Choosing a Mortgage Broker

3 Replies

Hello Everyone,

I have questions with mortgage brokers.  My investment real estate agent recommended a mortgage broker that is located in a different city than the one I currently live / invest in.

My question is that I have not met this mortgage broker and that he requested a lot of information ( Social Insurance number, wages, income, saving and so on...).  Seeing as I have not met him, is this common practice? or is this something I should be wary of? Should I find a local mortgage broker?

Additional information - I currently live in Edmonton, Alberta Canada.   

Thanks!

@Richard Huynh I always recommend going local (in the same state).  The information that the broker is asking for is required to do a full pre approval.  

@Melvin List - Thanks! I appreciate the help.  Just a little worried with all the negative news about identity theft. 

Another question, if I sign a disclosure form with them, am I locked in with this broker? or can I still get quotes from a few more brokers?

Let me know!

Thanks!

@Richard Huynh you are not locked in until the day of closing but I would find someone you trust and make a commitment to the Loan officer or Broker.

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