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Tag Archive for: mortgage broker

The only thing

The only thing constant in our lives is change. Flexibility is a must so we can adapt to the never ending constant changes in our lives. Let’s face it we get older and will not be here forever. Make the most of the time that you have here and now. The things that you learned yesterday may be different tomorrow. You must be flexible and adapt and approach things with an open mind. Those who don’t will be left behind.

The same things applies to our current mortgage and real estate markets. The low rates that we have now will not last forever. Currently fixed rates are averaging 2.69% for 5 year fixed AAA clients and Prime (2.45%) -1.30 (1.15%) for variable rates. That is a spread of 154 basis points that you could still experience some good savings. Now as for the real estate side of things, we are still suffering from record low inventory so sellers are still getting top dollar for their properties and this means that buyers have to be strategic and aggressive with their offers.

There is a reason that Maritimers always talk about the weather. It is like so many other things in live it is also constantly changing. If things were the same day in and day out, life would be monotonous and boring. Embrace the change and roll with it.

“Those who cannot change their minds, cannot change anything.” George Bernard Shaw

Today I am thankful for my dog who made me take him out earlier this morning when I really didn’t want to move, an intense workout in a cold garage and my friend in Montreal who always sends me uplifting messages in the 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

Season of giving

Now that we are in the midst of the holiday season, thoughts are frequently turned to how those who are fortunate can help those less fortunate. There are many worthwhile charities, here are three that come to mind for me.

Feed Nova Scotia helps individuals and families facing food insecurity or homelessness. You can donate by clicking on this link.

Canadian Blood Services as the need for blood is always there. I needed it back in 2015 and as a O- I feel it is now my responsibility to give back. You can also support them financially. Here is the link.

Canadian Red Cross is working to help those impacted by the flooding in BC. A little goes a long way, so please click here to donate to this worthy cause.

Lastly and importantly if you are feeling generous this time of the year and want to help someone in need whether it be though a donation to one of the causes above or just help an individual or family locally, do not record it to post on social medial. Do it instead because you want to help, not because you want to get likes or comments on your good deed.

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

Let it snow

Since we have no place to go, mostly due to the fact that we are still working from home due to Covid, let it snow, let it snow, let it snow. The first snow of the season is usually a reminder for those who haven’t yet gotten their snow tires to make the appointment and do it now. Remember to take your time, clear off your vehicle before you leave and be patient as it takes longer in the snow.

Today I am thankful for the beauty that the first snow brings to the city, for the perfect time to play Christmas music and for warm cups of hot chocolate.

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

The dark side of Social Media

There have been so many great things to come from the rise of social media and the internet. It’s so much easier to connect with friends and family no matter where they live. Information about almost any topic is only a few keystrokes away. However the same can be said for the almost same amount of misinformation and or negativity.

Five star on line reviews help business grow and attract new clients and customers. But it only takes on negative review to tarnish someones reputation. It’s sad that negative information spreads at the speed of light while the positive information seems to take the pony express.

Please think before you spread any negative information online. At this moment you may feel upset, but you need to ask yourself is it true, helpful, inspiring, necessary or kind. If it is none of those things, don’t say it, text it or post it. Go for a walk and clear your head and move on with your life. If you wouldn’t say it to your Grandmother then don’t share it online.

Today I am thankful for my morning walk with my dog for helping improve my mood, a great 5K run in the snow today and the smile and wave I received from a fellow runner this 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

Tis the season

Ready or not we are now prime into the Holiday season of 2021. The Jewish Holiday of Hanukkah started yesterday and continues through Monday December 6th. So I want to wish all those celebrating the Jewish “Festival of Lights” a very Happy Hanukkah. Then we have Christmas and Kwanza not far behind.

So with all the festivities and parties with friends and family coming up, give the gift that means the most your presence. Be there for your friends and family. Listen, learn and help them if needed. This is way more important than finding and buying the perfect gift. The gift of your time and attention to a loved one is far more important. Leave the actual presents for the kids.

Today I am thankful for the ability to work at home so I can drive my kids to school when we have inclement weather, the excitement and the traditions of the Holiday season and that I was able to help out a new broker this weekend.

