Tag Archive for: Halifax Mortgage Broker

Little Win’s

Sometimes in life it’s important to celebrate the little wins. It is because all the little wins added up over time give you the momentum to achieve the bigger wins in life.

Celebrate finishing your first 5K race, not your position at the finish line but the fact that you finished it.

Your son winning their first basketball game of the season. Not the championship but just as exciting.

The fact that you completed a workout is a win, as you are light years ahead of those who did not get off the couch.

Having your down payment saved up is a win as you have managed to take control of your finances.

Getting pre approved is a win as it shows that you have mastered your credit as well.

Getting your offer accepted is a win, specially in this hyper competitive real estate market.

Don’t wait for some far off date to celebrate those big wins. Take the time now and celebrate each and every small win.

Today I am thankful for a fun weekend with the wife and the kids, that it does not take much to realize that life is a series of small victories and that everything is so much more fun when you focus on the the victories.

” The great victory, which appears so simple today, was the result of a series of small victories that went unnoticed.” Paulo Coelho

I look forward to hearing from you in regard to your mortgage needs.

Patrick

p.s- You can click on this link to start the process whenever you are ready. Schedule your meeting with me here.

p.s.s- I should tell you that I am licensed in Nova Scotia, Ontario(M18001555) & in British Columbia(BCFSA #504098).

p.s.s.s You can download my new mortgage app here

Be Flexible

The renowned success coach Anthony Robbins says “be committed to your goals but flexible in your approach”. The first way that you tried to do something doesn’t always work out for you. You have to be willing to adapt, try new things and stay persistent until you have achieved your desired result.

This certainly applies to those who are looking to buy a home in this hyper competitive market. It’s very rare that people succeed at their first offer to purchase these days. While some are successful on their 3rd or 4th offer some are taking many many more. It is also a good idea look back at your past offers with your agent and see who close you were to becoming the winning bidder. This way you know what if anything you have to adjust to get your offer accepted.

This is because that doing the same thing over and over again yet expecting a different result is actually the definition of insanity. Be cognizant of what is working and what isn’t. Then have the wherewithal to make the required changes. Once done you will find out that things just come into place and it will all work out.

“Give up the thought that you have control. You don’t. The best you can do is adapt, anticipate, be flexible, sense the environment and respond”. Frances Arnold

Today I am thankful for my daily flexibility routine that keeps me moving well, clients who won the bidding war and learning from the mistakes of others so I don’t repeat them myself.

I look forward to hearing from you in regard to your mortgage needs.

Patrick

p.s- You can click on this link to start the process whenever you are ready. Schedule your meeting with me here.

p.s.s- I should tell you that I am licensed in Nova Scotia, Ontario(M18001555) & in British Columbia(BCFSA #504098).

p.s.s.s You can download my new mortgage app here


Don’t pull my credit

Sometimes clients who apply for a pre approval or a mortgage ask me not to pull their credit. They are concerned that my pulling their credit will negatively effect their credit score. When you apply for a mortgage through a broker or a financial institution, as part of the application process you give permission for them to pull a full and current credit bureau. This is required so we can get you approved for the loan.

There are two type of credit inquires. A soft pull when when you don’t have to give your permission and the institution only receives a condensed version of your credit report. This is typically done when you receive a pre qualified credit card offer in the mail or when you go to get a new cell phone. However when you are looking to borrow money for a car loan or a mortgage, we do a hard pull where we receive a comprehensive version of your credit report.

Typically people are worried that if too many people pull their credit report in a short period of time that this will negatively effect their credit score. So whether you are shopping around for a mortgage or a new car, the enquiries made within the last 30 days will not effect your credit score. Since creditors report to the credit agencies every 30 days, it’s the enquiries and credit over 30 days that really matter. Also when you give me authorization to pull your credit, I pull it once then use that same report with all my lenders that I have available.

If you are concerned that your credit is just at the cusp of qualifying for the loan and that if it gets pulled you then may not qualify. If this is the case then I highly suggest that you get a free copy of your comprehensive credit report from Equifax directly. As if this is the case you may need to work on it to improve your score. Here are some tips to help you do that.

Today I am thankful for sacrifices of our veterans and the freedom that we now have today, the slower pace of a weekday off and the cool crispness of a November morning.

I look forward to hearing from you in regard to your mortgage needs.

Patrick

p.s- You can click on this link to start the process whenever you are ready. Schedule your meeting with me here.

p.s.s- I should tell you that I am licensed in Nova Scotia, Ontario(M18001555) & in British Columbia(BCFSA #504098).

p.s.s.s You can download my new mortgage app here

Judgement

We could all use a little less judgement in our world. Not everything needs a label to define it, as sometimes those labels bring a negative connotation. Those labels can then be used to discriminate against people. Stop seeing people as young, old, christian, jewish, muslim, black, white, gay, straight, tall, short, fat, skinny, liberal or conservative. Fundamentally we are all the same and we have far more similarities than we do differences.

