best rate around for each lender at any time and can present your application to the one with the best offer.
• He tries to be aware of your situation and your objectives.
• He shares every concept with you that will help you repay your mortgage (courtier hypothécaire) as quickly as possible.
• He has the designation of an Accredited Mortgage Professional (AMP) from the Canadian Association of Accredited Mortgage Professionals - courtier hypothecaire
• His company has a large volume of home loans (many millions of dollars of mortgage loans each year - courtier hypothecaire).
• He clearly and easily can discuss the newest mortgage concepts.

Something new that has changed in the mortgage market is that many mortgage advisors are specializing in a given area of the mortgage market.

You can find a specialist for:

• Mortgage strategies for clients who have a good credit history
• Self employed who cannot substantiate their revenue
• Less than perfect credit applications and mortgages for those who have declared bankruptcy
• Specialist in construction loans - courtier hypothecaire
• Mortgages for income property

This concept allows a mortgage consultant to be an expert in a certain area. This is becoming more important as the field of home loans becomes more competitive as well as more complex. I think more and more mortgage consultants will start to become specialists 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 advisor (courtier hypothécaire) will be a great help and can help you save thousands of dollars.

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Gregory is an Accredited Mortgage Professional (AMP) in Canada. To have more information on Mortgage Broker - Courtier hypothecaire please visit: Hypotheque | Mortgage