Tag Archive for: mortgage professional

Get good at something great!

Let’s just face it that we are all good or great at things that don’t serve us. Who among us does not excel at procrastination! Better yet watching tv, eating junk food, playing video games, wasting your money, shopping, drinking or hours spent on social media. I am sure you are saying that everything in moderation is fine. However what has it gotten you so far???

So why not get good a something that moves you forward! This does not matter if you currently are a barista at Starbucks, a cook at McDonald’s or a customer service representative at a call centre. Being great at what you do gets you noticed, gets you promoted and helps you succeed. No job is worth doing unless you are doing it well.

I love what I do, let me be your mortgage expert and help you get your financing for your first home or your dream home.

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

Pat

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).

24 Hour Service!

You have to admit that we live in a busy non-stop world. As long as you have internet service you can shop on-line 24 hours a day, stream the latest tv show, movie, do general banking or in most cases get tech support if you needed it.

However our modern connected world does have it’s limitations at what you can do at 2am on a Tuesday or 8am on a Sunday. Craving for a burger at those hours it isn’t going to happen. Same goes for getting your dry-cleaning done. Can’t have a consultation with your lawyer or your accountant either. In my business there are things that I can or can’t do if I happen to be available to chat during those hours.

Thanks to my chat bot that I have on my website, I get a notification on my phone, my watch or my computer if I have a new visitor. Now like most people I do have down time, but I am generally awake, near my phone or have my watch on from 6am till 10pm most days. This means that before and after regular banking hours I can and will happily answer general enquiries or respond to client questions. However note, that outside regular banking hours I am unable to get your mortgage approved or issue unconditional finance letters without first consulting with the lender.

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

Pat

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).

Fix your Variable

Most people like the fixed mortgages for peace of mind it gives them knowing that their payments will be the same every month. Those who go variable or adjustable rate mortgage like that they paying less than those on fixed rates 9 times out of 10. However there is a way to give you both the peace of mind of knowing that your payments will not change while still staying on a variable rate mortgage.

To do this simply contact your lender after your mortgage closes and request to increase your payment. Depending on the lender they will allow you to increase it by as little as $100 per payment or up to 20% of your principal amount. So for example say that your mortgage payment was $1000/month as set by the lender. This payment includes principal and interest. Because you’re so smart you have requested to increase your monthly payment by $200 to $1200/month. This means that your extra $200 per month works out to $2400 a year or $12,000 over 5 years that goes straight towards to principal balance of your mortgage.

This will allow you to become mortgage free faster, and who doesn’t want to do that. You see mortgage are just a tool to help you get into your first home or your dream home. You shouldn’t have one forever. Make extra payments and pay it off sooner.

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

Pat

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).

Work in progress

Let’s face it, we are all in some way or another a work in progress. Always striving to improve and better ourselves. We want to be in better shape, make more money, have a better relationship, get out of debt, learn a second language, travel the world or better yet learn more and faster.

If you believe you are the way you are and nothing can change that, you need to read Mindset by Dr Carol Dweck. We all have the capacity to grow and improve, you just have to learn the right strategies.

You want to run a marathon, start by walking, then jogging then running short distances and build up from there. The best way could be to do it for a good cause like this one.

You want to make more money, focus on being excellent at what you do now. Excellence has a way of getting noticed and getting promoted.

Want a better relationship, love yourself first then treat others how you want to be treated.

You want to get out of debt, you need YNAB. Nothing is better at helping you get in control of your money.

If learning a second language is on your list, consider starting with Duolingo. It’s great and helping me keep my french alive.

If traveling the world is on your bucket list, I would seriously wait until our current COVID-19 pandemic is behind us. In the mean time you can go to the local book store and start picking up travel guides.

This one is easy if you want learn more and faster, then stop watching tv and replace that time with reading. Start with a few pages or 15 minutes a day and go from there. Pretty soon you are reading a book a week. There is nothing better.

Now if you want to get into first home or your dream home, then I am your guy. In my 19 years of doing this I have encountered almost every type of scenario.

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

Pat

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).

Just good enough is NOT good enough!

Sure just getting a passing grade will probably mean that you will graduate high school but just scraping by is not a recipe for success in life. I am sure there are many careers for you if you just want to put in your time, get a pay check and drink with your buddies.

You wouldn’t want the doctor who barely passed med school to operate on you. The lawyer who squeaked by the bar exam to represent you in court. The accountant did the minimum requirements for their CA designation to prevent you from getting audited.

Let’s face it if you have a tooth ache you don’t try to do your own dental work. We all know what it looks like if you cut your own hair ( for those lucky few who still have lots of hair). There are many back yard mechanics out there but I wouldn’t go to them if my vehicle needed serious repairs.

The same applies to your mortgage. It’s because there are lots of brokers and lenders out there that you need to work with someone who will help you sort through it all and find the best product that meets your particular needs. Be aware that shopping for rate alone may come back to haunt you when you find out your lender doesn’t have a portability clause, or calculates your penalty on posted rates or that your mortgage is locked in and closed and you can only break it with the power of sale.

“We are what we repeatedly do. Excellence then, is not an act, but a habit” Will Durant 1926 ( Sorry not Aristotle folks)

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

Pat

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).

Are you sitting on a “Gold Mine”?

“A penny saved is a penny earned”, or so the old proverb goes. Of course, the value of a penny has changed somewhat from the time when your mother offered her wisdom on the value of keeping what you earn. Today, you could save thousands of dollars by simply making the right mortgage decision. If you are like most Canadian homeowners, your mortgage could be a gold mine of potential savings.

