Integrity can be described as being the quality of an honest, incorruptible person, a person whose behavior is above reproach. Can you really say that this is true of your mortgage counselor? Only if you can say that he puts his client's interests before the interests of the lender. Otherwise, he does not have integrity. - courtier hypothecaire



If you are not sure, you had better keep on searching for a good mortgage advisor who will work for you. If there is not confidence, you will not be able to take any advice from a mortgage consultant. Any advice he gives you will make you wonder if they are better for you or for his bank.

The integrity of a mortgage consultant

You should interview your mortgage counselor (courtier hypoth?caire) just as you would interview anyone else who is going to work for you. Don't tell him what you want, let him do all the talking. If you tell him you are seeking the best rate for a five year loan, for example, he will only focus on that. Make sure you see what he can offer you. If he is a good mortgage counselor, he will try to learn as much about your situation as possible, instead of just giving you quotes on loan rates.

A mortgage consultant should be able to offer you many products.

If all your mortgage consultant talks about is rates or products, like a fixed five year rate, or an equity line of credit, you can be sure he just wants to make the loan and be done with it. The real savings on mortgages occurs over time, working with a mortgage consultant who can judge your circumstances and design the exact right product for you. This way, you will be able to pay off your loan quickly, without straining your budget (courtier hypoth?caire).

You will know you have found a good mortgage consultant if he is able to offer you a number of solutions, as well as a number of lenders. A good home loan consultant has many products to offer for his customers to choose from.

Conflict of interest

One of the most important considerations when you are choosing your mortgage consultant is who he is really working for. If you are working with a banker who gets a bonus by bringing in a high interest rate loan, he is certainly not going to try to get you the best rate for his clients - courtier hypothecaire.

There are two sides to a mortgage, the one who pays the money and the one who receives the money. You, as payer, want to pay as little as possible. The bank, as receiver, wants to make as much as possible. Does your counselor want to make money for the bank or save money for you?

Long term relationship

A good mortgage consultant should take a long term approach to his client's circumstances. If he is current with the market, he will consult with his clients annually to see if the strategy used is still the best choice, and offer continuing advice.

Advisors who only seek a single quick transaction are a dime a dozen, but a good counselor who keeps in contact with you year after year is a treasure to find

Don't be in a hurry. Make sure you have a consultant who will:

? Want more than a quick transaction

? Not just shop for interest rates - courtier hypothecaire

? Not have a conflict of interest in the loan

? Save you money on the whole transaction of the mortgage.

This is probably the most important step you can take.