Why Consulting With A Mortgage Advisor Is Advantageous For You?

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The mortgage advisor is going to reduce times, get you better conditions with the bank and that is going to save you a lot of money throughout the mortgage loan.

All people dream of having their own home but many do not have enough resources to take this fundamental step. This is why they decide to turn to banks to apply for a mortgage loan that is nothing other than financing provided by the bank and which is guaranteed by the property to be purchased.

In many cases, people ignore a series of details and situations that have to do with the mortgage credit. In this sense, the vast majority of financial institutions take advantage of the ignorance on the part of the applicant, giving them beneficial treatment for the bank. It requires a person who knows the subject and who can look after the interests of the person applying for mortgage financing.

Mortgage Advisor

A mortgage advisor is a banking professional who knows all the offers in banking, which are the best options and conditions to apply for a mortgage loan. This specialist must not only have the corresponding experience but must also be an expert in negotiation since in this way you will be able to resolve any conflict that arises in the offer that the banking institution presents to the applicant.

In the same way, the mortgage advisor simplifies the entire process that leads to obtaining a loan as much as possible. Many consider that the main function of this professional is to serve as an intermediary between banks and clients, but beyond that, he is a person who puts his knowledge of the banking sector at the service of the client.

There are multiple advantages, which a mortgage advisor provides, among which are:

Presenting a clear picture

There are terms within the contracts that may be cumbersome for people who do not belong to the financial field, but by hiring a mortgage advisor he will explain in detail everything that entails the application, this, in the long run, generates not only a saving of time but also of money.

Provide solutions

The job of a mortgage advisor is not just limited to intermediating with banks but also providing advice or guidance regarding the most convenient mortgage option for the client. He will even help to complete all the requirements that the bank demands to be able to approve the credit application, in this way it is avoided that the documents are returned due to faults.

Moreover, the advisor will explain to the client the correct way to present the financial details to the bank, this being one of the most important requirements since the amount of the loan will depend on the payment capacity. For example, some people believe that their income is limited only to salary, ignoring other income they may have from rentals or businesses.

Mortgage credit denied

If for any reason the credit is denied or the banking institution offers less money than expected, the advisor will be responsible for providing solutions in this regard, that is, he will go to the bank to meet with the corresponding representative and negotiate the possible approval of the credit.

It is worth noting that a refusal of approval is not necessarily attributable to the advisor since he is limited to collecting the information provided by the client and if for any reason he had lied, the bank could reject the request.

Obtaining better payment conditions

When a client goes on their own to a banking institution to apply for a loan, they can offer them less advantageous options but when they have an advisor, they can obtain the best interest rates, whether they are fixed or variable. Moreover, you can achieve the elimination of some clauses such as the one that refers to the total payment of the debt before the time indicated by the bank and everything that refers to the amortization of capital.

Even the advisor can negotiate what has to do with special annual fees, in the same way, he can guide the client on what to assign or accept in the proposals that the bank makes.

How To Recognize A Good Mortgage Advisor

If the decision to hire a mortgage advisor has already been made, be very cautious, as many in the market offer this service but very few fully comply with the functions of this professional. Among the knowledge that an advisor should have we can mention the following:


The mortgage advisor must inform the client on how to save money on the mortgage. He must have investment experience and not limit himself to just explaining what is required to achieve the best deal. In this sense, he can also offer guidance on starting a plan of pensions or savings thus helping to make the best decisions to invest the money.

Loyalty to the contractor

The mortgage advisor must not force clients other products other than mortgage credit because it is seen that banks that approve mortgage credit pitch other products such as life insurance, health policies, or credit cards citing their advantages.

The advisers know that when a person requests a loan, the banks usually give them the least advantageous options in the acquisition of other products. In this sense, the advisor must be characterized by correctly guiding the client so that he is limited only to accept the money from the mortgage loan.


Some professionals use complicated terms that make it difficult for people to understand them. A good mortgage advisor must handle simple language and their explanations must be clear so that the client is aware of everything related to the mortgage loan application. If possible, a mortgage advisor must also be able to deliver a simulator to the client so that he knows not only how much he is going to pay monthly but also what the interest contribution is and which corresponds to the capital.

Another important detail is that the advisor will always give the client all the information regarding the mortgage loan in writing, that is, there will always be a record of what is indicated by this professional so that in the future they can carry out their own economic studies and make the most appropriate decisions.

A good advisor never puts pressure on the client, when he delivers information he does so well in advance so that he can study carefully before deciding which the best option is.

Mortgage Adviser Fees

The mortgage advisor begins by informing the client that he only charges when the money approved for the mortgage is obtained. Moreover, he is a free practice professional so he does not have a regulation regarding the collection of his fees.

In general, they charge a percentage that can be included between 1% and 4% of the total amount of the mortgage, that is, if the mortgage is for $200,000, this could reach charges of up to $8,000. Other advisors have a fixed amount that they negotiate directly with the client.



Ref number: THSI-2059

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