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AGENT LICENSE ID
504822
Ross Hooker

Ross Hooker



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106 - 2626 Croydon Drive, Surrey, British Columbia

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Finding the right home for you or your family is paramount. And as we have all heard so many times, it's one of the largest investments that we will ever make and there are many things that will factor into your decision making as you conduct your search. Price versus affordability, the right neighbourhood, the right sized home, proximity to work, schools, amenities, family, friends and more? With that much to consider along with the added for financing that fits, the overall purchase journey can be emotional and stress levels can be understandably high. Trust me, I've been there personally, more than once.

So, with such an important investment and so many financing options, why do so many seem to take the path of least resistance when it comes to financing their real estate? Why do so many default to what seems to be their comfort zone, explore only a single lender or financing option, and then pay so little attention to the important details not only in the initial stages but throughout the life of the mortgage? It's unfortunate, and unnecessary.

Well, you're in the right place! The fact that you've made it this far and are exploring my website suggests that you are not only interested in, but you are also aware of the many considerations with such an important investment beyond just "the rate". Options and flexibility are so often overlooked but they are incredibly important things to consider as you strategize ways to minimize your costs and pay off your mortgage as quickly and as comfortably as you can.

The goal of my business is to be a trusted advisor helping you make educated decisions with regard to your mortgage and your unique situation. And yes, you may find it surprising but very few are exactly alike. I'm licensed and obligated to give you unbiased advice with access to as many as 40 lenders and partner with you on the finance journey which truly requires so more of your attention beyond the initial purchase. Fixed or variable? Interest rates rising or falling? Mortgage renewal? Renovating? Equity take out options? Promotion? Employment bonus? Job loss? Suddenly acquire a large sum of money or enjoying a transfer of family wealth? Selling before the end of your term? The list goes on with respect to all of these all too common real life mortgage situations and you really should have someone you can partner with and trust for advice and ultimately solutions.

And the best part? All of this comes at no cost to you.

Please feel free to contact me anytime, I very much enjoy what I do and I'd be happy to explain how I can assist you in coming up with your plan.

 


BLOG / NEWS Updates

Be the Better Borrower - Reverse Mortgages. Let's be Clear!

Reverse Mortgage. There, I said it. Almost feels like theres an elephant in the room now, doesnt it? In my opinion, no other mortgage product seems to garner more negative feedback, or has a greater negative stigma, than that of a Reverse Mortgage. Bring it up with friends or family and its often met with oh, those are bad or cant you lose your home with one of those? Just Googling the term Reverse Mortgage can yield a list of peoples previous negative searches indicating the general dislike or misunderstanding of what I believe to be a very good product in the right situation. In fact, just now I typed Reverse Mortgage into my Google search bar and Reverse Mortgage Horror Stories comes up in the list of options Im given to complete my search! Its too bad really, but perhaps understandable as there likely were a few horror stories that the media chose to sensationalize in the early days of reverse mortgages which made it easy to conclude that these types of mortgages perhaps were indeed and forever bad. However, fast forward to today and we now have a product that has evolved, especially in Canada, with protective features and safeguards that many of us conservative and polite Canadians might expect! While its clear of course that reverse mortgages are not for everyone, what cant be overlooked is that there is a very real and growing segment of the population today that is retired (or about to retire), that is on a fixed income, and that perhaps has not managed to save enough for retirement or have some sort of pension plan in place. And these good folks, while perhaps not the best of prepared for retirement, like many boomers they are potentially healthier and more active than previous generations, they would prefer to age in their current home, and they could benefit from tax free access to the equity in that home. Reverse mortgages are on the rise in Canada and in my opinion, this is a clear indication of the need for the product as well as its market relevance. In the UK, the product is called an Equity Release Mortgage (a term I personally prefer to that of Reverse Mortgage) and there they have a penetration rate of 5:1 compared to Canada (on per capita basis), which is a further indication of the strong relevance of this product in another arguably sophisticated market. If you, or someone that you know, would like to explore the options with respect to a Reverse Mortgage, Id be happy to help. And full disclaimer, I dont treat this product lightly and as something to necessarily rush into. I believe in exploring all options and likely even engaging a financial adviser to ensure it is the best plan/option for my clients.

Be The Better Borrower - Five Sound Reasons to use a Mortgage Broker

I couldnt help myself. Almost daily, I find myself in conversations where I need to let people know the benefits of working with a Mortgage Broker. As there many reasons in my opinion, to keep it tight, here are my 5 go tos No cost to you the borrower. On a typical residential mortgage transaction, 99% of the time there is no cost to the borrower as brokers are typically compensated with a finders fee from the lender. Unbiased advice. Mortgage brokers are independently licensed and have access to products from multiple lenders, thereby allowing for a broad range of options and tailored solutions. This contrasts with mortgage advisors that may work only for a specific lender and only have access to that lenders suite of products. Preferential Rates. Based upon being part of a national network and achieving large volumes with multiple lenders, mortgage brokers have access to preferential rates that are often lower than those that a borrower could negotiate on their own. Solutions for unique situations. Self-employed? Bruised credit? Sometimes borrowers dont tick all of the boxes with a bank so where do they turn? A mortgage broker may be the best option for a solution. Committed. A good mortgage broker is committed to their clients real estate investment journey and has a vested interest in their long-term success. In the end, as I like to say, its an absolute no-brainer to work with a mortgage broker. Or at least speak with one. A good mortgage broker will ALWAYS be helpful, whether it be helping you develop a mortgage strategy tailored to your needs or confirming that your options with your existing lender are best for you to stay with. Its on us to provide sound advice and direction that best suits the client.

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TD Bank Scotia Bank First National MCAP B2B Bank Home Trust
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