Tag Archive for: mortgage professional

Get up, Stand up and Show up!

Get up early and be proactive and plan you day. Know your targets and work towards them. Putting fires out all day and reacting to everything around you is not how to do it. Nothing great has ever been achieved by those who sleep till noon every day. Getting up at 5am and in bed by 9pm is not that difficult when you prioritize what is actually important.

Stand up and move your body. Exercise really is good for the soul. I’ve discovered no better mood booster than a quick intense workout. Also stand up for your self. Don’t let others push you around, yet don’t be a bully yourself. Also stand up for the rights and freedoms of those around you. When you strip away everything we all human and all the same and should all be treated equally.

Lastly and equally important, show up! Show up on time for your job, arriving exactly when your job starts at 9 means that you are late. 10-15 minutes early is actually on time. Show up for your appointments on time, not valuing someone times is a huge mark of disrespect. Showing up is a key component to success, so show up for company trainings, show up for trade shows, show up for conference calls and show up for your family. At the end of our time here we don’t want to say that we wished that we spent more time at the office.

Today I am thankful getting up early today to do my stretching and walk my dog, for my morning run even though the conditions were not ideal but runners run and for showing up for commitments every day and looking back at all the progress that has been made.

“Showing up is essential. Showing up consistently is powerful. Showing up consistently with a positive outlook is even more powerful.” Jeff Olson

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

Sink or swim

We are either treading water trying not to sink in life or we are swimming towards our goals. There is only one or the other. I became all too familiar with this recently as I was dealing with a challenge that came up unexpectedly. I was making progress for several months in a row and felt like I was on a roll. Then the challenge appeared and my progress came to a screeching halt.

As much as we would like to think that we can multi-task, sometimes it is much easier said than done. It’s hard to hit home runs if all you are thinking about is not striking out. It is also hard to save for a down payment if all you keep thinking about is paying your rent and keeping food on the table.

Changing your focus creates magic in your life. I will confirm that, as soon as the challenge was overcome the progress returned 10 fold. Don’t think about trying to make some progress, become steadfast in your approach and heed what Yoda said and “Do or do not, there is no try.”

“Mulit-tasking is merely the opportunity to screw up more than one thing at a time.” Gary W Keller

Today I am thankful for the lessons learned from challenges and the feeling of relief of over coming them, that extra hour of sleep as it felt good at the time and friendly reminders for overdue tasks.

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

All said and done

When all is said and done then you can put your guard down and celebrate. However beware of premature elation. You financing is not complete when the vendor accepts your offer. It’s not complete when your mortgage request has been approved. It’s not complete when all financing conditions have been approved.

It is only complete when your solicitor/lawyer/notary has received the funds from the lender and dispersed them and you have received the keys. Only then can you finely celebrate and then look at getting the new car that you have been putting off or the appliances that you needed. Not before.

This is because there have been so many horror stories about clients going and financing a new car after they have gone firm on their home purchase thinking all was said and done. Only to find out the the lender does a second credit check just prior to closing and now their debt service was out of whack. Don’t let this happen to you.

Today I am thankful for seeing deer for the 2nd morning in a row on our morning walks, calls from friends overseas just as my day was starting and their’s was finishing and what was perceived as a mountain of a problem turned into a molehill.

“If your actions inspire others to dream more, learn more, do more and become more, you are a leader.” ~ John Quincy Adams

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

Make One Change

What if I told that you that you only had to make one change that it would exponentially improve your odds of success would you do it? It’s not the latest app or gadget and anyone can do this. It is the building block of all achievement, it is the belief that you can do it. You see with belief you are willing to try new things and persist through the failures until you succeed.

I though about this one fact while watching a few minutes of the Tampa Bay Bucks game against the Chicago Bears last night. I will admit that I am not a football fan and would readily watch any other sport but their quick reversal of fortune intrigued me.

You see prior to Tom Brady joining the Bucks last year Tampa had a record of 5-11 in 2018 and 7-9 in 2019. Finishing out of the playoffs both years. Then with the addition of Brady and his proven track record of winning they finished last year 11-5 and won the Super Bowl. However I think it was more than the addition of this Hall of Fame player, it was him also instilling in them the belief that they could do it.

Wouldn’t you agree that we always have performed better when someone intensely believes in us. In fact there are countless movies where just the addition of a teacher or coach who has profound belief in his/her students/athletes immediately effects their results. Henry Ford said it best when he said ” whether you think you can or can’t you’re still right”. With that in mind make this one change and see how your life changes.

“If I have the belief that I can do it, I shall surely acquire the capacity to do it, even if I may not have it at the beginning.” Mahatma Gandhi

Today I am thankful for the two deer that greeted me and my dog on our walk this morning, great chats with old friends and the optimism for a great week ahead.

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


Mortgage Math Revised

A few years ago I wrote a post about how you can calculate out your own debt service and figure out on your own how much house you can afford. A lot has changed since I published that in 2015, so today I wanted to update a few key components to that prior post.

