Is buying a dream home your ultimate goal? It is often one of the reasons many people work countless hours trying to climb the corporate ladder or pile up those overtime hours. They want to get enough money for that all important down payment.
However, once you have the money for the down payment what would you do to find a home loan? Many visit the bank they deal with and ask for a loan. In most cases, the bank would consider it if you have been banking with them for a while and meet the loan criteria. However, there are many occasion that they would say that you don’t meet their criteria. So what would a person do in this situation? Do they give up on their dream? Of course not. There are many financial institutions that provide mortgages, and they all have different criteria for granting a loan.
A working individual does not have the time to go to every bank in his area. That is where a mortgage adviser would come in handy. A mortgage adviser is a person who is capable of finding a loan for a person based on his or her current situation; They are experienced in this field and need to be licensed to offer their services. A Mortgage adviser would assess your information including your salary, credit rating and the value of the property you want to buy. With this information, he will go shopping for a loan for you. And when he has found one or several options that would suit your situation he will discuss the best one that suits you.
Please remember a mortgage adviser get’s paid by the lending institution so you would not have to pay him for finding you a loan. He gets a commission from the bank for getting them loan customers. He is also required to divulge the commission he will receive from getting you a loan, should you ask.
Let a mortgage adviser do the work of finding the right loan for you, and you can keep working and making more money for you and your family.