“The best way to spread Christmas cheer is singing loud for all to hear.” – Will Ferrell

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

The rate game

When the first thing that you talk about with clients is rate, then you have just limited yourself to being a rate broker. I told another broker on our national facebook group that if you do this you have to be prepared to live by the sword and die by the sword.

Actually rate will not dictate your final payment as much as amortization. If you are buying with 20% down or more you have the choice to extend your amortization out to 30 years. This is also available if you are refinancing. Doing this will help lower your overall monthly payments as well.

There is more to a great mortgage than just the rate. You need to consider flexibility like pre payments privilages, portability, and potential penalty to break the contract.

Today I am thankful for the slower pace on the weekends, being able to take a nap and still get what I want done accomplished and it was cool and crisp for an early morning run.

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

Mitigate your risk

With all the talk about possible impending interest rate increases in the new year, there is still a way to have your cake and eat it too. As it stands today lender are still offering deep discounts on variable rates. For example a AAA client purchasing and putting down less than 20% may get access to prime ( 2.45%) less 1.3%. This means your new mortgage would start at 1.15%. This is pretty sweet considering the same 5 year fixed rate is around 2.59%. So you start off at a discount of 1.44% compared to those who take the fixed rate.

While I have no crystal ball and can not predict what the governor of the bank of Canada may do. It would take quite a few interest rate increases to even meet the current fixed rate of 2.59%. This is because when the bank of Canada has moved the rates in the past they are normally at .25% at a time.

So the best way to mitigate your risk and get access to the best rates on the market ( for those who qualify), is to go variable and set your payment as if you took a fixed rate. So for example a 400K mortgage at 1.15% will give you a payment of $1,534.30 ( 25 year amortization as well). By setting your payment at the fixed rate of 2.59% you will pay 1,809.84. The $275.54 extra that you are paying goes directly towards your principal further reducing your mortgage by 4.3 years and saving you $10,726 in interest. There is a link to my mortgage calculator below, where it says mortgage app.

Today I am thankful for warm chocolate challah bread which was the best post workout snack ever, the opportunity to practice my french yesterday which always makes me feel better and Christmas music in every store.

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

Meeting Request

Earlier this week on the regular mortgage mastermind group that I attend with Dustan Woodhouse. He asked the group what are you doing different now vs prior to the pandemic. The most common response was that we are not doing any more face to face meetings. 20 years ago when I started it was the common practice. However with that practice comes the down side of lost productivity time.

To meet someone in person requires that you leave the home office up to 30 minutes beforehand to allow yourself to arrive on time and so you can find a place to park. Showing up late is not in my vocabulary. Take a few minutes for chit chat and then talk about the important stuff and lo and behold the meeting takes about an hour. So now with the commute back in possibly rush hour traffic has now resulted in a loss of 2 to 2 and half hours of time. All of which could be accomplished by meeting virtually or over the phone.

I am more productive staying in the office and working on getting my clients files approved and finalized than running all over town. I mean no offence to say this as my clients and referral are wonderful people, it’s just that in 99% of the time we don’t have to meet in person. To meet virtually is actually a very easy process, just click here and pick a time that works for you and make sure that your camera is on so we can connect.

Today I am thankful for meeting up a friend that I have not seen in a very long time yesterday, neighbours homes starting to look festive and options for clients when others had said no.

“The least productive people are usually the ones who are most in favour of holding meetings.” Thomas Sowell

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

Google it

If you don’t know something you Google it. Yes the company with the same name has also become a verb describing the action of searching for information online. If you want to learn how to cook, you Google it. The same for working out, learning a new language, buying insurance, buying a new home or getting a mortgage. It ( and countless cat videos ) are all on line for your browsing pleasure.

However like in Captain America Winter Soldier, your life is a digital book and most of it now is online. Your prospective employers don’t just call your references, they also check you out online. The same can be said for your prospective romantic partners. Only the naïve will take what is presented on the dating app or site at face value. If they are smart they are also confirming the details by doing their own research.

