7 Questions To Ask Your Mortgage Broker or Bank

In this video I discuss 7 questions to ask your mortgage broker or bank. This is especially important for first time home buyers in Canada. It will help you choose between bank vs broker.

The presenter has taken great care in preparing
this video, however makes no representations or warranties with
respect to the accuracy or completeness of its content. The contents
of this video should not be considered a substitute for
professional financial advice. Please consult a financial professional
before implementing any of the strategies described in
this video. The presenter shall not be held liable
for any loss of profit or any other financial damages, including
but not limited to special, consequential, incidental, or other
damages.

[abrahamkk]

1) What type of mortgage is best for my needs?
2) What mortgage features and options are best for my needs?
3) How can I minimize the total cost of mortgage?
4) What are my options if I cannot make a payment?
5) What are the penalties to break my mortgage and how are they calculated?
6) Are there any restrictions on this mortgage?
7) What fees are involved in setting up, discharging or renewing my mortgage? How are they calculated?

[bizibuzzi]

Thank you for all your help. I follow you as much as possible.

[namnguyen]

Hi, love your video !! Just a quick question: Do I ask these questions during the introductory call with the morgage broker?

[Feallh]

i think your voice is simply comforting enough to discuss tough topics, make the topic easier to digest

[lucafigueiredo]

I just discovered your channel and I love it as a Canadian. I got a question im looking to get into real estate investing and im wondering which mortgage providers are the best for investing. Maybe you could make a vid about financing your rental properties and how you could refinance your property for a down payment on another property. Also how you get qualified if the second property will cash flow? Thanks

[hithere]

Can you explain your exclusivity clause more detail? I looked at your website and it popped up. Seems like a big ask right off the bat.

[StinkPickle]

Vid on when to use HELOC? Rental properties?

[deadliftsquats]

Not a good time to minimize the cost of mortgage because money is so cheap. The interest rates are lower than inflation especially if one goes variable. Borrowers should go with the longest amortization and do monthly payments instead of biweekly.

[evelynmendoza]

Love your content!
what happens if I signed an agreement with a mortgage broker already and I realize their answers to these questions are not satisfactory? Can I go to a different broker? How can I make the agent change happen?

[ellacristinac]

Its kind of unfair to say you should run if someone can't answer any of these questions. They might be new and starting out and willing to quickly find an answer for you.

[StinkPickle]

8) Can you please pay mortgage for me?

[sahadanazary]

I just stopped searching for a house. I can't afford anything that makes senses with 45k/year net.

Hi Nolan. I’m hoping to get clarification on your 25k contest.
At 0:38 you say it’s $5000
At 12:54 you say it’s $25000
Might just be a slip of the tongue.