Buying a house is one the biggest investment you will ever make. Period. Hence by spending the time and effort to find the best mortgage rate is essential in keeping your costs down, but more importantly help you meet your monthly mortgage repayments, and stay within your budget. This is where a knowledgeable mortgage broker can really help you find the best mortgage that works best for you. But before you sign anything, below are 5 simple questions you need to ask any mortgage broker.
1. What is the best interest rate I can get?
A broker earns his living or commission from financial institutions he or she can successfully sign you up with. Hence, you want to ask what is the best rate (and the best package) for your circumstance. Of course, the lower the interest rate, the better off you will be. However, before you decide, make sure the mortgage does suit you day to day living. As well, you want to make sure he is in tune with the mortgage market and acting on the best interest on your behalf. A good broker will keep you updated on rates as they change. Continue reading