Insurer’s ( CMHC, Sagen & Canada Guranty) have revised the debt service requirements ( GDS/TDS). See the prior post for the definitions. What was once the limit at 32/40 has now changed to 35/42 and up as high as 39/44. Note that these new limits are based on your credit score. If your beacon score is between 650-680 you can now qualify for 45/42 and those over 680 beacon scores can now qualify for 39/44.

Also one must not forget the fantastic qualifying rate of 5.25% that all mortgages must qualify for even though the current rates are much much less.

So here is a quick example. Say that your engineering job pays you 70K per year and you have 750 beacon score. Let’s assume for now that there are no other outside debt to make the example easy. 70,000/12=5,833.33 X .39 = 2,275. This is now your maximum mortgage payment for GDS before household expenses.

Now for TDS the process is the same but with a different ratio. 70,000/12 = 5,833.33 X.44 = 2,566.66. This is now your maximum payment for TDS before household expenses and debt payments.

To figure out what your maximum mortgage you can afford, you take the lesser of the two ratio’s which in this case is 2,275 and divide that by the the qualifying rate of 5.25 and multiple that by 1000. So 2,275/5.25 = 433.33 X 1000 = 433,333.33. This is your maximum mortgage amount.

“Pure mathematics is, in its way, the poetry of logical ideas.” Albert Einstein

Today I am thankful for the beautiful fall colours, the crispiness in the air and the feeling of euphoria after a great 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

Off Day

Every now and then we have an off day where we just take a mulligan and restart from scratch the next day. Yesterday was that day for me.No excuses and I am back on the horse today.

Today I am thankful for a chance to restart when I had fallen off yesterday, walking up to spring time temperatures and new opportunities that have just arrived.

“You know, Hobbes, some days even my lucky rocket ship underpants don’t help.”
― Bill Watterson

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

Get it in writing

Important events in your life should always be received in writing. A handshake is good for a greeting not for a formal agreement. I had a prospective client call me yesterday and tell me that the previous broker they worked with got them pre approved but that they had never received it in writing.

Job offer’s for any reputable company are always received in writing. Part of the marriage ceremony is to sign your marriage certificate. If you go into business with someone you enter into a partnership agreement. When I take on commercial clients I have them sign a mandate agreement. Most importantly when you buy real estate you need to get it in writing.

Also to illustrate this is that your pre qualification is only a rough calculation of what you can afford based on what the clients disclose. A pre approval is NOT a pre approval unless it is received in writing. In writing it will have the rate that is being offered, for how long it is held for and the amount of the pre approval.

Today I am thankful for crisp cool nights and still some warmth in the afternoons, getting to practice my french during my daily calls and the new licensing process is almost complete.

“Do one thing every day that scares you.” Eleanor Roosevelt (she was awesome)

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

Fall Colours

With the cooler weather there is no better time than now to take a day trip to go around the Cabot Trail in Cape Breton and see the beautiful fall colours. This also happens to coincide with family’s annual October contest. This is one where we try to make it till November 1st before we turn the heat on. So until then enjoy the beautiful scenery and put on a warm weather and wool socks.

“Winter is an etching, spring a watercolor, summer an oil painting and autumn a mosaic of them all.” Stanley Horowitz

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

Accentuate the positive

Life is far too short to go though it always focusing on or talking about what’s not working or thinking about what may not work. Nobody wants to associate with someone who is always complaining. We much more enjoy hanging out with those who are always laughing and who are the life of the party.

Also by accentuating the positive you are opening yourself up to more possible solutions when challenges do arise. Our lives aren’t always perfect however by focusing on the positive you end up getting more of that and when problems do arise they tend not to be a very big deal anyway.

The age old expression of you get what you think about is so true so control the little demon between your ears and start thinking about what you want more of in your life.

Today I am thankful for my internal alarm clock waking up up at the perfect time even though I was up far too late working last night, my son who had a very happy birthday yesterday and my dog who was willing and able to help him unwrap his presents.

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

Under Pressure

Success is often a combination of perspiration and desperation. Admittedly we all work better with a little pressure as there is nothing like the power of a deadline. This could be a final exam, a term paper, a due date for a bill or even something positive like a vacation. Sitting in your comfort zone is boring and it doesn’t move you toward your goals.

What is pushing you to do better today? If you can’t quickly think of something then what could be motivating? Looking to lose a few pounds, take a nice vacation, pay off some bills, get a promotion, start your own business or save for a down payment for your house. Write it down and see what it looks like and feels like and start working toward it.

Diamonds are created under pressure! Harness that pressure is a positive way to help you move forward quickly toward your objectives. The alternative is a lump of coal and nobody wants to be that.

Today I am thankful for all the pressures that are pushing me everyday to do more and be more, the little beagle puppy from down the street who always stops by to say hi and for my son who is turning 15 today as he makes me proud for the man that he is becoming.

“When we long for life without difficulties, remind us that oaks grow strong in contrary winds and diamonds are made under pressure.” Peter Marshall

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