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Richmond Mortgage Broker
Richmond, a coastal city of approximately 218 000 people has one of the highest immigrant populations in Canada. More than 60% of Richmond residents are of Asian descent. Because of its distance from the mountains, Richmond does not experience extreme temperatures and in Winter months often gets little to no snow.
In addition to high housing prices, the new mortgage rules launched in January 2018 have made it increasingly difficult for residents in Richmond 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.
What are the Benefits of Working with a Mortgage Broker in Richmond?
The top benefits of working with a Richmond Mortgage Broker are:
- 1. There are no fees
- 2. Secure the best rate
- 3. Access to top tier lenders
- 4. All the paperwork is done for you
- 5. You’re guided through the entire process
The best part about working with a Richmond 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 Richmond!
Richmond Mortgage Brokers are Free
Even though a Mortgage Broker works directly for you, you don’t have to pay them a fee. They connect you with a suitable lender and only get paid once your mortgage is approved, and you receive funding.
A Mortgage Broker in Richmond BC has Access to the Best Rates
While your local bank branch offers mortgages, they only offer their own rates – which doesn’t leave you much to choose from. When you work with a Mortgage Broker, you have the benefit of getting access to rates from a wide range lenders, so you can secure the best possible rate available.
Access to a Range of Lenders and Banks
There is no one size fits all mortgage, so it makes sense to shop around. A Mortgage Broker will do all the shopping for you, reviewing mortgages from banks and lenders (some of which are not even accessible on the consumer level!) to find the perfect mortgage for your unique situation.
They handle all the Paperwork on Your Behalf
The amount of paperwork required to finance a mortgage can be extremely overwhelming to a lot of people. Mortgage Brokers can take all of the paperwork off your plate, requesting any required documents from you and submitting them on your behalf to the required individuals on the lender’s end.
The Entire Process is Easier
Buying a home can be one of the most stressful times during a person’s life. Having a Mortgage Broker to guide you through the complete mortgage process can help take all of that weight off your shoulders, knowing that everything is being taken care of.
Richmond Mortgage Broker Reviews
Our professional team of Mortgage Brokers only serves Vancouver and its surrounding areas like Richmond BC. That means we are extremely familiar with Richmond’s real estate and lending trends. You won’t find a better Richmond Mortgage Broker than us, just read the reviews!
Richmond Mortgage Broker Residential Services
The easiest way to secure financing for a residential loan is by working with a qualified Richmond Mortgage Broker. Our experts can help you secure funding for residential mortgages, rental properties, first time home buyers, self-employed individuals, refinancing, renewals, new to Canada buyers, reverse mortgages for retirees.
Getting a Residential Mortgage
If you’re ready to buy a new home in Richmond, the best thing you can do is speak with a Mortgage Expert to help you find the right mortgage. A Mortgage Broker will review mortgages from a wide variety of lenders, to secure the best available rate and save you money.
Buying an Investment Property?
Investing in rental property is a great way to supplement income. Because lenders have very specific criteria for financing investment properties, it’s always recommend to have a Mortgage Broker help you secure the financing. They will be able to connect you with a lender who routinely finances investment properties, avoiding any possible issues.
First Time Buyers in Richmond
Did you know that if you’ve never purchased a home before you’re eligible for special discounts and tax savings? A Mortgage Broker can help with Land Transfer Tax Rebates, RRSP Home Buyer’s Plan, and the First Time Home Buyer’s Tax Credit – saving you up to thousands of dollars!
Why Self Employed Borrowers are Turning to Mortgage Brokers
Self-employed buyers almost always have a harder time securing financing compared to traditional employees. This is because most lenders depend on T4 slips to prove an applicant’s income and sustainability, but self-employed individuals do not receive these slips. A Mortgage Broker can work with your case and connect you with a lender who DOES approve mortgages for people who are self-employed.
Mortgage Renewal Time
If your mortgage term is nearing its end make sure not to speak to a Mortgage Broker before signing the renewal with your current lender! This is the perfect opportunity for you to see what other mortgages you qualify for, and what other lenders are willing to offer you – likely a better rate!
New to Canada? A Richmond Mortgage Broker can Help
If you’re moving to Richmond from another country, a Mortgage Broker can help make the home buying process a little less stressful. Our Mortgage Brokers have experience with new to Canada buyers, and will be able to connect you with a lender who has programs and mortgages designed specifically for newcomers to Canada.
Refinancing is Easier
Refinancing a mortgage is a great way to consolidate debt, access equity in your home, or take advantage of lower interest rates. Having a Mortgage Broker help you refinance is the best way to avoid fees and possibly hefty prepayment penalties.
Richmond homeowners over the age of 55 are eligible for the CHIP Reverse Mortgage. This program is fantastic because it allows homeowners to access some of the equity in their home, and spend it on whatever they like!
Mortgage Broker in Richmond BC – Commercial Services
Securing commercial financing is much trickier than residential financing because lenders perceive these loans as higher risk. A Richmond Mortgage Broker can easily assist with commercial mortgages, construction mortgages, and leasing equipment.
Funding Commercial Mortgages in Richmond
As stated above, securing commercial financing can be very complex. Lenders have very strict guidelines and criteria that must be met in order for them to approve an application. The easiest way to have a commercial mortgage approved is by working with a Mortgage Broker. They will know exactly what steps to take, and how to make sure you meet the required criteria.
Building a New Home? Why You Should Connect with a Mortgage Broker
Building a home is expensive, and most people don’t have the funds to pay for it out of pocket. That is where a construction mortgage comes in. Different than a residential mortgage, a commercial mortgage is paid out in separate stages called “draws”. Each draw is only given once an inspector has confirmed the building is progressing as it should, and it line with the policy guidelines.
Leasing Equipment in Richmond
Purchasing new equipment every time technology changes can be financially draining for a company. Instead of choosing between old equipment and a topped up bank account, business owners have the option to lease their equipment. Leasing equipment allows you to keep up with the times and grow your business, without feeling a financial struggle, as flexible payment plans are available.