Tag Archive for: Halifax Mortgage Broker

Broker’s hours vs banker’s hours

Simply put, unless I am sleeping, eating or doing a workout I will take your call or return your text. Try getting that same level of service from your bank or even your bank mortgage specialist who have extended hours on occasion. However even-though I may take your call, if my corresponding lender is not available the best I can do is answer your questions to the best of my ability.

Although I do not get many client calls or texts on the weekend, it does happen and I want to make sure that they are take care of and that I have property answered their questions. I can’t imagine waiting to try to get questions answered on baker’s hours.

Today I am thankful for an early morning start to a 80K bike ride with friends, having tools to fix a loose pedal 40K away from where we started and beautiful ocean views along our ride.

“I really love showing up at work at 10 A.M and trying to make it funny until 3 P.M, and then going home. It’s like comedy bankers hours.” Chris Eigeman

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

Parenting

Your life changes drastically in so many ways after you have kids. We started with two in 2004. My wife had twins that were 11 weeks early and we spent the first 8 weeks in NICU for one and 12 weeks for the other. Thankfully they are now healthy 16 almost 17 year olds. Having kids teach you that you can survive on less than 4 hours sleep, how to change diapers half awake and that these little people do not care if you can’t sing well. Although my wife has a great singing voice.

My girls adapted well to a schedule of every four hours and slept pretty well when it wasn’t the scheduled time to get up. There were the odd times when they were older (3 or 4) and dropped their stuffies and cried blue bloody murder but other than that they were good. My son who was born in 2006 didn’t like a schedule and was not fond of sleeping till he was almost 7. So the past few years were practically bliss as the kids are old enough to sleep till 10 or 11am in the summer and put them selves to bed when my wife goes to bed.

Last night as one of my teenage girls was up watching whatever on Netflix at 1:30am she let out a scream like someone was attacking her or her sister said something that disagreed with her. I ran to her room to discover that she saw a spider and was trying to kill it unsuccessfully with her skateboard. After the spider was dispatched she was finely able to relax and go to bed. I would love to hear some of your parenting stories.

Today I am thankful for a wife who is a light sleeper to tell me to get up to tend to the emergency, that it was not a rodent as we would of had company in our bed and that at 11am she is still asleep.

What it’s like to be a parent: It’s one of the hardest things you’ll ever do but in exchange it teaches you the meaning of unconditional love.” Nicholas Sparks

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

Being Stoic

Acording to Merriam-Webster being stoic is defined as someone who accepts what happens without complaining or showing emotion. This is especially true when something bad or unpleasant is happening. However I think it’s more than that, I think it’s the ability to keep your emotions in check without suffering from the deep downs or the incredible high’s.

This ancient philosophy is alive and well thanks to the writings of Marcus Aurelius, Epictetus and Seneca. Many modern great minds and leaders were know to practice the teachings of Stoicism, from George Washington, Walt Whitman, Adam Smith, Ralph Waldo Emerson and many others. At it’s core are tools and teachings to help you live a better life, with courage, temperance, justice and wisdom.

“If at some point in your life, you should come across anything better than justice, truth, self-control and courage, it must be an extraordinary thing indeed.” Marcus Aurelius

Today I am thankful for the hidden opportunity found inside every challenge, knowing that worrying about things beyond my control is a total waste of time and teachings from 2,500 years ago are just as relevant today.

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

Opporunity Cost

Not all financing is created equal. There are low rates for AAA credit clients, moderate rates for alternative lending and higher rates for private mortgages. I have done a lot of private lending over the years and at the end of the day it is never about the rate it is about the opportunity cost. The cost of completing your build on time, the cost of loosing your home or the cost of picking up this property at the right price and the right time. All these things private lending can help you accomplish.

It’s true that private lending is not for everyone. It is essentially a bridge loan which takes you from where you are right now to where you want to be. There is also a cost for missing out on the opportunities and this is just one option available to you to make sure that you don’t miss out. This is not long term financing but financing to make sure that you don’t miss out on the opportunities in life.

Today I am thankful for a beautiful walk to my meeting this morning, that it was close enough so I could do that and for my dog who tells me that Amazon or election people were at my door.

“Intelligent people make decisions based on opportunity costs”. Charlie Munger

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

Comfort zone

One of the worst places to possibly be is in the comfort zone. This means that you have settled and that you are more or less just going though the motions. When you are comfortable you don’t push yourself to improve or get better, you are just happy doing what you are doing and not taking any chances.

While I am not saying that you should quit your job or terminate your relationships all to give you some challenges in your life. You should always have something that you are striving to achieve as this makes you driven and motivated to keep improving and moving your life forward.

Today I am thankful for the challenges that I face on a regular basis that keep me moving forward, for a fun afternoon canoeing with my son and the start of an exciting week ahead with beautiful weather.

