Looking for the best Fort St. John mortgage broker? Contact a local mortgage professional; they are your best source for local mortgage options. Find one near you to answer your questions and provide you with an overview of the rates and options offered by lenders and banks across Canada.
Fort St. John, British Columbia is the perfect place to call home. 18,609 people currently live in single family homes, condos and townhouses in this lively Canadian city, and an increasing number are relying on local mortgage brokers to discover the best rates and lenders for their home-buying needs. Real estate is spread across 22.69 square kilometers, alongside many popular arts, culture and recreation facilities.
The Financial Institutions Commission of British Columbia plays an important role in establishing the standards for mortgage professionals in the province. Local organizations like FICOBC protect the integrity of the industry and ensure that the mortgage professionals in BC are sufficiently educated and participating in sound broker practices. Perhaps most importantly, they protect home buyers from misconduct under the Mortgage Brokers act.
The most popular places to get a mortgage in British Columbia these days are in cities like Vancouver, Surrey, Burnaby, Richmond and Abbotsford. In total, 4.6 million residents call the province home — a number that has quite literally doubled since the mid 1970s! This, along with a mild climate, strong economy, and an endless supply of incredible terrain for outdoor enthusiasts to explore, help explain why it’s one of the most expensive real estate markets in Canada these days.
If it’s your first time buying or refinancing a home, you probably have a lot of questions. But don’t worry, there are lots of local real estate professionals who can help! Your local mortgage broker can help introduce you to their network of trusted professionals, such as:
A lot of the services above fall within closing costs. It's important to keep closing costs in mind so that you don't go over budget. You can read more about closing costs here.
What exactly does a mortgage broker do?
Mortgage brokers match borrowers to lenders that meet their financial situation. They are financial professionals who work with banks, monoline lenders, investors and more.
Is it worth using a mortgage broker?
A mortgage broker can help you access rates and lenders that aren't readily advertised to the market. They can shop the market for you without hurting your credit score with multiple checks.
How does a mortgage broker get paid?
They get paid through commissions by the lender. Commissions range from 0.5% to 2% of your full mortgage amount.
Do mortgage brokers charge a fee?
Mortgage brokers don't typically charge a fee as they are paid by the lender. However they may charge an additional fee if your financial circumstances are more complex than the typical borrower.
When should you consult a mortgage broker?
It's best to meet with a mortgage broker before you start shopping for a home. A broker can set a realistic expectation of what you can afford and give you a pre approval. Realtors are more likely to work with you if you have a pre approval as it narrows down the budget which you can afford.