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Using a Mortgage Broker in Port Coquitlam
Port Coquitlam, nestled between Coquitlam and Pitt River, makes up one third of the “Tri-Cities” area. Notable highlights of the city include safe neighbourhoods, modern commercial areas, and 271 hectares of parkland. An excellent place to call home for families and singletons, Port Coquitlam was once named the third most livable city in all of British Columbia.
In addition to increasing housing prices, the new mortgage rules launched in January 2018 have made it increasingly difficult for residents in Port Coquitlam 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.
Port Coquitlam Mortgage Broker Benefits
The top benefits of working with a Mortgage Broker in Port Coquitlam are:
- 1. It’s Free
- 2. Get the Best Rates
- 3. Access to a Variety of Lenders & Banks
- 4. All the Paperwork is Done for You
- 5. You’ll be Guided Through the Entire Process
One of the best things about working with a Mortgage Broker in Port Coquitlam 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 Port Coquitlam!
Mortgage Broker Services are Free
A common misconception about Mortgage Brokers is that they always charge for their services. This is completely untrue! Although a Mortgage Broker works for you, their fee is paid by the lender, but only once your mortgage is approved and financed.
Get the Best Rates with a Mortgage Broker
Because they work with so many lenders, Mortgage Brokers are able to access many different rates. This gives you the best chance of securing the lowest rates, compared to stopping by your local bank branch, who only offer their own mortgages and rates.
Access to Many Lenders
One of the best things about Mortgage Brokers is that they have a huge network of lenders and banks at their fingertips. By working with them, you gain access to lenders who cannot be reached at the consumer level.
Mortgage Brokers Walk you Through the Entire Process
When you’re making one the biggest purchases of your life, it is important to know exactly what you’re signing up for. A Mortgage Broker will walk you through all the ins and outs of your mortgage and payment requirements.
Port Coquitlam Mortgage Brokers Handle all Your Paperwork
The amount of paperwork and documentation that gets sent back and forth during the mortgage process is overwhelming and time consuming. A Mortgage Broker takes this hassle completely off your hands. They know exactly what information to collect from you, who it needs to go to, and submit it all on your behalf.
Port Coquitlam Mortgage Broker Video Transcript
Port Coquitlam is one of the most sought after regions in the Tri Cities area, and over the last few years it’s seen one of the biggest influxes of young families. Port Coquitlam is also becoming increasingly trendy, and is one of the prime purchasing areas for millennials, as Kitsilano’s prices are now deemed out of reach by the majority of young buyers. Port Coquitlam borders the Fraser River, and provides easy access to hiking, shopping, and prime real estate and is projected to experience strong, continued growth.
With new real estate developments struggling to keep up with demand, we’re currently seeing an enormous amount of Port Coquitlam real estate changing hands. Which means current residents (and prospective buyers) are seeking mortgages – the most popular method, is using a Port Coquitlam Mortgage Broker.
Port Coquitlam (just like the rest of Vancouver) has been affected by strong growth, which led the federal government to implement stress tests for buyers. Coupled with these additional lending hoops buyers must jump through, interest rates are experiencing a strong fluctuation. These two parameters are greatly affecting home buyers.
We’re seeing one of the largest discrepancies in lending rates among financial institutions, and with such high lending amounts, even just a few fractions of a percentage point can amount to tens of thousands of excess, unneeded interest payments over the lifetime of your mortgage.
That’s why mortgage brokers are so popular in Port Coquitlam. Mortgage brokers do all the work, and can almost always get you approved at a lower rate than you would yourself. They have purchasing power, which they use as leverage to grind down top quality mortgage lenders. Working with a mortgage broker in Port Coquitlam is also 100% free. That’s right, you don’t pay anything – all the brokerage fees are paid for by the lending institution.
It makes you think – why aren’t more people using Port Coquitlam mortgage brokers? They are! The trend is on the rise because there are so many benefits for buyers. Here at Vancouver Mortgage, we work locally in Port Coquitlam, with local, experienced personnel, that understand the real estate market, lenders, mortgage rules, and can get you approved at a great rate. So why not give us a call? Our reviews are fantastic. We’ll hear from you soon!
