Mortgage Brokers and My Mother....

When I started this blog, my intention was to create a place where friends, family, clients, etc. can go to get educational information regarding the world of mortgages along with my opinion thrown in a few spots. It is a blog after all. Never did I think I’d be mentioning my mother in a post, let alone in the title.

For those of you who don’t know my mother, she is a very conservative, very old-school...make that very, very old-school Scottish woman. To give you an idea, this is a woman who when she retired three years ago, swore to never touch a computer again because she doesn’t see the need for one. Now, even my Father-in-Law who refers to the computer as “the machine” sees its benefits even though he gets his wife to do all the dirty work for him. This is also a woman who said to me not too long ago, “they’re just getting so ridiculous with all these child-seat laws for cars”. Although she may reluctantly agree that sitting kids on your lap in the front seat the way she used to do it may not be the best way, surely they can just sit in the back seat with their seatbelts on.

You may be wondering where I’m going with this. I’m getting there. I’ve found when I explain my role as a Mortgage Broker to people of my mother’s generation, their response is varied but usually wrought with confusion. “That’s what the bank does”. Well, not really, the bank only has access to their own products with rates you need to negotiate whereas I have access to the products of over 60 lenders with discounted rates below what banks are willing to offer. “You deal with people that can’t get financing from a bank”. No, in fact most of the clients I deal with have stellar credit histories and could easily get financing from a bank. “How much do you charge people”? Nothing, my services are free to my clients. Some people I’ve spoken to look at me like they don’t understand that such a role exists. Reality is Canadians are very traditional when it comes to their banking and our approach just gets passed down from generation to generation. People of my mother’s generation were of the opinion that you go to the bank with your money and when you need money. This is evident in my mother taking me to the bank when I was six years old to open my first bank account and that ended my guidance on personal finances...you go to the bank. Things are different now and consumers have options. “Go to the bank” doesn’t need to be the way anymore. Over the last number of years Canadians have started to see they have more options than the bank as is evident by the growing number of people using Mortgage Professionals such as myself.

This past weekend I made a breakthrough that just about floored me. Every time I see my mom she asks me how things are going, still not fully understanding what it is I do. With each conversation she seems to get it a little bit more. So, while we were chatting she said, “why doesn’t everybody use a mortgage broker, it seems like such a better option than just going to the bank”. Answer...I don’t know. She might be a little biased right now but the point is, if someone as traditional in their thinking as my mother can have such a ground-breaking revelation, then there is growing hope that more Canadians can see the light too and start saving themselves time and money.

Here is a list of excellent reasons of why consumers could benefit from using a Mortgage Broker:

My services are free as the lender pays me a finder’s fee.

Access to interest rates that banks don’t tell you are available saving you thousands of $$$$. Since Dominion Lending Centres sends lenders millions of dollars of new business each month, they always offer us the deepest discounts, which I pass that on to you IMMEDIATELY - whether you are purchasing, refinancing or renewing.

I shop the market saving you time Calling me is like calling over 50 different lenders, including Banks, Credit Unions and Trust Companies – I have access to all of them so I can find you the best deal possible.

I don’t work for any one lender, I work for you!

Isn’t it time the Banks compete for your mortgage business? I’ll provide you with some options so you can compare the two – what your bank is offering you and what I am able to offer you, then ultimately you decide which you feel most comfortable with. It never hurts to get a second opinion on the biggest financial obligation you will probably ever have.

Our application process is simple and quick I’ll take some information and then send it electronically to the lenders that I feel are the best fit for your situation; 24 hr turnaround is usual!

Step By Step I’ll walk you thru the process of getting a mortgage step by step, especially if you are a first time homebuyer – it can be daunting.

I’m available on your terms Day, evening and weekends...and I’ll come to you.

Large range of products Such as self-employed, credit-challenged, no down payment, cottage/investment properties, line of credit, 2nd mortgages and more.

I appreciate your business I will go the extra mile to provide outstanding customer service so you have the best possible financing experience!

I am a Licensed Expert Deal with a mortgage expert specializing in mortgages from all lenders not just one.

Follow Up including Annual Mortgage Check-Ups and Variable Rate Updates. I’ll make sure your mortgage continues to meet your financial goals.


Peter