Find Your New Brunswick, Canada Mortgage Broker

The Best New Brunswick Broker Near You

New Brunswick Mortgage Trends and Broker Regulations

There are a variety of local licenses available to mortgage professionals in the province, ranging from mortgage administers to associates to brokerages. All are administered by the Financial and Consumer Services Commission of New Brunswick under the Mortgage Brokers Act, which seeks to protect the rights of local borrowers and foster a thriving and sustainable mortgage industry in the province. Along with administering four types of licenses, the FCSC monitors compliance to ensure that brokerages, brokers and associates are always acting in the best interest of the borrower. The only exception is when there's a private investor involved, in which case the same broker can not represent both the borrower and the lender in the same transaction. They also define the disclosure requirements for mortgage professionals and uphold the integrity of the industry.

Roughly 750,000 Canadians call this Eastern province home. It was among the first to form the Dominion of Canada in 1867, which laid the foundation for the rest of the country, and it has a rich maritime culture and history. It's the only bilingual province in Canada, with English and French bearing equal weight, and many French Acadians call the province home. Much of New Brunswick is covered in forest, and the economy is largely based on resources like forestry, mining and fishing. Although some New Brunswick residents live in condos and apartments, many live in single family homes and townhouses. In 2016, the largest city in the province (Moncton) was home to just 72,000 people.

Frequently Asked Questions (FAQ)

Mortgage brokers match borrowers to lenders that meet their financial situation. They are financial professionals who work with banks, monoline lenders, investors and more.

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.

They get paid through commissions by the lender. Commissions range from 0.5% to 2% of your full mortgage amount.

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.

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.

Find mortgage brokers in your city in New Brunswick

Fredericton Moncton Saint John Dieppe

Miramichi Edmundston Bathurst Campbellton

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