"What's your best rate?"

"What's your best mortgage rate?" This is the million dollar question... or is it? I am asked this everyday, my response is "What is your mortgage strategy?" Most people are thrown off by this response as they do not have a mortgage strategy. The truth of the matter is that there are so many different mortgage rates and products that without developing an in depth personal mortgage strategy we really don't know what the best rate is for you and your mortgage plan.

Are you purchasing your first home?

Are you refinancing an existing home? Are you going to sell this home within the next 3-5 years?

Are you renovating your home?

Are you consolidating debt?

Do you own an investment property?

Do you need cash back?

Tailoring a mortgage to a client's needs is something many mortgage professionals do not do enough of. As a Mortgage Advisor it is my commitment to discuss all your mortgage options, and answer all your questions and concerns.

The lowest rate says nothing about the quality of the mortgages and the service provided, your ability to qualify or the support you can expect with a given rate. Keep in mind, most deeply discounted rates come with little service or mortgage planning. If you want someone who takes time to carefully review your best alternatives and warn you of lender restrictions, and be available for your mortgage needs before, during and after the mortgage process it is rational to pay 5-10 basis points extra for that service (2.99% instead of 2.89% for example). That difference is minimal when you need the right advice, because bad mortgage selection will balloon your cost of borrowing after closing.