Skip to main content

The rate vs compensation chat: link..MCAP Chops 1- and 2-year Comp

So this link below is interesting, as well as the 1st comment. However as my clients know I do put them first, and not just stating it as a "...walk on water" comment; I did however love the quotes in the comment section. Back to the point... which is why I would be asking "why they want or prefer a short term mortgage" to see if it is just rate based or if they truly need the rate/mortgage for short term. The RMG Mortgages 2.59% for the 2 year is awesome for short term buyers, with full pre payment options, portability, quick turn around - client is still #1. AND with rates going to go on the rise (as that is what history shows) client takes advantage of the bit longer rate if their "short" term goes a bit longer than expected. Which most times is the case.
MCAP however has an A1 10 year program as well! with full options on it as well, for those that want AAA rates and want the security longer.
Really at the end of the day, a good Mortgage Broker/Agent will ask the right questions to find out what mortgage product is the BEST for the client and advise and educate accordingly. For myself, the way I make my income (and everyone wants/needs to make a living) is on the referrals I get from all my happy clients for a job well done.

Happy Friday Everyone!

Here is the LINK:

MCAP Chops 1- and 2-year Comp



                                  "Everyone working together"

Popular posts from this blog

Divorce, Separation & Mortgages in Canada: What Happens to the House?

Separation and divorce can feel overwhelming. Questions start piling up fast: Who keeps the house? Can I qualify for the mortgage on my own? How does a spousal buyout work? What happens to our joint debt? Can child support or spousal support count as income? What if I’m the one paying support? What if I don’t currently have a job? What if we don’t have 20% equity in the home?  When emotions are high, housing uncertainty can become one of the most stressful parts of the process. The good news? There are mortgage solutions available in Canada specifically designed for separation and divorce situations — and most people do not even know they exist. As a licensed mortgage broker, this is something I help clients through every single week. The mortgage side of separation does not have to be the hardest part. The Biggest Question: “Can I Keep the House?” In many cases, yes — it may be possible. Canada’s mortgage insurers, including Canada Guaranty , CMHC , and Sagen , offe...
Read more

New and Improved Website Coming Soon... and some updates! :)

I am so happy to announce that I will be having a new website I am designing! What a learning curve I can tell you - I had someone plug in the theme to use and help with some charts and pictures but I am happy to say I have been the one to put it mostly together! I think however I will stick to Mortgage Building vs Web Building! lol, I am way better at the former than the latter that is true. Speaking of mortgages, as you already know the Bank of Canada has already left the overnight rate as is... so what does that mean for you? The lenders are still offering stable rates with nothing really going up to high or down to low... rates have been pretty consistant. The thing that has not remained steady are mortgage products. Most lenders have now all followed suit in regards to using a 3% payment caculation on all unsecured lines of credit and credit cards vs using the provable payment. This makes things I find tight for First Time Buyers when looking at what they qualify for. For exampl...
Read more

Are You Paired With the RIGHT Mortgage Product & Rate? Did you even think to ask?

That seems to be a question that not a lot of people ask. "Am I in the right mortgage product & rate?" Everyone is so caught up in getting the lowest rate possible, that it is a race to the bottom instead of stopping and looking at the full picture. According to a survey done by CIBC and posted with The Toronto Star , Canadians do not think they will mortgage free till 57! Now is this due to people getting mortgages later in life; due to purchase price and down payments?? ... yes I believe partially this is the case. However I think the bigger problem is no long term thinking is being done. With the boom in 2007, it was the big push to "refinance your life" into your mortgage; so cars, boats, quads, credit cards, etc all build into your mortgage to give you a lower over all payment.... but does this help reduce mortgage debt? There were also those 40 year amortizations and mortgaging over 100% of your homes value. None of these things help anyone to pay o...
Read more