Thursday, 18 June 2015

The 3 Steps to Mortgage Rate Happiness


It’s safe to say most people want the best mortgage possible. While your mortgage broker works diligently on your behalf to secure the best rates and terms, some people simply want to shop around before making a decision. I say go for it! Not only that, but I will give you a 3-step plan to find out who has your best interest(*pun intended) at heart.


Step 1) Go to your bank


Yep that’s right, I said go see your bank and ask about their mortgage rates. Don’t tell them you’re using a Mortgage Broker; Just tell them you want to know their best rate on the mortgage term you’re searching for.


Step2) Call me, visit me, or email me


Bring the rate that your bank offers you and we’ll review it to see how it stacks up against other lenders. As a long-time, valued client do you feel that your bank offered you the best rate or took the time to really understand your needs? Not only will I beat their rate, but I will take the time to get to know you and understand which mortgage products will benefit you most. I may even be able to negotiate a better rate and mortgage with your existing bank if you prefer! 


Step 3) Sit back


And bask in the joy of having gotten the best rate going, and in the fact that you know I’m working hard to put your needs first. Can you say the same about your bank?

Some of the major banks I deal with will offer their existing clients(at the branch) a rate that is .5% or more higher than what they offer my clients. It’s disappointing that they treat people this way, but they are relying on you not shopping around. Think about the potential savings, that’s a difference of $4706.86 in interest on a $200,000 mortgage IN JUST 5 YEARS! Now multiply this amount by the number of years you will have your mortgage and you will save a significant amount of money. What are you enjoying with all the money you’re saving?

For the most up-to date Mortgage Information and rates, please visit our website at www.ryanWsmith.ca or follow us at:

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