3 Tips for First-Time Homebuyers Working with a Mortgage Broker

Get Pre-approved

Getting your mortgage application pre-approved is one of the most important steps in the process of buying a home. A mortgage broker can assist you in getting pre-approved for a mortgage by analysing your current financial standing and locating a lender that provides the most favourable terms and interest rates for your specific requirements. This will give you a better idea of how much you can spend on a house, which will help you narrow down your search and focus on homes in your price range.

Get A Grasp on the Costs

When working with a mortgage broker, it's important to know exactly what fees you'll have to pay. Brokers usually charge a commission or fee for their services. The amount of this fee or commission is usually given as a percentage of the total loan amount.