Hi everyone, and welcome back to the Mortgage Studio Blog! I’m Michele Ellis, Senior Mortgage Broker at the Mortgage Studio. In last month’s post about new federal mortgage regulations due to come into effect in January, I urged any readers thinking about changing or applying for a mortgage to give me a call so we could talk through your options. I know I heard from some of you, and I hope to continue helping people wondering what to do between now and the end of the year with regard to these particular new guidelines. However, my job as a mortgage broker extends far beyond guiding Canadians through big changes to the mortgage market, and so I wanted to take this post to briefly explain the services I provide even when there aren’t big changes like these on the horizon. So, without further ado, why should you use a Canadian mortgage broker?
Brokers Can Help You Figure Out Your Perfect Mortgage
A lot of people who come to me looking for mortgages are first-time home buyers who have never had reason to give mortgages a second thought. Even for more experienced homeowners, it’s difficult to take personal goals and desires about the future and translate that into smart personal mortgage policy today. Is it better to look at fixed or variable-rate mortgages? How much of a down payment do you need to save, and, for that matter, how big of a mortgage can you reasonably expect to be approved? Questions like these – and the countless others that stem from the minutiae of federal, provincial, and private mortgage requirements – are ones that I’ve encountered every day for the past 20+ years. I know not just how to answer them but how to answer them in the way that makes the most sense for you and your personal financial situation. And since I’m not tied to any single lender – unlike the mortgage representatives at your bank – you can trust that my advice is 100% unbiased and professional.
Brokers Deal With Complexity So You Don’t Have To
Buying a home is one of the biggest purchases you’ll ever make, and it’s complicated and stressful enough already without trying to hunt down the best rate for your mortgage (and that’s if you even know what sort of rate you’re looking for!). Mortgage brokers like myself handle this entire process on your behalf, from getting a sense of your financial situation and shopping for rates to getting you pre-approved, approved, and finally, securing financing. Your only role in the process is giving me a call to get the conversation started – after that, you can sit back, relax, and let my years of experience do all the hard work for you.
Brokers Don’t Cost You a Dime
This is the part that sounds too good to be true, but 99% of my clients don’t pay for my services at all. This is because mortgage brokers are paid directly by lenders, who are just as happy to be hooked up with perfect customers as my clients are to be hooked up with perfect rates. The only exceptions to this involve situations where a client has trouble getting a mortgage through traditional lenders – such as if they have a particularly bad credit history. If you don’t fall into that category (and if you’re unsure, ask!), then I can help you figure out your perfect mortgage and get it for you – all at no cost to you. If that sounds like a pretty good deal, I urge you to give me a call at 604-892-4647 and get the conversation started.
(Just remember, though, that come January 1st mortgage regulations will be tightening significantly – so if you do call me, please try to do so quickly!)
Michele Ellis – Senior Mortgage Broker, The Mortgage Studio