Tag Archive for: Mortgage solutions

Track It

In today’s modern world there is data for everything, from your daily steps, calories consumed, money saved or spent, distance ran or biked to amount of sleep. It has often been said that you can’t change what you don’t track. This goes for everything from your weight, your finances, your fitness or your sleep.

If it is important to you then you should be keeping track of it on a regular basis. In order to improve yourself you first need to know where you stand today and the best way to do that is track your current and past results.

Want to improve your finances then you should be keeping track of how much you make and how you spend it. Start first with recording everything for a week, incoming and outgoing. For any change to happen you need to know your baseline. From there you will have the data necessary to make any needed changes.

When you think about it the successful people and companies are using data all the time to improve. From professional golfers, tennis players, baseball, basketball and hockey. They all surround themselves with data all the time, comparing where they are now in their training cycle to where they want to go. Companies do this as well so they know how well they are doing with the products and services they offer.

So for any change to happen in your life and have it last you first must track it, and use that data to improve your results going forward.

Today I am thankful for my daily reading habit, picking up new ideas and concepts on a daily basis from someone else’s experience and new data from my latest fitness effort on the weekend so I know where I have to improve.

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 Brokerage (2021-3000179) Broker (2021-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

Silver Lining

If you are like most people there is probably some part or someone in your life that doesn’t make you happy. If this is the case then it sounds like a little change in perspective is in order. It is so easy to think about all the things that make you mad, that in and of its self is unproductive and will take you toward a no win scenario.

So instead of continuing to think what you don’t like or what’s not working, focus on what you like and what you are grateful for and a whole world of opportunities will open up to you.

Out of shape, be grateful that you now realized this and that it is in your power to do something about it

Too much debt, talk with your creditors if you have to but also realize that you are not alone and plenty of people have been in the same situation and climbed their way out.

Less than ideal relationship with your spouse or kids, start making a list of what you love about them and focus on that instead.

Hate your job, find something that you like about it and focus on that and do it to the best of your ability.

Today I am thankful for a great early morning run with the neighbour after the rain had stopped, quiet house as my kids are all working today and the slower pace of Sunday’s.

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 Brokerage (2021-3000179) Broker (2021-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

Double up

Roughly one year about the fixed mortgage rates for a 5 year AAA client were 2.04%. Now the rates for the same term is 4.59%. While much higher thank last year it has come down in the past few weeks from it’s peak of 5.09% back in June.

Let’s say that you were one of the lucky ones who got a fixed rate mortgage last year with a rate of 2.04%, 25 year amortization and 300K mortgage balance with a payment of 1276.15. Most of the lenders I deal with have excellent pre payment privileges, from putting an extra 15 to 20% of your principal directly on your mortgage once per year or doubling up your payments.

Since not many would have an extra 45-60K just lying around to put directly on your principal but you’re doing well this year and as a result want to take advantage of the double up feature. Everything on and above your prescribed mortgage payment of 1276.15 which is a mix of interest & principal will go directly to paying down the principal. So by doubling up your payments, you will pay off your mortgage 14 years early and have it paid off just over 11 years instead of 25. Just something to think about if you are lucky enough to have a low fixed rate mortgage.

Today I am thankful for a nice 50K bike ride with friends this morning, because of an early start I was back early enough to get some work done and new gears on my bike made it much faster.

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 Brokerage (2021-3000179) Broker (2021-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

Self Care

No matter who you are, there all comes a point where we must take care of ourselves. You can’t help friends and family with money if you yourself are experiencing money problems. You can’t help others relax if you yourself are overly stressed. You can’t help friends and family with their health if you yourself are also in poor health.

When we take care of ourselves first, it makes it that much easier to take care of everyone else that is important in our lives. So take care of your money so you can help those you love if it is needed. The same goes for your health, both mental and physical health are equally important.

Don’t feel guilty about taking some time to take care of yourself, we all need to do that from time to time. Even those of us who place the needs of other before our own ( all the Mom’s out there) still need to take breaks to take care of yourself too.

Today I am thankful for a great massage therapy session this morning, expert contractors who are fixing the leak in my office and when my kids are all out of the house at work.

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 Brokerage (2021-3000179) Broker (2021-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

Peak Inflation

The US inflation numbers came out yesterday and it showed that inflation has started to come back from it’s high of 9.1% in June to 8.5% in July. So this has many of us hoping that we have hit peak inflation. Most of the reduction stems from gas prices coming back from their highs in June. The month over month prices of good and services were flat with a 0% change from June to July and this is after hitting a 17 year high in June.

So while this is positive news, the true indication will be where the numbers go for next month. Will this report be just a fluke or a true indication that inflation has started to reseed from it’s highs. If this is the case will bond yields come back down and bring the fixed rates with it? This has already started as rates are now about 1% off of their June highs but is there still more room for them to come back down. How will all of this effect the central banker stance on the over night interest rates?

