I have read hundreds of websites all promising the same thing:
- Best mortgage rates
- Best mortgage products
- Best customer service
- Best value
- and this list goes on and on!
I have seen rates that are not being offered anymore, and rates being advertised that are not available to most purchasers for many reasons. Rates that when I called in, I was baited and switched and said I did not qualify even before asking all the right questions. I am not here to call people out, just saying choose wisely.
Yes, you want want the best mortgage rate, you want the best mortgage product, you want great customer service, and you want all the value that is out there. How can everyone have this? The simple truth is, they don't. How can everyone be the best?
- You have to like the person you are dealing with.
- You have to believe and trust they have your best interests at heart.
- You have to know that its not just about rate, its about privilege.
- You have to know that if you get a no frill mortgage the rate will be lower, but you could be shooting yourself in the foot if anything changes.
I don't sell rates, I sell a relationship. I sell a partnership whereby I am on your team, and in being on that team I will find you the best that is out there.
Do I have any credibility?
My name is Michael Sean Richmond and I have been in the financial
industry for over 15 years. I have always taken a holistic approach to any client’s needs, with a focus on saving them as much money as possible. I use this consultative process, as it is never about pushing products or plans, rather helping you find the
best possible solutions and seeing if there is a better way to reach your goals.
I always had a strong focus on financial fitness, creating
financial workshops and volunteering my time to educate those on
budgeting & risk management.
Currently I work as an independent mortgage broker with access to over 50 lenders. Which means I work for you not the financial institution. Of course I am dedicated to great customer service, and I will help you get the very best product and rate out there. I will also be there to figure out which features you should look at given your unique scenario.
I know that now all Bankers, lenders, or Brokers are not the same.
In my years at the bank, I still easily recall training lenders who no matter how you explained it, could not grasp some of the simple concepts. Then there were the ones I trained who were like a sponge, and absorbed everything I threw at them regardless of the pace. Anybody I trained in the bank like this though moved on and my favorite one is now a Vice Presidents in massive company.
I still see evidence of bad bankers all the time when I review the liabilities of a client. When I see credit scores of 734 and an interest rate that is indicative of a high risk lender I shake my head and wonder. Selling is helping is not always the case when the interest rate is not competitive. I think this is partly caused by the promotion mentality. The lender wants get enough experience to be rounded out enough to become a Branch Manager, or Regional Manager where the pay is more rewarding. The promotion mentality which has high turn over in these roles is counter productive to keeping a client for life and building that relationship. When I go to the branch where I do my banking, I have seen a new person in that role at least twice a year. Where did they go? Why did they leave me and give me this separation anxiety?
As a Calgary Mortgage Broker I am not aspiring to become a Branch Manager, nor looking for career progression. I know the more clients I make happy, the greater my chances of creating super-fans are. These super-fans will wear my colours and scream and shout to tell other people about the most excellent customer service ever, all while sporting my face on the back of their cape. They know I will not be leaving, rather creating repeat business by being there for them for years to come. Its all part of my value.
Don't get me wrong I am sure there are bad brokers as well. Bad customer service maybe, or a bad attitude. I have met many part time mortgage planners that have other full time jobs. Do these people have the time to stay up to speed, and be masters at what they are doing? We are talking about peoples money here after all.
The team I work with have all been in the industry for well in excess of 10 years and do this full time. Which means that if I need a sounding board, or help with anything I know my team has my back.
The simple fact is we all have different views, different objectives, different ways of dealing with clients. Every client has a certain way they want to be treated. Some like a no nonsense approach, while some love to have a laugh along the way, which I am told I am more than capable of providing should the need arise.
Adapting to my clients needs is one of the fun aspects of my job, and is second only to the smile caused by a closed deal and seeing the clients eyes light up when they know they about to get their keys to their new home.
One of the biggest things is compensation. How am I paid?
The bank payed me a salary, and used to pay me extra to push products, push a bank account, push a MasterCard and a line of credit. Offer a small rate discount if they also signed up for a chequing account.
Now I don't get paid by anyone to sit at my desk. I have no hours to log, or payroll to fill out. I get paid to broker your needs with the perfect match out there. I don't push credit, accounts, or insurance. I get paid a finders fee by the banks. This is how I support my family.
So you know I have been in the bank, and lived that life for many years. You may still be wondering why did I move, and why use me? Here you are then. Read on!
In my years at the bank, I still easily recall training lenders who no matter how you explained it, could not grasp some of the simple concepts. Then there were the ones I trained who were like a sponge, and absorbed everything I threw at them regardless of the pace. Anybody I trained in the bank like this though moved on and my favorite one is now a Vice Presidents in massive company.
I still see evidence of bad bankers all the time when I review the liabilities of a client. When I see credit scores of 734 and an interest rate that is indicative of a high risk lender I shake my head and wonder. Selling is helping is not always the case when the interest rate is not competitive. I think this is partly caused by the promotion mentality. The lender wants get enough experience to be rounded out enough to become a Branch Manager, or Regional Manager where the pay is more rewarding. The promotion mentality which has high turn over in these roles is counter productive to keeping a client for life and building that relationship. When I go to the branch where I do my banking, I have seen a new person in that role at least twice a year. Where did they go? Why did they leave me and give me this separation anxiety?
