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Questions to Ask a Mortgage Broker

When a consumer considers the questions to ask a mortgage broker, most often those questions derive from not understanding the process and costs. Do you, as their mortgage broker, have the tools and resources needed to answer them?

Ultimately, as their mortgage adviser, you should be able to easily answer any question your client poses! Having the right information will help you ensure your client can secure the best possible mortgage, and doing so positions you as a trusted professional.

Here are the most common questions to ask a mortgage broker:

  1. What is the best interest rate you can get me?
  2. What is the term – fixed or variable?
  3. Which type is best for me?
  4. What is a mortgage hold?
  5. What fees do I have to pay?
  6. How can I save on interest charges? What options do I have?
  7. Can I make extra payments when I have money available?
  8. Can I break my mortgage any time I want?
  9. Is there any restriction on when I can refinance?
  10. What are your qualifications as a mortgage broker, and are you the right one for me?


These are just some of the questions every good broker should be prepared to answer!

You can find an even more exhaustive list of questions – including many of the ones above – in this Globe and Mail feature:

Knowing the questions you may be asked – and knowing the right answers – means you can ensure that you are offering the highest level of service to both the client and the lender who will end up with responsibility for the mortgage.

What about the questions you need to ask the client? You need to be able to confirm the accuracy of the answers your client provides, because you want to weed out bad deals before they go too far, and you want to be able to spot opportunities for upsells, and demonstrate your capabilities as a thorough professional.

Purview has the tools that let you answer questions with authority and accuracy. Check it out today by visiting today.


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