Asked on 07 Dec 2020
I am a first-time home buyer and there are a lot of that I am still unsure of, such as whether to use a mortgage broker or not. Any advice?
There's no difference between going through a bank or through a mortgage broker. The only difference lies with if you go through a mortgage broker, he will earn a percentage of commission by referring you to the bank. On your part, you do not pay any additional fee GE process to getting your mortgage loan is the same as going through the bank directly.
However, there are times when the mortgage broker might share his commission with you as a form of incentive for you to go through him, instead of the bank directly.
08 Dec 2020
Oh yea I almost forgot to mention that an independent mortgage broker can offer the service of listing out what’s the best bank loan for you as they are able to compare the loans offered by most of the banks, thereby helping you to choose the best option which eliminate the hassle of you going to different banks to find out on their offerings.
Single or Joint Life
Amount of Housing Loan
MAX SUM ASSURED
75% of policy term
1% to 7&