Plain answers to the questions people ask me most.

For most people, nothing out of pocket. My philosophy has always been, and always will be, to have the lender pay for my services. In about 99% of the mortgages I arrange, the lender is the one that pays me, not you.

Certain mortgages do require a fee. When that happens, you'll know in advance. Before a single dollar is owed, we'll have talked about it, you'll know exactly what it costs, and you'll have signed off on it. No surprises.

Brokers are paid by the lender, based on the size of the mortgage. In BC, you can see exactly how it works. During your mortgage you'll receive a written disclosure showing how much I'm being paid and how much my brokerage is being paid. You'll also see a disclosure of any lender I place more than 20% of my business with. Alberta has its own disclosure rules, and I'll walk you through them.

So feel free to ask me why I chose your lender. It's a completely reasonable question, and I'm happy to answer it.

Does the pay steer my recommendation? In my experience, no. Lenders use different models. Some offer brokers a less competitive rate with higher pay, and when I use them, I put some of that pay toward buying the rate down so it's competitive. It tends to level out. Personally, I lean toward lenders that simply pay fairly and offer a great rate.

A broker earns their keep when your situation isn't simple. Maybe your income or business structure is complicated, and your bank limits what you can borrow or doesn't understand how you earn. Maybe you have a goal a basic fixed or variable mortgage won't reach, like borrowing more, paying it off faster, or setting up a home equity line of credit for an investing strategy such as the Smith Manoeuvre. Or maybe you know the right product exists but don't know where to find it. That's what I'm here for.

If your situation is simple, here's my honest advice: go to your bank first. Ask for their best rate and best offer. Then bring it to me and ask, “Is this good?” I'll ask a few questions and tell you yes or no. Brokers don't get a salary or an hourly wage; we're paid only when a mortgage closes. So if I can't do better than your bank's offer, I'll tell you, and save us both time.

Yes, I do pull your credit report. Whether it affects your score depends mostly on how many credit inquiries you've had in the last six months.

Shopping through me usually won't hurt your score, because when I send your file to lenders, they typically use my credit report instead of pulling their own. That's why I need a report from within the last 30 days.

Buying: start planning with me about six months ahead. The whole process, from mortgage planning to finding a home, removing subjects and closing, usually takes four to six months.

Renewing: start a year ahead. With a broker, you can have your cake and eat it too. Many lenders will hold a rate for 90 to 120 days, and I watch it. If rates go down, I ask the lender to float your hold down. If rates go up, we run the numbers to see whether locking in now saves you money. If not, we renew the hold. We can do that two or three times to time your renewal well.

Mostly, I listen. I want to understand what you want to achieve: whether, and how, you want to be mortgage-free, how you think about investing for retirement, and what your family's long-term plans look like, not just your mortgage.

Then I can tell you whether I can add value as your broker. I'm at my best when I'm adding value. Sometimes I tell people, “You don't really need me.” I'm still happy to give advice and information, which are always free, but you've got it handled.

For the first meeting, nothing. It's a 15-minute conversation to see whether we want to work together. In BC, I'll give you a form that explains that I work for you. In Alberta, a similar form explains who I'm working for and how.

Usually within a day of that conversation, I'll send you a document list built for your situation, by email, text or whatever you prefer. Everything goes into an online portal with a checklist you can work through. I don't pull your credit until after that first conversation.

When I do a pre-approval, I send your documents to a lender, the lender reviews them, and we make sure your income, credit and other details are approved. The one thing that isn't approved is the property, because you haven't chosen it yet.

So no, it isn't a guarantee. Most properties are approved, but sometimes a lender doesn't like a particular property. And if your finances change significantly during the 90 to 120 days the pre-approval lasts, such as a new job, a new loan or a big purchase, that can affect it too. Talk to me before you make any big changes.

There's no single number. It's personal. Think of driving up a mountain road. The lender's rules are the guardrails, and you have to stay inside them. But where you feel comfortable driving on that road is up to you. That's how much you can really afford.

Sometimes the bank's number is higher than what fits your life. Sometimes it's lower than what you can really carry. If you're self-employed, you can write off things employees can't, like vehicle expenses, business use of your home and utilities. Some lenders let me add some of that back into your income, because that money really exists. Some lenders also treat rental income differently than your bank might.

I may still be able to help. And if I can't, I'll tell you why and what you can do about it, so you can take steps toward the future you want. Sometimes that's a plan for a year from now, and that can be the right plan.

Yes. Even before 2021, I could see things moving toward phone and video meetings. Today most of my clients, even in Victoria, prefer to do everything by phone or online. I can help you anywhere in the provinces where I'm licensed, which are currently British Columbia and Alberta.

Yes, you'll hear from me. I bring a lot to getting your mortgage done, but my value really kicks in afterwards, through my concierge service and tools. You'll have direct access to me by phone, and your own homeowner report through Ownwell, where you can ask me questions directly and work through your options.

Through your term, I'll help you keep on top of things like property taxes, and in BC I'll remind you to claim your Home Owner Grant. The lender paid me to help you, so use me for the whole life of your mortgage.