With having so many lender options to offer my clients, I'm sometimes asked if I have a favourite lender I like to work with! That's an easy answer - no favourites here! They're all great in their own way. It really depends on the needs of the clients and I pride myself on getting to know my clients and their long-term goals for their biggest investment so I can make the most appropriate mortgage recommendation! I enter into each client appointment with a blank slate and my client fills my canvas.
Some of the needs I uncover are:
- How long do you plan on living there?
- What life events do you anticipate in the next 1-5 years?
- How will your income change during the term of your mortgage?
- How important is cash flow and what is your monthly mortgage budget?
- What type (ie. salary, temporary, self-employed) and how much income do you have?
- How much debt do you have?
- How much is the house you're considering?
The answers to those questions can help me determine where your mortgage is best suited for your immediate and long term needs. I routinely meet with lenders to ensure I'm up to date on their products and policies so I have the knowledge to make those recommendations.
There's no "One Size Fits All" mortgage. Some of the differences between lenders are:
- Acceptable sources of down payment
- Percentage of down payment
- Types of income that can be used for qualifying
- Amount of debt versus income used for qualifying
- Geographical lending area
- Past credit history
- Type of mortgage and/or property type
- And so much more!
With all of that to choose from, I couldn't possibly have a favourite. But my #1 is my client. Their needs are most important to me and my job then becomes finding the mortgage that meets those needs the best.
As always, looking forward to hearing from you! No question is too small :)
sarahnm@mortgagegroup.com
Toll-free Across Canada 1-844-315-6609