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.
@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!
@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.