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20 Feb

What do you look for when shopping for a mortgage? There Is More To Your Mortgage Than Just The Rate

Abbotsford Mortgage

Publié par: Matt Robinson

Most people come to me while they are in the process of shopping around for the lowest rate on their mortgage.

Looking for the lowest rate is what everyone is taught to do.

Rarely do people know that the mortgage rate is only ONE of the factors to consider when shopping for a mortgage. And if they are not shopping around it is because they “trust” the bank they deal with – but should they?

Life is busy, and shopping for a mortgage can be a daunting task.

 

What Is Our Job?

I work for you. My job is to dive in to find out your financial goals and then match those goals with the best lender for your situation.

As an Accredited Mortgage Professional, I keep up to date and educated on the most recent information such as;

  • The lenders that are best suited for debt consolidations, renovations, and construction financing in local areas such as Abbotsford, Chilliwack, Mission and Langley, BC.
  • The lenders that support self-employed borrowers, commissioned and contract borrowers, and new Canadians.
  • The lenders that treat their clients fairly, with reasonable management costs, the lowest penalties and the best renewal policies.
  • And of course, I automatically scan mortgage rates across all Canadian lenders and bring you the best options right out of the gate. 

When shopping for the best mortgage, most Canadians stop too soon, and they only compare the rate and miss many more valuable comparables such as:

  • Mortgage Penalties, specifically IRD penalties.
  • Renewal Policies, specifically what rate discount will be offered (if any) at renewal.
  • What term should you be selecting, 2 Year, 4 Year, or 5 Year Mortgage?
  • Should you be considering a variable rate or a fixed rate?

The biggest savings is often found where people don’t look, in the fine print.

The fine print in a mortgage is hard to understand, to begin with, not to mention trying to compare one bank’s fine print to another.

I can prove that there is anywhere from $35,000.00 – $50,000.00 or more in fees and higher interest costs over 10 years of your mortgage, separating the worst lenders from the best lenders.

This is my value, and this is what I can bring to the table.

The advice that you need to avoid huge penalties and fees, the simplicity of selecting the right lender for your situation with the lowest rate all while saving you loads of time trying to learn all this on your own.

How Do I Make Money?

I find the right lenders and show you your options, and you get to choose from there.

The lender that you pick then pays me for helping to put it all together.

You see, I save them time and money as well, and in return for that savings, they pay me for my services, so you don’t have to.

Most of the lenders pay the same or are so close; there is little to no financial advantage to me recommending one lender over another.

All of This Is To Say:

You get the advice you deserve, the bank saves time and pays me for my services.

This is a win, win, win for everyone involved.

My experience with matching clients with lenders has given me a vast pool of expertise. Practice makes perfect  – and I am a professional when it comes to selecting the ideal mortgage for you.

If you have any mortgage related questions, reach out to me today, and I can answer them for you!