In the past few articles, we have talked about the importance of your mortgage as one of your most significant financial decisions. We have explored the value of seeking the advice of a mortgage professional whether you are buying, or renewing your current mortgage. Today, let us take a look at the bottom line, the savings that you can enjoy by making the right mortgage decisions.

It is the primary goal of a mortgage professional to find you the right mortgage product for your personal situation. A good mortgage professional is a financial professional and like your investment advisor, they want to understand your personal situation. Your mortgage professional has access to a wide variety of lenders, from institutional, trust to private, so they can help you to do some valuable comparison shopping for the right combination of terms and conditions to suit your needs.

All these choices offer you substantial opportunities to save money over the life of your mortgage. 

If you are like most homeowners, you are focused and for good reason on finding the best possible terms for your mortgage. ( Notice I did not say rate!). A good mortgage professional will find you the best possible rates and terms to suit your needs. If we can talk about rate for a second, if I can save you 1% on your rate, that would translate to more thank 13K in interest per 100K borrowed over 25 years. 

As I said there is more to it than just rate. There are other ways to find savings in your mortgage. A good mortgage professional is up to date with the latest terms and conditions, and we can custom fit a mortgage for your requirements. 

As I covered in previous postings there are many ways to mine your mortgage for gold. If you are interested in how your mortgage may be used to help you live a debt free lifestyle, then ask us about a no obligation debt analysis. So we can show you how much sooner you can be living a debt free lifestyle.

 

Cheers,

Pat

Mortgage Brokers are helping more and more people!

When it comes to mortgage financing, more and more Canadians are choosing to work with a professional mortgage broker. According to a study conducted by CMHC, over 25% of mortgages  were originated by mortgage brokers.

Canadians are just catching up with our American neighbors, who are far less likely to just walk into their neighborhood bank for a mortgage. Over 70% off all American mortgages were originated by a mortgage broker.

If we follow the U.S. model and that seems most likely, then Canadian are in for changes in the way that they manage their most significant personal asset. It all makes sense, investment returns are not as lucrative as they were just 5 years ago and investors are looking for ways to make gains through avenues that they may have overlooked.

There are some significant benefits to working with an independent mortgage broker. Firstly, let’s compare mortgage expertise: Most banks have one or more representatives who are specifically assigned to assist with mortgages. Their role is to develop mortgage business for the banks. An independent mortgage broker on the other hand is a trained mortgage professional who has met standards for education. The comprehensive training of an independent mortgage broker may exceed the training of their counterpart at the banks. Most importantly the mortgage broker is independent. They are not employee’s of a lending institution, however they have access to terms and conditions for a full spectrum of charted banks, and other lending institutions. Their role is the find the best possible terms and conditions that meet your needs.

Let’s also look at choice: An independent mortgage broker offers you access to many competitive lenders, each with a range of mortgage options. It would take weeks of research, telephoning and personal visits to recreate the range of terms and conditions that a mortgage broker has at their finger tips. Rate information, mortgage options, and payment schedules are up to the minute, so you and your broker can make valid comparisons of the options available. The result of all this choice is a mortgage witch is customized to meet your needs and to save you money.

Also consider accessibility. Your mortgage does not sleep, just kidding, but we are available to you both before and after your mortgage closes. However if you prefer you can be put on hold or get put in an endless voicemail answering loop at your local bank.

Over all clients have turned to mortgage brokers for better terms and conditions. Access to a broad range of lending institutions is also a critical advantage to mortgage shoppers. If we can just save you a quarter point, that can save you thousands of dollars over the life of your mortgage. Many mortgage brokers work with large brokerage firms with sufficient mortgage volumes and that can help get you the best possible rates and terms for your mortgage. Canadian who have used a broker, are more likely to continue using one than to ever return to a world where they have to accept the best posted rate at their local bank.

Add a mortgage broker to your team!

For most Canadians, buying a home is the largest financial decision they will make in their lifetime. Yet, consumers across the country are more likely to painstakingly review dozens of investment possibilities for their portfolios than to scrutinize their mortgage choices. 

The mortgage world like the investment world can sometimes be confusing. There is a vast array of choices, open, closed, fixed, variable or floating, long or short amortization, prepayment options, portability and of course the rate itself. Making the right mortgage decision can have a huge impact over the long term.

Many Canadians have an investment advisor to help them sort through all their investment choices. Now Canadians are also beginning to turn to Mortgage Brokers to help them make better mortgage decisions. We are just starting to catch up with our counterparts south of the border, ( American’s rather than Mexican’s for those with less then stellar geography skills) where mortgage brokers currently originate about 70% of the mortgages.

So what is a mortgage broker? ( See my last post or read on for a summary) The role of a mortgage broker is to understand your mortgage needs, seek out the best terms and conditions for your situation, and guide you through the lending process. A mortgage broker does not work for any individual institution or lender, but is independent, and has up to the minute terms for a wide variety of banks and other lending institutions. 

  There was a time when the banks exercised the view that they “ owned “ their customers, and mortgage brokers were perceived only as a last resort for consumers with less than perfect credit history. However times have changed, and consumers of every type are learning that they can benefit from the professional advice of a mortgage broker.

Just as a good investment advisor can make you thousands of dollars, a good mortgage broker will save you thousands of dollars. Whether you are buying for 1st home or your 5th, renewing your mortgage, or just looking for sound mortgage advice, then you should consider adding a mortgage broker to financial team this year!