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I get excited when someone gets ‘advice’ from someone they know and then brings it to me as their trusted Mortgage Professional for my opinion.

Here are ‘advice’ examples from the last few months and how my inside voice responded!

“Trust me, you want the 5 year term. Rates are so low right now you need to lock in for a long term.”  This to someone planning to buy a home to renovate & sell within a year. Obviously they didn’t know you too well otherwise they wouldn’t have told you to put yourself in a position of a $12,000 penalty.

“Oh I’ve done this all before, you don’t need the broker just go direct to the bank.” Client visits the bank to get rate then calls me and I beat the rate. Clearly they had your best interest at heart and wanted you to pay $8,000 more over the term of the mortgage.

“Don’t use a broker, they aren’t properly educated and won’t be able to help you with the other things you’ll need advice on.” Client calls me to ask about my background, education etc. Tell them about my 16 years lending experience, Bachelor of Commerce Degree, Personal Financial Planner Designation, Broker License with required continuing education and a trusted team of professionals for areas I am not legally allowed to provide advice on. You decide.

“She is just trying to scam you. She doesn’t know you at all, why would you trust her?” This from someone they had known for 6 months.  I’ve known the client for over 12 years and have done multiple real estate transactions for them.

“She knows nothing about our mortgage product, why would you work with her as opposed to coming to the Branch?” Oh cause I’ve only sold that very same mortgage product for 15+ years and was actually the Branch Manager at one of your Branches.

You get the idea. It sounds cheeky I know but let’s be honest your internal voice would be saying the same.  So I say do both, get your ‘advice’ and bring it to your mortgage professional to discuss.  The home buying process can be a highly stressful time and making it harder by not getting professional advice and making a mistake can be devastating.

Send me your most recent ‘advice’ for a second opinion!