What to Look for in a Mortgage Lending Company

Posted by: dan

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Written By Tony Dhami

www.topnegotiator.ca
www.hamiltonmortgagebrokers.ca

Type "mortgage lending company" into any search engine and thousands of results appear. Given this, how do you know what to look for in a mortgage lending company? Following are some guidelines:

Tip #1: What to Look for in Mortgage Lenders: Canada.

Comparison Shop. Comparison shopping gets you familiar with what to expect as far as interest rates, loan products and closing costs. If you don´t comparison shop, then you won´t know if the rate being quoted is within standard guidelines given your credit and financial specifics.
Tip #2: What to Look for in Mortgage Lenders: Canada.

Mortgage fraud is on the rise in Canada, and more and more consumers are reporting it. Check with the Office of Consumer Affairs of the Canadian Federal Government for complaints filed. Also check with your province´s Office of Justice and the Attorney General.
Tip #3: What to Look for in Mortgage Lenders: Canada.

Ask for referrals. One of the best ways to find a reputable mortgage lending company is to check with friends. Choose one that´s been around for a while. Ask enough people, and you´ll probably start to hear the name of one or two that fit the bill.
Tip #4: What to Look for in Mortgage Lenders: Canada.

Research. The internet provides a wealth of information. Research any company you´re considering. Couple this with your offline research (e.g., referrals), and you should be able to find a reputable mortgage lending company in no time.