All mortgage brokers who reside within Alberta must pass the Mortgage Associate Program. This program is administered by the Alberta Mortgage Brokers Association. Following this program, brokers must pass the Provincial Qualifying Exam with a grade of 70% or higher. Once this examination has been completed, all brokers must pass a criminal background check. No person can operate as a mortgage broker within the province of Alberta without following all of the aforementioned steps. Thus, all Albertan mortgage brokers should be able to provide proper licensing documentation.
When searching for a mortgage broker in Alberta, look for a broker who has many consumer referrals. Even though all Albertan brokers must be adequately licensed, some brokers enjoy better reputations than others. Using an Alberta broker to secure your mortgage is a wise idea, since brokers can often obtain lower interest rates. A mortgage broker will also help to protect you against mortgage fraud, which does occur throughout Alberta. Certain consumers (including first time buyers) may qualify for low mortgage rates and mortgage perks within the province of Alberta. To find a licensed and ethical Albertan mortgage broker, take a look at the listings on our site. |
