Our mortgage broker listens to all of your needs and provides you with the best solution for your loan requirements. You will get right home loan features and rate according to your needs and budget. There is no mortgage broker upfront cost, and we will make sure you get all the information you need for your loan. At Challenge My Rates we build strong relationships with our lenders to negotiate loans that you might not find via banks. You will notice the difference when your mortgage is being arranged by our professionals.
What a Mortgage Broker Does for You?
A mortgage broker will first understand your personal goals and your financial situations and based on that gives you the clear picture of the most suitable loan and rate of interest.
Using this data your mortgage broker will advise you on how much you can borrow.
Your mortgage broker will find the best options for you if you are ready to move ahead, and will explain to you each option in detail to give you choice.
Once you decide which loan to proceed with, our mortgage broker will prepare the application and present it to the lender on your behalf. Thus you will be at peace that your application has been submitted successfully, and professionally.
You can then start searching for a new home with your pre-approved loan.
We will take care of you through the entire process and ensure a smooth settlement and beyond.
Who pays the mortgage broker?
Mortgage Brokers are normally paid by lenders on a commission basis. This is usually 0.5 to 0.6 percent of the settled amount of loan. Then as the loan continues, a small amount is paid based on the remaining loan amount.
The advantage of this system is that the lender will pay the mortgage broker and there is no upfront cost to you, and you also get professional help to guide you through the whole process.