Mortgage Broker Port Coquitlam – Commercial Lending
Commercial loans can be complex and difficult to get approved because lenders often view companies as riskier to lend to than individuals. Our Mortgage Brokers have experience getting commercial loans funded and can confidently assist you with commercial mortgages, construction mortgages, and equipment leases.
To receive a mortgage for purchasing business real estate, the borrower must prove that they are up to the lender’s extremely high standards and fit their very specific criteria. Our Mortgage Brokers know exactly what lenders are looking for, and can help you get approved much quicker than would be possible on your own.
Building a New Home in Port Coquitlam
While mortgages are usually associated with already existing homes, mortgages can also be taken out to build a new home. Instead of receiving financing as a lump sum, a construction mortgage is given in separate draws. Each draw is given only once an inspector has confirmed that the build is going according to the plans and is meeting policy guidelines.
Getting Equipment Leasing
Purchasing brand new equipment can cause financial hardship for small business owners. Instead of having to choose between up to date equipment to help their business grow or savings in the bank – business owners have the option of leasing their equipment. Equipment leasing allows business owners to have up to date equipment for growing their company, without facing a large financial strain.
Residential Mortgages with a Port Coquitlam Mortgage Broker
Moving to a new home is stressful, but getting a mortgage doesn’t have to be! An experienced Mortgage Broker makes the entire mortgage process as smooth as possible, so you can focus on more important things, like getting settled into your new home. Our Port Coquitlam Mortgage Brokers assist with residential mortgages, first time home buyers, investment properties, self-employed individuals, refinancing, reverse mortgages, newcomers to Canada, and mortgage renewals.
Mortgage Brokers Help Home Buyers Save Money
Buying a home is expensive, so you want to make sure you’re getting the best rate available. A Mortgage Broker has access to multiple lenders and reviews all their rates, only bringing you the best of the best.
First Time Buyers in Port Coquitlam
Did you know that you’re eligible to save thousands of dollars if you’re a first time buyer? Our Mortgage Experts are well versed in the RRSP Home Buyer’s Plan, Land Transfer Tax Rebates, and the First Time Home Buyer’s Tax Credit – ensuring that none of your hard earned money gets left on the table!
Investment Properties in Port Coquitlam
An excellent source of extra income, getting a mortgage for rental property often poses a challenge for buyers. This type of loan can come with many catches and requirements (some lenders won’t approve the loan unless you plan on living in one of the rental suites). A Mortgage Broker can help connect you with the perfect lender who will work with your specific situation.
Generally speaking, self-employed home buyers have always had more of a challenge securing a mortgage than salaried employees. This is due to their income being harder to verify. Mortgage Brokers have access to many lenders, some of which offer self-employed mortgages, greatly increasing your chance of approval.
Mortgage Brokers Know the Best Way to Refinance in Port Coquitlam
The top reasons for refinancing a mortgage is to consolidate debt, access equity, and to take advantage of lower mortgage rates. If any of these are of interest to you, a Mortgage Broker can help guide you through the process, and advise on how to avoid possible fees and pre-payment penalties.
Why Seniors are Turning to Brokers for Reverse Mortgages
More retirees than ever are taking advantage of the CHIP Reverse Mortgage to access equity in their home. The best part of this program is that the funds you receive are tax free, and can be spent on anything you like!
New to Canada?
Buying a home is one of the most stressful times in a person’s life, even more so if you are coming from a different country. If you’re a newcomer to Canada, a Mortgage Broker can make the process of getting a mortgage much, much easier, by connecting you with a lender who has special programs in place for buyers that are new to Canada.
If your mortgage renewal date is coming up or you’ve already received the renewal notice, don’t sign it! This is the perfect time for you to review your current mortgage and talk to a Mortgage Broker about what your options are. Since the time of signing your existing mortgage, you may now be eligible for a better rate with a different lender.
Mortgage Broker Port Coquitlam Reviews
Our professional team of Mortgage Brokers only serves Vancouver and its surrounding areas like Port Coquitlam. That means our Brokers are extremely familiar with the city’s real estate and lending trends. You won’t find a better Mortgage Broker in Poco than us, just read our Port Coquitlam mortgage broker reviews!