Much the same can be applied to the major events in our lives. What happens to you should not always be defined as good or bad, this creates massive mood swings that will go with that judgement. Events are just events, and you will get through them much better when you start to see them that way. Life is not what happens to you but how you react to it.

Not everyone has the same credit score, the same employment or down payment. This is why we have many different mortgage options for people. So judging your rate and approval or lack there of with your friends or neighbours is a recipe for disaster. Let’s work together to find options that fit your particular situation.

“It’s all about communication and a dialogue between individuals – get rid of the labels, get rid of the shame, get rid of the stigmas and just be…” Matt Bomer

I look forward to hearing from you in regard to your mortgage needs.

Patrick

p.s- You can click on this link to start the process whenever you are ready. Schedule your meeting with me here.

p.s.s- I should tell you that I am licensed in Nova Scotia, Ontario(M18001555) & in British Columbia(BCFSA #504098).

p.s.s.s You can download my new mortgage app here

Purchase Plus Improvements

In this age of highly competitive real estate market, sometimes you just have to jump and offer on the next available decent house in your price range. However since the homes are going for well over asking price and sometimes with interiors that have not been touched since Justin Trudeau’s father was Prime Minster, a purchase plus improvement mortgage may be something that you want to consider.

With this mortgage program it allows you to purchase an as is home ( not one that is not livable) and make some improvement to make it your own. The improvements are limited to structural and permanent fixtures ( paint, flooring, cupboards, roofing or furnace / AC etc) rather than appliances.

Depending on the lender programs can be the purchase price of your home + up to 10% or 40K whichever is less or some lenders are now doing the purchase price + 20% of the purchase price as improvements.

Here is an example, you were the successful bider on a home that you are buying for 500K. You still have room in your debt service ratios and want to improve the house to make it your own. So depending on the lender in some cases you can add 40K in improvements and others you can go up to 100K.

Don’t forget that if your purchase required high ratio mortgage insurance (CMHC,Sagen or Canada Guaranty) your down payment will now change. You will need to put down 5% for for 1st 500K and 10% of the improved value. So that would be 25K on 500K and 4K for 40K or 10K more if you were getting 100K worth of work done.

“When you are good at something, you will tell everyone. When you are great at something, they will tell you.” Walter Payton

I look forward to hearing from you in regard to your mortgage needs.

Patrick

p.s- You can click on this link to start the process whenever you are ready. Schedule your meeting with me here.

p.s.s- I should tell you that I am licensed in Nova Scotia, Ontario(M18001555) & in British Columbia(BCFSA #504098).

p.s.s.s You can download my new mortgage app here

On Schedule

Some people think that scheduling your time and your life is limiting and that it prevents the flow of creativity and the ability to get work done. However I think it’s just the opposite. There is a power and actually a dicipline to having a regular schedule or routine. It allows you to prioritize your work and focus so you can get more accomplished.

When you have a consistent and regular schedule it also saves you the mental fatigue and anguish about trying to figure out what the heck you should be doing. Less stress worrying about what you should be doing and more time to work on your priorities. Speaking of time, your regular routine will help you make the most of your time and you will find that you get more done in less time as a result and that you are way more focused on your end result.

Since time really is our most important asset, people will respect you more when you realize how important your and their time really is. You will be focused more on tasks and activities that actually move you forward toward your goals and less time will be spent on distractions like social medial or TV.

Today I am thankful for my regular routine as it keeps me sane and focused throughout the day, for the family team effort that made cleaning up the truck so much more enjoyable yesterday and for discovering a great book that I had not read on my bookshelf.

“The key is not to prioritize what is on your schedule, but to schedule your priorities.” Stephen Covey

I look forward to hearing from you in regard to your mortgage needs.

Patrick

p.s- You can click on this link to start the process whenever you are ready. Schedule your meeting with me here.

p.s.s- I should tell you that I am licensed in Nova Scotia, Ontario(M18001555) & in British Columbia(BCFSA #504098).

p.s.s.s You can download my new mortgage app here

Extra Time

With the time change last night what are you doing with the extra hour that you have been given today? Don’t be like most and just sleep in, here are a few idea’s.

Go for a long walk or run

Meditate

Read a book

Visit a neighbour

Go for brunch

Volonteer with your church

Clean up your house and yard

Cook your loved one a nice meal

Don’t waste it staying in bed when there is so much more that you could be doing.

Today I am thankful for the extra hour to use today, brunch with my wife for the first time since before the pandemic, for my son and dog helping me clean up the lawn and garden beds yesterday.