“Move out of your comfort zone. You can only grow if you are willing to feel awkward and uncomfortable when you try something new.” Brian Tracy

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

5 to 10 basis points

This amounts to .5 to .10 of a percentage point as a basis point is essentially 1/100th of a percentage point. I bring this up as consumers will shop their mortgage business and leave an existing relationship at the last minute for perceived deal of 5 one hundreds of a percent.

So here is some mortgage math for you. Let’s take the average current mortgage balance of 400,000, taken over 5 year term and 25 year amortization. At current 5 year fixed rates of 2.09% that would give you a mortgage payment of 1,711 per month. There are also some no frills quick close deals at 1.99% giving you a monthly payment of 1,692 per month. This amounts to a savings of $19 a month or $1,140 over the 5 years. Or $5 per hundred thousand mortgage balance.

Remember not all products are created equal. Some products are locked in closed for the term, meaning that the only way to break it is with the power of sale. Some have reduced pre payment privileges or no portability features. Make sure that you look at everything as there is more to consider than just the rate.

Today I am thankful for a warm and refreshing run this morning before it got too hot, a delicious burger delivered right to my door yesterday and that my dog recovered quickly from overheating on Friday night.

“Do not let Sunday be taken from you. If your soul has no Sunday, it becomes an orphan.” – Albert Schweitzer

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

Beach Day!

Some weeks the accomplishment is just making it to Friday. If this is you, I feel your pain. However with the warm humid weather we are having it will be a great time to head to the beach. One of the things we are blessed with here in Nova Scotia is lots and lots of beaches. We have over 90 beaches and 7,500 km of coastline you are guaranteed to find one that you like.

Although our summer’s are typically short and now that the hot humid weather is here, a day at the beach could be a great idea. With the hot air temperature and cool water make a perfect combination to refresh and recharge. Here is a link to find the perfect beach for you so you can enjoy a perfect day by the water.

Today I am thankful for the relatively cool nights that have accompanied these warm days, having several beaches to choose from which are only a short drive away from home and friends with pools on warm hot summer days.

“Live in the sunshine, swim in the sea, drink the wild air.” Ralph Waldo Emerson

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

August Market Update

As I have been a mortgage broker for just almost 20 years, I have seen a lot of interesting real estate markets. However this year really takes the cake. February, March & April anything with a roof sold as soon as it hit the market and in most cases with multiple offers and in many cases well over asking price. However since cases of Covid started declining and provinces started opening back up, things have slowed down.

I speak with hundreds of realtors every month and the common belief is that since things are open many people are choosing instead to take a well deserved vacation. In many cases their first in over 18 months. The fundamentals of the market are still relatively the same with not a lot of listing, it just that the buyers are taking a break. Don’t get me wrong there are still many properties getting multiple offer and going well over ask, but the consensus is that this is mostly the mid range properties. Will the craziness come back once school starts, only time will tell.

Today I am thankful for all the great conversations with past clients yesterday, a quiet early morning walk with my dog while most of the neighbourhood was sleeping and a run that seemed slow at the time ended up being much faster than I had though.

“I will forever believe that buying a home is a great investment. Why? Because you can’t live in a stock certificate. You can’t live in a mutual fund.” Oprah Winfrey

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

Approved or qualified

There is a vast difference between getting pre-approved for a mortgage and getting pre-qualified. One holds your rate for up to 120 days and allows you to go house hunting and the other just gives you rough idea of what you can afford. Yes getting a pre-approval will take some time but it is worth it in the end. There is nothing worse for you realtor than finding out after you have been house hunting that you in-fact can’t get the financing for the house you want cause you didn’t take the time to go through the formal pre-approval process.

In this hyper competitive housing market it is absolutely necessary to get pre-approved BEFORE you start house hunting. Here are the steps to take, complete the mortgage application and submit all necessary supporting documents with the application. Together we will review your credit, income and down payment then discuss the various mortgage options. Once you have settled on what you like, we will submit your file for a pre approval rate hold. The banks are very busy so it may take a few days to get it back. Once it is back then go shopping with confidence.

Today I am thankful for my internal alarm clock waking me up at the perfect time, First time clients closing on their home today and kids up early and out of the house with their friends.

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

Stressed?

What do you do to when you’re feeling stressed? We don’t all have the perfect lives and things don’t always go according to plan so you should have structures in place to help you cope. Some of the great strategies I use are starting my day with a 20 min meditation thanks to the Headspace app and other than it’s regular daily exercise. A nice 5K run or 30 clean & jerks for time are great ways to clear my head. I also find that listing to classical music particularly relaxing when going for a run is not possible, and who doesn’t live a great piece by Rossini???

Whatever you do to cope with life’s stresses just make sure it’s constructive and doesn’t make your life overall worse. Chances are someone has already gone though what you currently find yourself struggling with. Having friends or family members to speak with always helps as well.

Today I am thankful for the fact that my teenaged girls have summer jobs to get them out of the house, great friends and family who are there to check in with when the road seems rough and the delayed onset muscle soreness from a great workout.

“The greatest weapon against stress is our ability to choose one thought over another.” William James

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