Get in touch with our mortgage agents today
- No Results
At the moment, we don’t know any brokers in this area.
You can still reach out to us on our Contact Us page
Mortgage brokers can help in a number of ways, some advantages of using a broker are:
- greater access to lenders, mortgage products and rates
- the ability to compare mortgage rates without having your credit report being pulled multiple times (if you conducted your own comparison shopping, your credit report would be pulled once by each of the lenders you go to)
- all negotiations are handled by the mortgage broker
- greater flexibility when finding a time to meet with your broker in-person as mortgage brokers usually have extended hours
- access to your mortgage broker’s in-depth industry knowledge
- it is a free service; mortgage brokers are paid by the lender that provides your mortgage
Mortgage Brokers Association of Atlantic Canada
Nova Scotia mortgage brokers fall under the Mortgage Brokers Association of Atlantic Canada (MBAAC). The Mortgage Brokers Association of Atlantic Canada represents its members when dealing with local issues at the provincial level, and when dealing with agencies, licensing bodies and regulators. They deliver licensing and continuing education courses to their members. Members of the MBAAC agree to the professional and ethical standards outlined by the association and meet the qualification requirements.
Mortgage Broker Licensing in Nova Scotia
Nova Scotia requires all mortgage brokers to be licensed by Service Nova Scotia before conducting business in the province. Unlike many of the provinces, there is no education requirement to be a mortgage broker in Nova Scotia. However, Mortgage Professionals Canada (MPC), one may acquire an Accredited Mortgage Professional (AMP) designation. It is the only proficiency standard for the Canadian Mortgage industry and although not necessary, does add additional credibility.
As part of the home buying process you may come in contact with various professionals, all of which provide services to aid in the purchase process. These professionals include:
- Realtors—Realtors have access to home sales data and can help you find the right property and negotiate with the seller on your behalf. Realtors are overseen by the Nova Scotia Real Estate Commission.
- Home Inspectors—Provide home inspections to determine the condition of the property. A home inspection will allow you to determine what repairs and maintenance may be required in your property. To find a home inspector in Nova Scotia, consult the Canadian Association of Home & Property Inspectors Atlantic.
- Real Estate Lawyers—Prepare and register all legal documents such as a purchase contract and mortgage contract.