If you are in the market for a mortgage for purchase, refinance, switch, second mortgage or a home equity line of credit, then the first thing you need to do is to find a good mortgage broker in Surrey. 

Most people just call one mortgage broker and then just apply with that mortgage broker. It is wise, to talk to at least three mortgage brokers who know the Surrey market.

Find out what kind of mortgages does the mortgage broker do? Does he only do Residential or conventional mortgages? Or does he also do Alt-A and private mortgages? Some mortgage brokers only do what we call is sBank or “prime” mortgages. Some brokers do only private mortgages and yet other do all kind of mortgages. You just need to find out what they specialize in? For example, if the mortgage broker does mostly residential mortgages, then calling him for commercial mortgage is not a good idea. He may take your application, but may not be able to do a good job. On the other hand, if you call a mortgage broker who specializes in commercial mortgages, then you are in good hands. 

By the same token, you may get a better rate and better service from a broker who specializes in private mortgages, if a private mortgage is what you are looking for. 

Alt-A or “B” mortgages are the toughest one, so make sure the mortgage broker has extensive experience doing “B” Bank mortgages. 

Feel free to ask the mortgage broker any and all the questions that you have. He is there to answer all your questions. 

Make sure you tell the mortgage broker your situation correctly so he can quote you the correct rate. One advantage of going with a mortgage broker is that the mortgage brokers know at any given time which Bank has a “Special Rate”. 

Get three rate quotes from three different mortgage brokers in Surrey. The more you talk to the broker, the more you will know if he or she is the one you want to go with. 

Let the mortgage broker pre-qualify you. You can tell a lot about the mortgage brokers experience and how thorough he or she is by the kind of questions he asks you; how much details he goes into instead of just throwing the lowest rate at you and you later on finding out that you don’t even qualify for that program. 

You can also look at the mortgage brokers reviews, social media pages, and licensing information.