All of this brings us to mortgage lending. We frequently know more about our clients lives than their employers, friends or even spouses as we have to have the complete financial picture in order to secure them financing. All of this requires full disclosure on the client’s behalf about their past. So if you think that redacting out parts of your bank statements as you don’t want lenders to know where you have spent your money will help you, it won’t and usually results in an automatic decline. These same lenders are also checking into you online. Sadly Google, Facebook and Twitter don’t forget your past indiscretions, so please disclose them upfront so they can be dealt with properly, and not surprising us at the end when the lender does it.

Today I am thankful for frank and honest discussions with clients, great conversations with other dog owners on my morning walk and to my American friends their Thanksgiving.

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

What a relief

“What a relief!” is what you say when a stressful event is finally over. With a mortgage, you get to say it sooner when you talk to a mortgage broker before you decide, not after. Most of the stress comes from not knowing, and knowing is the cure.

It could be after a wedding, a divorce, a big race you trained for, or the closing of your mortgage. You look back and realize the worry was bigger than the event. Nothing tragic happened, and the stress mostly kept you from enjoying the days leading up to it. I wrote about this feeling years ago, after a situation I had worried about all night turned out to be nothing. The quote that stuck with me was from Franklin D. Roosevelt: “We have nothing to fear but fear itself.”

When do people say “what a relief” about their mortgage?

Here are the moments I hear it most, from people who talked to me before they decided:

  • Before signing the renewal letter. They thought their lender’s offer was the only offer. Then they saw what 45 lenders would do on the same file. You do not have to renew with your current lender, as the Financial Consumer Agency of Canada explains.
  • Before making an offer on a home. A pre-approval told them what they could afford and what the payment would be, so they shopped with confidence and not hope.
  • Before changing jobs or going self-employed. A quick conversation showed how a lender would look at their income, so the timing of the move did not put a purchase or renewal at risk.
  • Before a separation or a buyout. They learned what they could qualify for on their own and had a plan before they needed one.
  • Before things got tight. Talking early left them with more options than waiting until a payment was a problem.

Why does talking to a mortgage broker early reduce the stress?

Because it replaces guessing with a plan. A mortgage can feel like a pile of unknowns: what you qualify for, what the rate will be, what happens if something changes. Once you have answers, most of the worry goes away. It is also much easier to make a good decision when you are not under a deadline. That is the same idea I wrote about in Book ’em, Danno: book early, and you get options.

What should you do if a mortgage decision is worrying you?

Frequently Asked Questions

What does “what a relief” mean?

It is what you say after a stressful event is over: a wedding, a big race, a closing, or a difficult decision. It is the moment you realize the worry was bigger than the event itself.

When should I talk to a mortgage broker?

Before you make the decision, not after. Talk to a broker before you sign a renewal letter, make an offer on a home, change jobs or buy out a partner. Knowing your options first is what turns stress into relief.

Does talking to a mortgage broker commit me to anything?

No. A conversation or an application to see your options does not obligate you to take a mortgage. You decide what to do with what you learn.

Can I switch lenders at renewal?

Yes. You do not have to renew with your current lender. A new lender has to approve you and may charge setup costs, so it helps to compare the full cost of each option, not only the rate.

This post is general information, not financial advice. Lender policies and approvals vary, and all financing is subject to lender approval.

Want to say “what a relief” about your mortgage? Send me your application and I will walk you through your options before you decide.

I look forward to hearing from you in regard to your mortgage needs.
902-465-5533. I answer.
Patrick

p.s. Ready to start? Apply here: https://craigburn-capital.mtg-app.com
p.s. Prefer to talk it through first? Book a time with me here: Schedule a call
p.s. FSRA Principal Broker License #M23006699, Craigburn Capital. NS Brokerage 2026-3000179, NS Broker 2026-3000180.
p.s. Get the Craigburn mortgage app: https://craigburn-capital.mtg-app.com

Patrick Sawler is a mortgage broker and owner of Craigburn Capital, licensed in Nova Scotia and Ontario, with private financing available in New Brunswick and PEI. He answers his phone. Service aussi disponible en français.

Call 902-465-5533 or start your application today.

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