When was the last time you actually thought about common mortgage terminology and what those terms mean? We bet not recently. Some of those terms are so common in your day to day dealings that you may just forget that your clients have no idea what you’re talking about! When you’re trying to convince potential clients that you’re the best mortgage broker on the block, helping them better understand common mortgage terms is a great way to demonstrate that you’re in their corner.
Terms such as amortization, GDS, LTV – these are not necessarily things the average Canadian runs across on a daily basis, so spending a bit of time explaining or even preparing a document which outlines their meaning shows you get that the process can be confusing.
Purview For Mortgage Brokers has a few other examples of common mortgage terminology that may stump your clients. Find them here http://purviewforbrokers.ca/mortgage-broker/mortgage-terminology-in-plain-language-five-terms-explained-for-clients/.
When you’re trying to differentiate yourself in the sea of potential mortgage brokers, giving your clients more is a great way to do that.
At Teranet, we’re always trying to provide you with more. We have the best technology for the real estate industry, the tools you, as a mortgage broker, can use to boost your business. Find out more at www.teranet.ca.