As a Calgary Mortgage Broker I am not aspiring to become a Branch Manager, nor looking for career progression. I know the more clients I make happy, the greater my chances of creating super-fans are. These super-fans will wear my colours and scream and shout to tell other people about the most excellent customer service ever, all while sporting my face on the back of their cape. They know I will not be leaving, rather creating repeat business by being there for them for years to come. Its all part of my value.
Don't get me wrong I am sure there are bad brokers as well. Bad customer service maybe, or a bad attitude. I have met many part time mortgage planners that have other full time jobs. Do these people have the time to stay up to speed, and be masters at what they are doing? We are talking about peoples money here after all.
The simple fact is we all have different views, different objectives, different ways of dealing with clients. Every client has a certain way they want to be treated. Some like a no nonsense approach, while some love to have a laugh along the way, which I am told I am more than capable of providing should the need arise.
Adapting to my clients needs is one of the fun aspects of my job, and is second only to the smile caused by a closed deal and seeing the clients eyes light up when they know they about to get their keys to their new home.
So you know I have been in the bank, and lived that life for many years. You may still be wondering why did I move, and why use me? Here you are then. Read on!
Why use a Calgary Mortgage Broker?
Use a Calgary Mortgage Broker because...
Mortgage Brokers are independent, trained
professionals licensed to represent and provide you with the best advice
for your mortgage needs. Mortgage Brokers primary expertise is locating
funding for mortgage financing. They know where the best rates can be
found. What's more, they have the knowledge required to present a
proposal for financing to lenders in the best way possible to
successfully obtain mortgage financing.
So why deal with a Alberta Mortgage Broker?
Alberta Mortgage Brokers represent you, the
customer, not the lender. Because they are not employees of a lending
institution, Brokers are not limited in the product they can offer you.
Brokers seek out the best lender package to suit your specific
situation, whether it’s with a Chartered Bank, Trust or Insurance
Company, or Private Funds. There is a wide assortment of options and
features available to home buyers today. Shopping around takes a lot of
time and effort. The mortgage process within today's very competitive
marketplace intimidates many Canadian home buyers. It pays to work with a
mortgage professional who will represent you and ensure the mortgage
you get is the one best suited to your needs. Choosing the wrong
mortgage can cost you thousands of extra dollars. Mortgage Brokers are
trained professionals who can help you save on your mortgage dollar.
Reasons to use an Alberta Mortgage Broker
- Access to different lenders, banks, trust companies, investors and financial institutions.
- Fast credit and loan pre-approvals with no cost or obligation. (Some conditions may apply)
- They are experts at matching you with the best-suited mortgage.
- Get mortgage rates at wholesale, guaranteed up to 120 days.
- They work for YOU, not the bank.
- Up-to-date on all the mortgage rates, terms and re-payment options available on the market.
- They only specialize in mortgages and are knowledgeable on current trends.
- They increase competition in the market place, thus keeping rates low.
- They save you time and money!
- Brokers have vested interest in satisfying your needs since they rely on referrals and repeat business.
Other than rates, why should I use a Calgary Mortgage Broker?
In addition to rates, because mortgage-based
financing is the broker's primary business, he or she has developed
expertise in what type of mortgage financing each lender prefers to
pursue. This kind of knowledge not only results in the most favorable
rates for each project, but often whether a project is funded at all.
How do Calgary Mortgage Brokers Find Superior Rates?
Interest rates are a concern to borrowers.
Because of their daily contact with lenders, brokers know which project
or home attracts a favorable interest rate from one institution, but a
higher rate at another. Some institutions, in fact, will only accept
mortgage submissions from mortgage brokers. These rates, and preferences
for types of mortgages, can change daily, depending on economic
circumstances or based on the size of an institution's portfolio in a
particular type of mortgage. Your Mortgage Broker keeps current and
knows which lender to approach first. As a result, mortgage rates
obtained by Brokers are among the best available at the time of
placement.
Why should I go to a Calgary Mortgage Broker first?
A professional presentation to a lender on the
first application will get the best response and save you valuable time
and money. Secondary applications with previous credit bureau inquiries
may be more costly. Often the success of obtaining mortgage approval
depends on the way a proposal is presented and to whom it is sent. Your
Mortgage Broker is trained to present your mortgage proposal where and
how it will get the most immediate, positive result. You don't call an
insurance company for insurance - you use an insurance broker, because
of their expertise, product knowledge and rates. So remember, call your
mortgage broker first!
How do Calgary Mortgage Brokers get better deals than many Banks?
The lenders who work with
Calgary mortgage brokers include traditional sources, such as chartered
banks, trust companies, as well as corporate and private pension funds.
In addition to these sources, brokers often develop professional
relationships with private sources of funds, termed private lenders.
These lenders can provide many various mortgage products not available
at conventional sources.
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