May
20

Fatherhood

A week ago I had my first child, a son named Gabriel. He’ll be responsible for following up with clients after meetings, but I’m going to be taking a small break from blogging until I adjust.

Thanks smile

May
10

Keys To A Worry-Free Mortgage

Today there is a great article in the Globe and Mail about keys to a worry-free mortgage. The article states five things that a buyer needs to assess and decide on when picking a loan:

The size of the loan.
The amortization.
Whether to take fixed or variable.
Whether to take traditional or collateral.
What fees or restrictions there are.

This is all good and dandy, but do you expect your branch to give you all the options when deciding the above? For example, if you go to TD, you only have the choice of a collateral mortgage. If you go to RBC, you can’t go to 35 or even 40-year amortization. If you were to go to BMO, perhaps you won’t qualify for that slightly bigger loan. CIBC may not offer you the best fixed or variable rate.

So what is the key to a worry-free mortgage?

Simple.

Work with a mortgage professional, an agent, a broker. Call us whatever we are, but having helped so many first-time buyers so far, I have realized that we simply offer more choice, more knowledge, and more experience than many of my branch counterparts. Choice being the key offering, of course. Many times I get a client who insists on managing their cash-flow to the point where they want a longer amortization, but make large lump-sum payments at years end. This type of option isn’t available at the branches. Other times I’ll get a client who is very rate sensitive, and I am able to work with multiple lenders to get them the best deal. Primarily though, what I do is all I do. I don’t worry about your other banking products, I only worry about your single biggest investment (and…

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