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Mortgage Broker Abbotsford
Because of its affordability compared to Vancouver, Abbotsford is becoming more and more popular for first time home buyers. By area, it is the largest city in British Columbia, and boasts beautiful views of both Mount Baker and the Coast Mountains.
Expensive home prices coupled with the new mortgage rules launched in January 2018 have made it increasingly difficult for residents in Abbotsford to secure a Mortgage. Working with a Mortgage Broker is the absolute best way to maximize your chances of getting approved, and secure the most affordable mortgage for your budget.
Benefits of Working with an Abbotsford Mortgage Broker
The top 4 benefits of working with Mortgage Broker in Abbotsford are:
- 1. There is no fee
- 2. Get the best rate available
- 3. Access products from many banks and lenders
- 4. The broker handles all details and paperwork for you
The best part about working with a Mortgage Broker in Abbotsford is that they save you money! A Mortgage Broker works for you (not the lender), and their goal is to connect you with a lender who has the most suitable mortgage for your needs and will save you the most money.
Vancouver Mortgage is now serving Abbotsford!
Your Mortgage Broker in Abbotsford is Free
Did you know that a Mortgage Broker works directly for you, but you don’t need to pay them? A Mortgage Broker gets paid by the lender, but only once they’ve secured your mortgage!
Get the Best Rate
Your local bank in Abbotsford likely offers mortgages, but they only offer you “their” rates. A Mortgage Broker has access to rates from many different lenders, ensuring that you get the lowest rate available.
Access to Many Lenders and Banks
As mentioned above, your local bank has mortgages, but they only offer their own products – which seriously limits your options. When you work with a Mortgage Broker you are able to choose between products from multiple banks and lenders.
They Take Care of the Details
The time between application and funding your mortgage is full of paperwork. A Mortgage Broker can handle all the paperwork on your behalf, making sure all documents are submitted to the correct individuals on the lender’s end.
Mortgage Broker Abbotsford Reviews
Our professional team of Mortgage Brokers only serves Vancouver and its surrounding areas like Abbotsford. That means we are extremely familiar with Abbotsford’s real estate and lending trends. You won’t find a better Mortgage Broker than us, just read our Abbotsford Mortgage Broker reviews!
Abbotsford Mortgage Broker Video Transcript
Abbotsford has undergone some of the largest changes in BC over the last 30 years. Once classified as a farming focused, slow paced township, Abbotsford is now far from it. With booming new developments and modern infrastructure, young families and down sizers alike are relocating to spacious, affordable homes located within a reasonable distance of the Vancouver Core.
Purchasing a home for Abbotsford (or future Abbotsford residents) is still not without it’s problems. The federal government implemented a series of mortgage lending stress tests in an attempt to cool the housing market that all lenders are mandated to follow. As a side effect of these rules, mortgage application declines are at an all time high, even for those applicants with a great record of employment and strong credit.
In addition to the more difficult lending rules, interest rates are fluctuating at an all time high, rivaling the economic crisis of 2008. This fluctuation has caused a wide variation in mortgage interest lending rates among top quality lenders. This is very problematic for consumers, because if they don’t do their due diligence, they could be paying up to one hundred thousand dollars in excess interest payments over the lifetime of their mortgage.
That’s why so many residents are using an Abbotsford mortgage broker. A mortgage broker offers many advantages, and can almost always get you approved at a lower rate than you’d pay normally – even at your local, day to day banking financial institution. How a mortgage broker works is simple. They will collect some of your basic information, then contact top quality lenders that they regularly work with, and negotiate on your behalf. Once they’ve collected all the offer sheets, the mortgage broker will present them to you, to make the final decision.
What’s even better is that working with an Abbotsford mortgage broker is free, as it’s the lenders that pay the mortgage broker fees, not you, the client. It makes you think, why aren’t more Abbotsford residents using a mortgage broker?
They are. The trend is on the rise, and for good reason. Here at Vancouver Mortgage, we’re one of the fastest growing mortgage brokers in Abbotsford. Not only do we have a dedicated, experienced team of professionals that understand the lending industry inside and out, we’re fully certified, and operate locally. We’re one of the most popular choices in Abbotsford – just read the reviews!
