Looking for a Mortgage Broker who truly rocks? Here are some key questions to ask and red flags to watch out for to ensure you're working with the best in the biz!
Due Diligence Questions
- Experience Check: How long have you been a licensed Mortgage Broker?
- Commitment: Are you full-time or part-time?
- Specialization: What mortgage types do you specialize in?
- Network: How many lenders do you have access to?
- Selection Process: How do you select a product to recommend?
- Staying Informed: How do you keep yourself informed about market trends and changes?
- Compensation: How are you paid?
- References: Can you provide three referrals?
Red Flags to Watch Out For
- Evasion: Did they dodge any of your questions?
- Transparency: Did they provide written documentation, or was it all just verbal promises?
- Limited Options: Did they offer limited choices without fully understanding your needs?
- Discouragement: Were you discouraged from discussing their proposal with a third party?
- Referral Feedback: When you called their referrals, what did they say?
Additional Tips
- Communication: How promptly do they respond to your inquiries? A great Broker is always communicative.
- Education: Do they take the time to educate you about the process and your options?
- Reviews and Ratings: Check online reviews and ratings. What are others saying about their experience?
- Gut Feeling: Trust your instincts. If something feels off, it probably is.
Finding a Mortgage Broker who ticks all the right boxes can make your home-buying journey smooth and stress-free. If you’ve read this far then you’re the kind of client I’d love to work with, call me today!