“I don’t mind going back to daylight savings time. With inflation, the hour will be the only thing i’ve saved all year.” Victor Borge

I look forward to hearing from you in regard to your mortgage needs.

Patrick

p.s- You can click on this link to start the process whenever you are ready. Schedule your meeting with me here.

p.s.s- I should tell you that I am licensed in Nova Scotia, Ontario(M18001555) & in British Columbia(BCFSA #504098).

p.s.s.s You can download my new mortgage app here

Tipping Point

Tipping point can be defined as ” the point at which an issue, idea, product, etc crosses certain threshold and gains signifiant momentum, triggered by some minor factor or change”. I would loosely describe it as the point in which all of your previous hard work has made you better and things finely start to fall into place as you have improved rather than situations have become easier.

Say for example that you have continued to put away in a savings account $50 from each pay since you got your first job when you were 15 and you are now 25. Not accounting for compound interest or investment returns you would have saved 13,000. While this might not seem like a lot, if it allows you to pay off debt or further add to your down payment on a new home it may be just the tipping point that allows you to do it.

You also reach tipping points learning a new language, playing a musical instrument or training for your 1st 5K race. It’s when all your hard work is finally starting to pay off. The Beatles did it by playing tons of shows in Hamburg Germany when they first formed and this allowed them to hone their skills. Malcolm Gladwell in his book by the same name says that the magic key is 10,000 hours of work to get to your tipping point. So what are you an expert at that you don’t even realize?

Today I am thankful for the business came in over night while I was sleeping, my french that I learned 30 years ago that still serves me and these daily posts that allow me to reach so many people.

“The tipping point is that magic moment when an idea, trend, or social behavior crosses a threshold, tips, and spreads like wildfire.”
― Malcolm Gladwell

I look forward to hearing from you in regard to your mortgage needs.

Patrick

p.s- You can click on this link to start the process whenever you are ready. Schedule your meeting with me here.

p.s.s- I should tell you that I am licensed in Nova Scotia, Ontario(M18001555) & in British Columbia(BCFSA #504098).

p.s.s.s You can download my new mortgage app here

On a roll

Success breeds more success, but if you are in a rut you are probably feeling like any improvement is impossible. My advice is to start small and build it from there. One small success at a time and sooner or later you will fell like you are on a roll, and what is success anyway but a feeling that you are doing well.

If you have not seen this yet you have to check out this video the US Admiral William H McRaven talks about starting with making your bed. Stack one small success upon another and sooner or later you are on a preverbal roll. Make your bed, hold the door for someone, pay for the car behind you in the drive through, smile sincerely at a stranger and wish them a great day.

The same applies to your quest to become a home owner. Start by opening up a separate savings account where you put your down payment money, start small with a few dollars at a time and consistently deposited will grow. Check out YNAB to get control of your finances. Lastly but just as important sign up for a credit monitoring service to keep an eye on your credit score. These are two good ones here in Canda and they both monitor your Equifax bureau which all the lenders here use, Borrowell and Mogo.

Today I am thankful the cool crisp morning air, a brisk walk with my dog and a refreshing workout to start the day.

“The difference between winning and loosing is most often not quitting. Walt Disney

I look forward to hearing from you in regard to your mortgage needs.

Patrick

p.s- You can click on this link to start the process whenever you are ready. Schedule your meeting with me here.

p.s.s- I should tell you that I am licensed in Nova Scotia, Ontario(M18001555) & in British Columbia(BCFSA #504098).

p.s.s.s You can download my new mortgage app here

Year end closings

If you are currently house hunting or planning to refinance and would like to close on before the end of the year, then please choose your dates wisely. This is because we have 3 statutory holiday’s within the last week of the year. Christmas & Boxing day fall on Saturday & Sunday this year and that means that Monday and Tuesday will also be holiday’s for the banks and law offices. December 24th is normally a half day anyway and with the week after Christmas being a total write off anyway, if you are looking at dates to close pick no later than December 15th.

People take vacations in the week leading up to and after Christmas. Also not all closings happen on the day that they are supposed to and are sometimes carried forward a few days to get everything in order. So to prevent your closing being delayed please get all your ducks in a row and don’t put any date later than December 15th on your purchase or refinance. Otherwise you could see it possibly being delayed until Jan 12th next year.

Today I am thankful for seeing all the deer in our neighbourhood during our walks, clients planning ahead and closing mid December and friends that call out of the blue just to chat.

” Every new beginning comes from some other beginnings’s end” Seneca the Younger ( not semi sonic lol)

I look forward to hearing from you in regard to your mortgage needs.

Patrick

p.s- You can click on this link to start the process whenever you are ready. Schedule your meeting with me here.

p.s.s- I should tell you that I am licensed in Nova Scotia, Ontario(M18001555) & in British Columbia(BCFSA #504098).

p.s.s.s You can download my new mortgage app here