Residential Lending with Mortgage Brokers in Abbotsford
Buying a home is stressful, but getting a mortgage doesn’t have to be. Our friendly Abbotsford Mortgage Brokers can confidently assist with residential mortgages, first time home buyers, mortgage renewals, refinancing, reverse mortgages, self-employed borrowers, investment properties, and newcomers to Canada.
Buying a Home in Abbotsford?
One of the first steps of buying a home should always be to speak with a Mortgage Broker. A Mortgage Broker will connect you with a lender that can provide the best rate, so you can get the most house, for your money.
Mortgage Brokers Help First Time Buyers in Abbotsford
Are you thinking of buying your first home? If so, you’re eligible for programs that save you money! A Mortgage Broker can help you navigate through the RRSP Home Buyer’s Plan, First Time Home Buyer’s Tax Credit, and the Land Transfer Tax Rebate.
Save Money on Your Renewal
If your mortgage is up for renewal, it is highly recommended that you speak to a Mortgage Broker. This is the perfect opportunity for you to find out what other lenders will be willing to offer you. By simply moving your mortgage to a new lender, you could save thousands of dollars each year!
Refinancing made Easy
Anyone who wants to consolidate debt, access equity in their home, or take advantage of lower interest rates should speak with a Mortgage Broker about refinancing. They can guide you through the process and advise on how to avoid fees and prepayment penalties.
Mortgage Brokers make Abbotsford Reverse Mortgages Simple
Homeowners in Abbotsford over the age of 55 are qualified to apply for a CHIP Reverse Mortgage. This program is an excellent way for seniors to supplement their monthly income, without having to downsize.
Self Employed Borrowers: Why You Should Talk to a Mortgage Broker
Did you know self-employed individuals are more likely to be turned down from a lender than a salaried employee. Even if you’re making a great income, without a T4 slip it can be difficult for lenders to confirm that income and its sustainability. While getting a self-employed mortgage may be more difficult, it’s not impossible! By connecting you with a suitable lender (who routinely works with self-employed borrowers) a Mortgage Broker can make this process as painless as possible.
Stress Free Abbotsford Investment Properties
Investing in a rental property is a fantastic way to supplement income, but borrowers should be aware that financing rental properties isn’t always easy. (Some lenders won’t approve the mortgage unless you plan on living in one of the units!) The best way to start the process of having your own investment property is to work with an experienced Mortgage Broker, who can access their directory of lenders and find you a suitable match for your circumstances.
New to Canada?
Buying a house is stressful in general, but buying a house when you’re from a different country comes with a whole new set of rules and regulations. One of the best things about working with a Mortgage Broker, is that they routinely work with new to Canada borrowers, and will be able to connect you with a lender who has special programs designed for newcomers to Canada.
Mortgage Broker Abbotsford – Commercial Services
Commercial lending differs from residential in that the borrower typically tends to be a company, and not an individual. This causes the financing process to be a lot more complex. Our Mortgage Brokers are well versed in commercial lending and can help you set up equipment leasing, construction mortgages, and commercial mortgages.
Up to date equipment is essential for scaling a business, but it can really take a toll on a business owners bank account. Instead of paying out of pocket for brand new equipment, you have the option to lease new equipment for a monthly payment. This allows you to have new equipment every time technology changes, without detrimentally effecting your bank account.
Abbotsford Construction Mortgages
Building a new home is expensive, and most people don’t have the funds to pay for all the costs up front. This is where a construction mortgage comes into play. Mortgage Brokers have access to lenders who specialize in mortgages for building homes. This type of mortgage is paid in portions called “draws,” with each new draw given at a different stage of the building process.
Abbotsford Commercial Mortgages
Commercial mortgages tend to come with complex sets of rules and regulations. To improve the chances of getting your commercial mortgage approved, it is highly recommended to work with a Mortgage Broker, as they can help you ensure that you are meeting all of the lender’s very specific criteria.