How do I find a Mortgage Broker?
January 2, 2014 9:37 AM   Subscribe

I live in Vancouver and I'll be looking to buy a condo this year somewhere in Coquitlam or New Westminster. I've never bought a place before and have literally no idea what I'm doing. I'm told a Mortgage Broker is my best bet but how do I choose the right one for me?

I've done a bit of googling but I just get a bit overwhelmed with the choice and I'm not really sure what I'm looking for. Does anyone have any good advice on how tp pick a good Mortgage Broker in Vancouver?

I know my question is vague, like I say I'm new to this and I'm a bit overwhelmed with the whole process!
posted by JenThePro to Home & Garden (6 answers total) 1 user marked this as a favorite
 
Lawrie Thom has gone to great lengths for a friend who is a single mom (even giving her advice on restructuring her mortgage when she separated - even though she wasn't needing to do anything for a couple of years) and was very helpful to friends who had their bank's financing fall apart 5 minutes before closing when it turned out the Ontario-based bank had different rules than in their province. See www.bestmortgagesvancouver.com.
posted by Chaussette and the Pussy Cats at 9:41 AM on January 2


I found a broker by googling and then contacting one with good reviews.

If I were you I would ask around and see if you know anyone in your circle of friends/acquaintances/co-workers who can make a suggestion.

FWIW the broker I used was with Invis and I've used her services twice and would do so again.
posted by Snazzy67 at 9:54 AM on January 2


My guy works in this industry, I'll try to find out from him this evening some ways to find good brokers.
posted by feckless fecal fear mongering at 10:13 AM on January 2 [1 favorite]


Ask your friends who own for recommendations on who they used.
posted by NotMyselfRightNow at 11:08 AM on January 2


Are you working with a real estate agent? I was very happy with the broker my agent recommended. (Unfortunately not in your area.)
posted by rpfields at 11:08 AM on January 2


I did it all online and never even met my broker in person using True North Mortgage - I had my hand held the whole way, it was a piece of cake, and I got the best rate (True North Mortgage guarantees it and will give you $500 cash if they can't). If you decide to go with an in-person broker, check ratehub.ca for the best mortgage rate and question why they won't match that rate. Getting a rate even fraction of a percent less than somewhere else means tens of thousands of dollars saved.
posted by ajackson at 1:31 PM on January 2 [2 favorites]


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