How do you choose a broker when there are so many to choose from. Every where you look there are signs or ads in the newspaper regarding mortgage brokers and different loans. The following are some criteria when you are choosing a mortgage broker:
1) Experience. You should make sure that the broker you decide to work with have at least three years of experience. Someone might say two years but I believe the first year you are learning the ropes. The second year you are trying out your hand maybe still with a mentor. The third year, they potentially begin to hone their skills and carve out a niche.
2) Type of Loan. Does the broker have experience with the type of loan you are interested in. If they do not, then you want to move on and not spending any unnecessary time. The process takes a while as it is, no need to spin your wheels when you could be with a broker that will provide exactly what you need.
These are just two of the criteria to start with. If you are a broker, what would you recommend as criteria for choosing a broker?
