Now serving New Westminster!
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Top Mortgage Broker in New Westminster
New Westminster is the oldest city in western Canada. Over the years it has transformed into a busy, and vibrant community. With fabulous restaurants, plenty of shopping, seasonal festivals, and multiple parks, living in New Westminster will leave you with no shortage of activities, all year long.
In addition to high housing prices, the new mortgage rules launched in January 2018 have made it increasingly difficult for residents in New Westminster 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 Mortgage Brokers in New Westminster
The benefits of working with a Mortgage Broker in New Westminster are:
- 1. It’s Free
- 2. Secure the Best Rate
- 3. Access to Many Lenders
- 4. Paperwork & Details Handled for You
The best part about working with a New Westminster Mortgage Broker 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 New Westminster!
Mortgage Brokers in New Westminster are Free
A Mortgage Broker in New Westminster works directly for you, however, you’re not required to pay them a fee. Instead, they get paid by the lender, but only once your mortgage is approved and you receive the funding.
Best Rates in New Westminster
Your local bank branch likely offers mortgages, but they only offer their own products and their own rates. This doesn’t give you a lot of options to choose from. When you work with a Mortgage Broker, you have the benefit of getting access to mortgage products from a variety of lenders, ensuring that you get the best rate available.
Mortgage Brokers Know the Most Lenders
There is no one size fits all mortgage. Because of this, it is in your best interest to shop around. A Mortgage Broker will do all the shopping for you, comparing mortgages from banks and lenders (some of which are not even available at the consumer level!) to find you the best mortgage for you budget and situation.
New Westminster Mortgage Brokers Make it Easy
Buying a home can be one of the most stressful periods in a person’s life. A Mortgage Broker will walk you through the complete mortgage process, and handle all the associated paperwork on your behalf, taking all the weight completely off your shoulders.
Mortgage Broker in New Westminster – Residential Services
The fastest way to get a mortgage in New Westminster is by working with a Mortgage Broker. Our Mortgage Brokers can confidently assist with residential mortgages, first time home buyers, self-employed borrowers, investment properties, refinancing, renewing mortgages, newcomers to Canada and reverse mortgages.
Buying a Home in New West?
If you’re planning on purchasing a home in New Westminster, it is highly recommended that you work with a Mortgage Broker. A Broker will review mortgage products from multiple lenders and banks, in order to secure the best available rate and save you the most money.
First Time Home Buyers in New Westminster can Save Money
Did you know that BC first time home buyers are eligible to save money through special discounts and tax savings? Our Mortgage Brokers can help with the RRSP Home Buyer’s Plan, BC Land Transfer Tax Rebates, and the First Time Home Buyer’s Tax Credit.
Self-employed mortgage applicants typically have a harder time securing financing than a traditional salaried employee. This is because they don’t have the T4 slips that lenders use to verify income, and its sustainability. A Mortgage Broker will be able to review your situation and connect you with a lender who works with self-employed individuals – greatly increasing your chances of getting approved.
Getting a New Westminster Investment Property
Investing in a rental property is an excellent way to supplement your income. Most lenders have extremely specific requirements for financing rental properties, so it’s always recommended to have a Mortgage Broker guide you through the process. They will be able to connect you to a lender who routinely finances these types of loans, avoiding issues that you may face if you attempt to achieve financing on your own.
Refinancing in New West
The three main reasons New Westminster residents do a mortgage refinance are to access equity, consolidate debit, and take advantage of lower interest rates. If you’re interested in pursuing any of these, a Mortgage Broker can help guide you through the process and advise on how to avoid possible fees and pre-payment penalties.
Renewing your New Westminster Mortgage
One of the best times to start working with a Mortgage Broker is when your current mortgage is up for renewal. This is a golden opportunity to see if there are better rates available, and exactly what other lenders would be willing to offer you. Switching lenders may result in saving thousands of dollars per year.
Newcomers to Canada
If you plan on purchasing a home in New Westminster when you’re from a different country, there are a lot of hoops to jump though. An experienced Mortgage Broker can make this process go as smooth as possible, by connecting you with a lender who has new to Canada mortgage programs already in place.
CHIP Reverse Mortgages in New Westminster
New Westminster home owners that are over the age of 55 are eligible to apply for the CHIP Reverse Mortgage. A CHIP Mortgage is the perfect option for retirees who would like to have more money to spend each month, but do not want to downsize.
Mortgage Broker in New Westminster – Commercial Services
In the lender’s eyes, a commercial loan is often much riskier than a residential loan. This results in commercial loans being harder to secure. An experienced Mortgage Broker can help you successfully receive funding for commercial mortgages, construction mortgages, and equipment financing.
Getting a New Westminster Commercial Mortgage
In order to qualify for a commercial mortgage, a borrower needs to meet very high standards and particular criteria. This criteria is not usually made public, so working with a Mortgage Broker is the most efficient way to secure a commercial mortgage.
Building a Home in New Westminster
While mortgages are usually thought of as loans to purchase an existing house, there are also mortgages to build brand new homes. Unlike a residential mortgage, the funding for a construction mortgage is provided in multiple parts called “draws.” Each new draw is only given once an inspector confirms that the home is being build according to policy guidelines. If you’re planning on building a home in New Westminster, a Mortgage Broker can connect you with a lender who will finance the new build.
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New Westminster Mortgage Broker Reviews
Our Mortgage Experts only serve Vancouver and its surrounding areas like New Westminster. That means we are extremely familiar with New Westminster’s real estate and lending trends. You won’t find a better Mortgage Broker than us, just read the reviews!