Why mortgage broker? Securing your mortgage, or refinancing an existing mortgage, generally involves visiting the various banks and seeing what they can offer you in terms of the size of the loan, the maturity of the loan (when the loan is due), interest rate, and the method of paying off the loan. A mortgage broker, however, acts as an intermediary between an individual or business and a bank and attempts broker a loan for them. A good mortgage broker like Squirrel.sg will look for the most suitable home loan package based on both the clients’ need and the plan of their home loan. They should also help clients with ‘special situations’, such as overseas buyers who are self-employed with their own companies, to get the maximum financing, or refinancing in the case of a second mortgage. After a ‘lock-in period’ (the period of time when clients cannot close their home loan account without paying a penalty), the mortgage broker will assist clients to review interest rate packages.
Posted on: Thu, 11 Jul 2013 02:13:53 +0000
Trending Topics
© 2015