G.R. Gauthier Financial Services Inc.
Phone (613) 745-4567 Mortgage Brokerage License #10650
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GRG Financial Services Inc.
680 Montreal Rd, 2nd Floor
Ottawa, ON K1K 0T3

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G.R. Gauthier Financial Services Inc.

Why use a Mortgage Broker?

Make a Mortgage Broker Part of your Financial Plan

For most Canadians, buying a home is the largest financial decision they will make in their lifetime. Yet, consumers across the country are more likely to painstakingly review dozens of investment possibilities for their portfolios than to scrutinize their mortgage choices.

The mortgage world – like the investment world – can sometimes be confusing. There is a vast array of choices – open, closed, fixed, floating, long or short amortization, prepayment options, portability… and of course, the rate itself. Making the right mortgage decision can have a huge financial impact over the long term.

Many Canadians have an investment advisor to help them sort through their choices. Now, Canadians are also beginning to turn to Mortgage Associates to help them make better mortgage decisions. Canadians are just now catching up with their counterparts south of the border, where Mortgage Associates already arrange approximately 70 per cent of mortgages for U.S. properties.

So what is a Mortgage Broker?

The role of a Mortgage Broker is to understand your mortgage needs, seek out the best options for your situation, and guide you through the lending process. A Mortgage Broker does not work for any individual institution or lender, but is independent, and has up-to-the-minute loan rates for a wide array of banks and other lending institutions.

There was a time when the banks exercised the view that they “owned” their customers, and Mortgage Broker's were perceived only as a last resort for home buyers with poor credit history. But times have changed, and homebuyers in every bracket are learning they can benefit from the professional advice of a Mortgage Broker.

Many Canadians are realizing that taking time off work to make an appointment to meet with their banker is not always possible OR desirable. The old days of bankers have "personal" relationships with their clients, are over.  Chances are, the person that you met with to open your bank account, no longer even works at that branch OR bank.  Your mortgage broker will be with you for the life of your mortgage needs. 

Our goal is to advise you from the beginning of your Mortgage, through until the day you are Mortgage Free.

A good investment advisor can make you thousands of dollars. But a good Mortgage Broker will SAVE you thousands of dollars. Whether you are buying a home or renewing a mortgage, consider making a Mortgage Broker part of your financial plan this year.

Refinancing and Equity Take Out Mortgages

 
There are many different reasons why you may want to refinance, or increase your existing mortgage:
  • To consolidate non-mortgage debt
  • To pay for your child's University tuition
  • To make improvements on your home
  • To pay for that dream vacation you've always wanted to go on
  • To purchase other property for investments
  • To purchase a second home or assist your child with a down payment on their first home
  • The list is endless...
There are many things to consider when considering a refinance:

 

Consolidating your Debt

  • Most credit card debt is at an interest rate that is much higher than your mortgage rate
  • Calculate the total minimum monthly payment of all your debt
  • Use a mortgage calculator see how much your monthly mortgage payment will go up if you increase your mortgage by the amount you need to get completely OUT of debt, make sure you use today's current interest rates to calculate (see rate chart)
  • Most likely the new mortgage payment is going to be significantly lower than that what your minimum monthly debt payment is
  • Time to call me to discuss your refinance!

Investing

Many people are taking advantage of the equity in their primary residence and using it as a down payment on a rental property. Utilizing your home in a HELOC (home equity line of credit) allows you to actually write off all of your interest by investing it back into real estate. Use the equity in your home to use for investing in the stock market, long term investments.

Since mortgage rates are lower than they have been in 50 years, this makes the equity in consumers homes that much more desirable. Investors have more options and lenders and insurers are making the money available now via more products than ever before. All the new products available to Canadian consumers also can lead to more confusion.

Where do you want to be in 5 years?
 
What do you see that money from your home doing for you?

Do you plan on buying a rental property (or two) or do you see growing your business?
As you can see, there are many things to consider. You obviously want to make that money grow, and make it work for you and your long-term goals. Part of tapping into your home equity involves a plan, and your desired timelines for being mortgage free. Most of us eventually would like to be mortgage free, and our long-term goals always include that place, as a final destination.

 
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