What Can A Mortgage Broker Do For You?
So you’re looking to buy a place but don’t know enough information about the mortgage process (fixed rate, closed rate, open rate etc) and you’re unsure of just how much money you’ll need. You obviously want to get the best rate and best deal possible (of course you do, who wouldn’t?).
The first step is understanding what a Mortgage Broker is.
What Is A Mortgage Broker?
Think of a mortgage broker as a professional who is a freelancer. As a Broker we here at GM Mortgages go between the lenders and borrowers (you) to find the best rate and to find a lender who can secure you the money you need. We are paid on commission from the lenders after we secure a good borrower. We don’t work for anyone but ourselves. While many mortgage brokers work under a name we typically only do so to open channels to contact to hundreds of lenders.
A Mortgage broker recruits and seeks out people interested in borrowing money for a home they are looking to purchase but don’t have the money to pay for it outright (most people don’t).
Gm Mortgages gets to know all of our clients. We calculate what mortgage is best for you by finding out what you could be approved of by discussing the options that work best for you in terms of fixed or variable rate mortgages. Once we decide on which one is best we’ll send out your application.
Most borrowers prefer the service of a mortgage broker because they often get better rates then if they went to big banks. Banks expect the borrower to negotiate lower rates but most don’t know this nor do they properly know how. Many brokers have even managed to get approval for clients who may not have great credit history.
Choosing the Right Broker
When it comes to choosing a mortgage a broker can be a big help. There are fees associated with any mortgage broker out there so it’s important that you get your money’s worth by finding a reliable broker and getting the most out of them when you do.
Choosing a mortgage is fraught, but due to the market exploding in recent years the days of choosing a variable or fixed rate are gone. Every lender on the market seems to have a different spin on the product making it more confusing then ever for many first time home owners. This is where a mortgage broker comes in.
GM Mortgages in Peace River can provide you with special knowledge on the current mortgage market. We always go above and beyond most suited to your current circumstances by negotiating the best rate possible on your behalf with the hundreds of lenders we have access to. We want to provide you the best deal possible and of course have our clients feel comfortable with the right person.
We’re confident in our ability to provide our Peace River clients with the best options available.
Moving to Peace River?
The town of Peace River is located in northwestern Alberta, Canada and situated on the massive Peace River. Located northwest of the Alberta capital of Edmonton and just 198 kilometres of the city of Grande Prairie, the town of Peace River has continued to grow despite the current troubling Alberta economy.
The town is situated along the banks of the Peace River and sits approximately 1,000 feet below the flat terrain the surrounds most of the area around it.
Since 2011 the town of Peace River has grown in size with a 9% increase since the last Alberta census. With significant developments in the oil and gas sectors throughout the years the town has found the need for expansion both in the residential housing market but the business sector as well.
2009 brought significant change to the town’s downtown area thanks in large part to Avi Friedman, an architect and professor.
Some of changes suggested and implemented by Friedman included the redevelopment of the Peace River marina which included an upgraded Riverfont park as well as high density residential development.
The town created numerous improvements in regards to drainage and the flowing of water. Because of it’s close proximity to the Peace River the town had become impervious to potential flood problems. Friedman opened the south end of main street to the west end of 96 avenue for better terraced ramps and landscaping.
The Peace River Housing Market
The need for a Mortgage Broker in Peace River has risen greatly in the past ten years. New neighbourhoods have been built all throughout the community. One of the unique things about the town is it’s separation from one another due to it’s geographic features in the area.
Downtown provides business, administrative, social services, and a cultural centre in the heart of town. Split into essentially three districts you can find each one easily.
Outside of downtown you’ll find the South end being the oldest neighbourhood. Located immediately south of the heart of Peace River it has been developed in a long linear style that almost runs parallel to the Peace River running through the community. Most of the South end consists of older detached homes with a small number of those being duplexes and apartments for the town’s senior citizens.
New zoning in Peace River contains a couple residential neighbourhoods that were adopted in 2009 and 2010. St. Germaine Creek was created and built on annexed land in the northwest and Citadel Park was zoned and developed west of Highway 684.
Future residential development continues and is planned in Westview which is just next to the Peace River community Health Centre.
With so many options available it’s become increasingly important to find a reliable mortgage broker that knows the community and can give you the right options.
Contacting Us In Peace River
Please note that all appointments are made via phone or email only!