Why Attempting DIY Mortgage Solutions Is A Bad Idea

DIY or do-it-yourself activities are a great test of creativity and an excellent opportunity to overcome economic constraints. They can also be a therapeutic or fun leisure activity. However, as the DIY craze catches on and with more information about different tasks and jobs readily available on the internet, many believe almost any project can be completed swiftly and economically as a DIY, even applying for and getting a mortgage.

Suppose you’re planning on buying a home, refinancing your mortgage, or seeking a mortgage secured by commercial property, which can be used to acquire, refinance, or redevelop commercial property. In that case, you have a lot to consider before applying for the mortgage and signing on the dotted line. To give you an idea of how bad things could get for you on your own, Mortgages By Garvin has explained why attempting DIY mortgage solutions is a bad idea.

1. You could potentially kill your chances
Mortgages aren’t something that can be learned without proper education and licensing procedures. Attempting to figure out your mortgage all on your own has the potential to kill your chances of getting the financing that suits your specific situation. Remember the old saying “caveat emptor” or “let the buyer beware.” People who are untrained and inexperienced cannot know what questions to ask or where to look and will thus be unable to find the best solution for their mortgage.

2. You risk wasting time and money
Not seeking the assistance of a mortgage professional could end up costing you thousands of dollars, wasted time, and missed opportunities. As rates increase and qualifications get tighter and stricter, DIY mortgage solutions should be avoided to save time and ensure a stress-free experience.

Do things right - Hire a professional
As busy professionals and progressive individuals, our active lifestyles only allow some of us to specialize in the mortgage industry.

Mortgage agents are licensed and certified industry specialists. We provide conscientious mortgage advice while considering things like interest rates, payment privileges, payment penalties, long-term savings, and much more to find you a mortgage solution that fits you both today and into the future.

Deciding to utilize a mortgage professional can save you time and money and provide peace of mind with the knowledge you have the right mortgage designed for you.

If you are concerned about affording the services of a mortgage agent, I have news for you. We work for our clients, and our services usually come at no cost, as we are paid by the financial institution that funds your mortgage.

This commission, known as the finders fee, is included in the mortgage interest rate stated by the institution. In exceptional circumstances, an additional brokerage fee may be applied for hard-to-place cases. However, all fees will be disclosed in the commitment letter.

For a reliable mortgage agent based in Mississauga, Ontario, reach out to Mortgages By Garvin. I’m Garvin Arjunen, a licensed mortgage agent specializing in the real estate market. Through the brokerage I partner with, I offer commercial and residential mortgages at competitive rates and consistently provide my clients with the best solutions to meet their specific mortgage needs.

Get in touch with me today!
To learn more about the services I offer, please click here. To get in touch with me, please click here or call me at (647) 355-0340.