Looking for the best New Glasgow 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.
New Glasgow, Nova Scotia is the perfect place to call home. 20,609 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 10 square kilometers, alongside many popular arts, culture and recreation facilities.
New Glasgow Mortgage Agents and Nova Scotia Brokers
Mortgage brokers in Nova Scotia are licensed under Service Nova Scotia, under the Mortgage Brokers and Lenders Registration Act. This licensing is meant to regulate the information available to borrowers on both a transactional and annual basis, to limit the levying of pre-payment penalties, and to protect the borrower's right to refinance. Mortgage brokers must renew their license each year, with an annual fee due to the Ministry of Finance.
Despite being one of the smallest provinces, Nova Scotia is also one of the most population dense. This Atlantic province is known for stunning coastlines, puffins, and delicious seafood. Just under a million Canadians call this maritime province home, with about 400,000 living in the provincial capital of Halifax. Other top towns include Truro, Cape Breton and Amherst. Like other eastern provinces, the economy is resource-based with many Nova Scotians working in fishing, mining, agriculture and forestry.
Benefits of New Glasgow Mortgage Brokers
If you're ready to buy or refinance a home in New Glasgow, don't limit yourself to your local bank. Here are a few reasons why a growing number of New Glasgow home buyers are turning to local mortgage brokers and agents to navigate all their home financing options, and find the rates and lenders that work best for them:
Local insights — there's no substitute for local market context when it comes to the real estate and mortgage industry. New Glasgow mortgage brokers live and work in the same neighborhoods as the home buyers they serve, and as a result, they have a wealth of knowledge and connections to draw from.
More information — Why settle for one rate or lender when there are plenty of other options available? Mortgage brokers in New Glasgow, Nova Scotia have access to a wide array of mortgage products and rates from a range of lenders. Knowledge is power!
Efficiency — Your mortgage broker only needs to access your credit report once, but they're able to explore tons of rate options for you. If you shop for rates alone, you'd be subjecting yourself to multiple credit score checks.
One Stop Shop — They can handle all the negotiations for you, and introduce you to other local, trusted real estate professionals who can help you navigate the home buying or refinancing process.
It's Free — Mortgage brokers in New Glasgow, Nova Scotia are always paid by the lender, if the transaction completes, so there's literally no cost to explore your options.
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.
Not looking for New Glasgow? See brokers in Nova Scotia