29 Aug

How to Find a Good HRM Mortgage Broker


Posted by: Bob Goudey

Are you looking to find a good HRM Mortgage Broker who you can trust?

When it comes to something as significant as your mortgage, it is important that you align yourself with a qualified person who can help you understand the process from start to finish. As a HRM Mortgage Broker, that is exactly what I do!

It is no secret that mortgages can be complex, and this is even truer for those who are embarking on the mortgage journey for their very first time. If you decide to work with a broker, there are some things that you should keep an eye out for when choosing who to trust with your mortgage.

In this blog post, we are going to identify a few things that you should watch for when it is time to select a mortgage broker in HRM.

Check recommendations/testimonials

If a mortgage broker is good at their job, you will likely be referred to them by friends, family and your real estate agent. Once you hear about someone or find a broker who you think might be good, go to their website and look around. Do they offer what you need? Do they have positive testimonials? You can always check the reputation of a broker by visiting their Yelp page or their Google Business page to find reviews from past clients.

Talk with them first

Once you have found a broker who fits the bill after passing the testimonials test, take some time to speak with them. A good broker with speak with you about your current financial situation and goals, what type of mortgage you are interested in, how they can work with you to get approved for a loan and offer tons more. Take the time to ask them what they will do for you and why you should pick them over another broker.

Secondary research

If the broker in question has passed the first two steps, go back and do some additional research on them. This can be by looking through their profile on their website, visiting their LinkedIn page or even their Facebook page. Is this person involved in the community? Do they seem to have a positive reputation? You can also do some of this in your initial search however it is always good to double-check.

By following these three steps, you will be well on your way to finding a good HRM Mortgage Broker who both cares about your situation and can get you a mortgage that is right for you personally.

For more information on how I can help you achieve your mortgage goals, get in touch with me today!

18 Jul

When Should You Refinance Your HRM Mortgage?


Posted by: Bob Goudey

Aside from home purchases, refinancing is one of the most common activities in the mortgage industry. As an experienced HRM mortgage broker, I have completed several refinances to help hundreds of clients.

However, not every person that I have helped came to me knowing exactly what a refinance was or how it could benefit them. The trick with refinances is that it must be done at the right time for it to benefit you. While there are many factors to consider, here are a few that will help get you started when it comes to a decision on refinancing your mortgage.

1. Interest rates are low

You have been keeping an eye on interest rates and now they are at a low level. This is the most common reason why clients choose to refinance their mortgage as it can save them a good amount of money in the long run. However, depending on the type of rate you currently have (fixed or variable), you may have to pay a penalty. Speak with a mortgage broker to know exactly what you are getting into and the potential benefits and repercussions.

2. Pay off debt

If you own a home and have a fair amount of equity in it, refinancing a mortgage can provide you with additional money to help pay off existing debt. For example, if you took out a loan to buy a new car or are currently paying off school tuition, you could have the opportunity to pay off the debt by refinancing.

3. Lower term length

Another popular reason that clients refinance their mortgage is to bring down the term of their mortgage. For example, we look at two mortgage terms: 30 years and 15 years. If interest rates are low enough, switching from a 30-year term to a 15-year term may cost you just as much or a mere amount higher. The benefit is that you would shed 15 years from your term without putting yourself in a financial hole.

However, before committing to a refinance it is important to speak with a qualified HRM mortgage professional, such as myself, in order to ensure that you are making a well-educated and informed decision.

Seeing low interest rates is nice and can be attractive to people looking to save money on their mortgage, but there are many factors that come into play when it comes to a refinance.

For more information on how I can help you achieve happiness with your mortgage, talk with me today!