Montreal Mortgage Loan Specialist
My success as a mortgage broker has come in large measure from a relentless commitment to offering the lowest interest rates and providing the finest mortgage service in Montreal Quebec. For your home purchase, mortgage refinance, debt consolidation or bad credit mortgages, I’ve prepared this website with the same degree of commitment.
Danuta Levitzki Worozanska - Montreal Mortgage Loan Specialist – HYPOTHECA AC
Montreal Mortgage Brokers
Questions you must ask the mortgage broker when applying for a home loan.
Because of the many of choices you will have when you go to obtain a mortgage loan, you need to ask some specific questions before choosing a lender. Below are key questions to ask potential Montreal mortgage lenders before you enter into a business relationship with them regarding your home purchase or refinance of your current mortgage.
1. Why should I choose you as my Mortgage Lender?
All Montreal mortgage brokers say the same thing. “We have the best service.” “We offer the lowest rates.” The truth is, any mortgage lender should offer decent service and low rates. This is why you should be looking for something unique.
Ask yourself this question: “What can this lender give me that no one else can”. You should look for a lender who offers special services that go above and beyond the normal service.
2. How long have you been in the mortgage loan business?
Your loan officer may be new to mortgage lending, and that's okay, as long as he/she is a knowledgeable and professional broker.
3. What type of loan do you have on your property you own?
Ask what kind of loan he/she has and why. Montreal mortgage brokers will take the most beneficial mortgage option loan and mortgage rates for their own property financing.
4. What type of educational experience you have and what is your background in the mortgage industry?
As you would do with any other professional, such as lawyer, doctor, or certified accountant, ask mortgage lenders to explain their qualifications.
Contact 1888PretHypothecaire.com’s Montreal Mortgage Brokers.
5. What origination points will I be charged?
Often lenders may charge prepaid mortgage interest points. Find out the kind of points they will be and their effect on your loan.
6. Is there a prepayment penalty on this loan?
Prepayment penalties may be added to lower the loan's interest rate. Make sure that if your loan has a prepayment penalty, you are aware of the terms and conditions.
7. What is the lowest total cost loan over the time I plan to stay in the home?
The answer to this question can save you many thousands of dollars. It will give you the true bottom-line answer.
8. What is the minimum down payment of this loan?
A typical down payment is between 5 and 20 percent of the loan amount. The more money you can put down, the better your chances are of being able to lower your rate and improve your loan terms. Often, if you are unable to make a down payment of 20% of the loan amount, you will be required to pay mortgage insurance (CMHC Insurance).
See 1888PretHypothecaire.com’s Mortgage Loan Partners.
How long does it take to process a loan?
It can take as little as 10 days, to as long as 60 days or more. Be sure to have the lender give you the most accurate timetable possible so you can determine how far out you need to lock your interest rate.
Do you have questions?
will help you to find the right answer.
| Articled published on February 16th, 2010 1888PretHypothecaire.com - Montreal Mortgage Brokers |
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