In an industry as competitive and busy as the mortgage industry you are likely going to find it a little challenging to locate a good Toronto mortgage broker.

How exactly do you know if that broker is a good one or not, though?

There are many brokers on the market who will all vouch they are the best fit for you. Before you jump the gun and pick a broker, make sure to do a little background research yourself to see just how good (or not) they really are.

Here is How To Identify A Good Mortgage Broker:

The broker is recommended

A good Toronto mortgage broker will have been recommended by previous clients. This should be fairly easy to find yourself as a good broker will have a section of their website dedicated for any testimonials or recommendations.

If the broker has done great work in the past, previous clients will have recommended him or her for potential future clients that are looking for someone they can trust with their mortgage. Included in the testimonials should be praises for excellent service, ability to get low rates and fantastic communication skills. A Google search certainly doesn’t hurt either.

Which leads us to…

The broker is a great communicator

From your first interaction with a broker you should have a pretty firm idea if they are a good communicator or not.

A good broker will disclose any and all information you need to know and will do so in a thorough first meeting. He/she will ask about your life plans, mortgage goals and financial situation in order to truly get a grasp of what type of mortgage solution could be right for you.

Further down the road, a good broker will maintain solid communication throughout the entire process right up until closing. A great broker will even stay in touch with you after closing to provide any updates and ensure all of your questions are answered.

The broker is an expert

This may seem obvious, but the fact is there are actually some brokers out there who probably aren’t as knowledgeable as they should be about the industry.

A good broker is a true expert in the mortgage field and is extremely knowledgeable about his/her local market. These brokers will be able to provide you with an answer quickly with confidence and will not shy away from questions you might have.

The best brokers tend to have years of experience in the field and can explain in detail what they do, how they do it and what they can offer you.

Choose a broker

Now that you have a better understanding of what to look for when working with a broker, you can confidently select a good one.

I am a Toronto mortgage broker who has been helping clients find the right mortgage for their specific situation for nearly 10 years. I take pride in satisfying my clients and my previous ones will happily attest to this! If you are looking for a mortgage broker or have any questions, please contact me and I will be more than happy to answer them for you.