Vancouver Mortgage Specialist Invis - The Siemens Group Offers Three Mortgage Negotiation Tips
 January 3 2017     Posted by Siemens Group

Negotiating a mortgage contract with a financial institution can be an extremely challenging process. The institution is backed by millions of dollars of investments, and as such, has no inherent need for the homebuyer’s business when they come to negotiate their mortgage. While the homebuyer is usually dependent on the institution for the loan. And so, to help buyers enter into the negotiation process adeptly, this latest article from Invis – The Siemens Group offers three mortgage negotiation tips.

1. Remember your Leverage

While buyers might not have as much financial weight behind them as institutions, they do still have some leverage during negotiations. Financial companies and their staff often have targets they must meet to build the value of their mortgage marketplace. This means buyers can enter into the process knowing they have something of clear value to the institution. Working with the institution, buyers can suggest ways to each achieve their objectives, such as balancing the bank’s required interest rate with their own required interest rate to come to an agreement. Once the institution sees the clear value on offer, they’re likely to want to move forward with the process.

2. Prepare Documents Ahead of Time

Documents including employment and tax information should be prepared well in advance of the mortgage negotiation process. This will help ensure that any documentation issues can be analyzed and resolved by the time the buyer goes to enter their marketplace and buy the property. Work with the Vancouver mortgage specialist ahead of time to discuss which documents are required at each step in the loan application process, and then determine how best to transport the documents to the intuition for verification. By completing this work well ahead of the negotiation, buyers can show the bank they’re committed to the process and have a clear understanding on the mortgage application requirements.

3. Consider an Expert Broker

In approaching financial institutions, buyers will likely face a number of questions and requirements that they may not have time for in their everyday life. There are financial considerations, applications, and research that must be reviewed before entering the negotiating process. And so many buyers often choose to place the negotiation in the hands on an experienced broker. A broker will work on behalf of the buyer to assess all the available options and help them select the best value product for their long-term purchase requirements. Going this route can help the buyer reduce the costs and the time involved in working directly with their financial institution.

The team at Invis – The Siemens Group is ready to help guide buyers in reducing their mortgage costs! To learn more on their mortgage expertise, speak with a Vancouver specialist at 604-351-7438 or visit their business website at www.siemensgroup.ca.