So let’s take the good news out of the US with a grain of salt for now and see how the Canadian numbers look when they are announced next week. However the true test may be when the Bank of Canada meets on September 7th to discuss the overnight lending rate, which if you remember the last time they met in July it went up by one full percentage point.

Today I am thankful for the fact that the repair work on my office is almost complete, my girls are getting excited to start their university education next month and that the humidity has left us for the time being.

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 Brokerage (2021-3000179) Broker (2021-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

Compliance

compliancekəm-plī′əns

noun

  1. The act of complying with a wish, request, or demand; acquiescence.
  2. Willingness to follow a prescribed course of treatment.
  3. A disposition or tendency to yield to the will of others.

In the mortgage industry compliance is a necessary part of business. On one side it is about doing what is right for your clients and on the other side it is about adhering to the rules and standards as set forth by our local licensing body. It’s not just a cool song by Muse.

I see my role with clients similarly to how a fiduciary would act in the financial planning field. That means I work for the clients to help them secure the financing that makes the most sense to them and as a result of a job well done I receive compensation as a result. Those who put clients in products or services as they will receive more commission are not acting in the clients best interest.

Full disclosure for me with clients means they know the details about the products, if it I a fit and my potential compensation. Yes this is a business, but by working for the client the commission only comes as a result of a job well done.

Today I am thankful for a great conversation with an old friend, some new financial advice from my investment advisor and lunch with my son 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 Brokerage (2021-3000179) Broker (2021-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

Surprise Visit

Would you be ready for a surprise visit to your home if someone showed up unexpectedly. It could be CRA, the local police or heaven forbid your in-laws. I always advise clients when an appraisal is necessary to have your home prepared as if you were having an open house as it will show pride of ownership.

So look around your home now, are there piles of laundry all about the place, dishes piled high in the kitchen and newspapers or periodicals scattered throughout the house. Are you filled with a sense of pride or a dread that anyone would see where you live. You may say that you are too busy to have a clean home or that you like your organized chaos. However there are lots of people who have plenty of kids, work a full time job and still manage to have a clean and tidy home.

I have had clients come to me for financing as they were in a tricky spot and when the lender saw the state of their home that the offer for financing was rescinded. We all have the same 86,000 seconds in a day, it is how we use them that matter the most. Your home does not have to be in a “Better Homes and Gardens” or “Architecture Digest” form, but it should present well enough to show that you care about where you live. This should not matter if you rent or own the property to have a place that you would feel comfortable showing your surprise guests.

Today I am thankful for night time temps that made it very conducive for sleeping, a surprise visit to a prominent citizen that made for very interesting news today and a quick fix for a recent automotive problem.

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 Brokerage (2021-3000179) Broker (2021-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

Dog days of Summer

According to the Almanac this is what they have to say about the dog days of summer.

“The term ” Dog Days ” traditionally refers to a period of particularly hot and humid weather occurring during the summer months of July and August in the Northern Hemisphere. In ancient Greece and Rome, the Dog Days were believed to be a time of drought, bad luck, and unrest, when dogs and men alike would be driven mad by the extreme heat!”

The good news is that we only have 3 days left according to them as they normally last from July 3rd to August 11th. I love the hot days but could do with some cool nights.

Today I am thankful for the repair work that is finally happening on my home office, people who show up on time and as promised and finishing a run this morning when all I wanted to do what quit.

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 Brokerage (2021-3000179) Broker (2021-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

Be the hero

Be the hero instead of the victim in your own story. Shit happens to all of us, but don’t dwell on it nor focus on it. Acknowledge that it happened, learn from it and move on with your life. Instead focus where you want to go rather than what happened or who hurt you.

People are drawn to those who have a clear vision of where they want to go and what they want to do. Nobody wants to hang around with a woe is me or someone is is constantly the victim. Be the hero and take charge of your own life, make things happen and don’t worry or focus on the things that you can not control or events or circumstances that happened in the past.

Today I am thankful for a great early morning run before it got too hot, an unexpected trip to the valley and last minute change of plans for lunch that turned out to be the best meal out that we have had for a very long time.

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 Brokerage (2021-3000179) Broker (2021-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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

Challenge Accepted

What I always tell my clients is that, where there is a will there will be a way. There is nothing like the satisfaction from closing a challenging file. I have had many in my years as a broker and they always feel good when you can get them to close. It could be unique and challenging credit situation, particular location or type of property, a unusual income confirmation or any number of things.

I will try any and all legal and ethical ways to get clients files to close. When these challenging files close, irregardless of the mortgage amount there is always a celebration and sigh of relief. There have been commercial files that have take 18 months to close and residential files that have had multiple declines, approvals or submissions before we found one that worked with everyone involved.

Each file is as unique as the people it represents. So solutions have to be tailors to your wants, needs and expectations. The advantage of dealing with a broker is that we have a wide pool of options from many different lenders for our diverse and different clients.

Today I am thankful for the cool breeze that is blowing through my house, the feeling of relief when a challenging file finely closes and the lessons learned by taking on files that make me work harder.

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 Brokerage (2021-3000179) Broker (2021-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).

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