The Benefits of Consulting a Mortgage Broker

Diane Buchanan • March 7, 2019

Navigating the real estate and mortgage processes with the help of an expert mortgage broker can help set your mind at ease when making one of the largest financial decisions of your life.

Mortgage brokers negotiate with lenders on behalf of borrowers daily, so they know the ins and outs of what’s really important when arranging the best mortgage product and rate based on the unique immediate and longer-term needs of each borrower.
Brokers have access to multiple lenders’ products — including offerings available through banks, credit unions and trust companies, as well as alternate and private lenders. This means more choice for you — and better access to a product and rate that will meet your specific mortgage requirements.

Look Beyond Rate

While mortgage rate plays an important role in the affordability of your mortgage, there are a lot of other factors that can end up costing you more down the road if you fail to consider them when negotiating your mortgage terms. For instance, if you opt for a five-year fixed-rate no frills mortgage product to take advantage of a great rate upfront, but you decide to move before the five-year term is up, you may face thousands of dollars in penalties to break your mortgage. These penalties can far outweigh any savings you made in opting for a lower upfront rate.

By discussing your longer-term needs and goals with you at the start of your home and mortgage shopping experience, your mortgage broker will also help ensure you look for properties within your means — avoiding the potential issue of falling in love with a home you simply can’t afford.

Your mortgage broker will ensure you’re pre-approved for a mortgage so you know what you can afford. And, should rates increase during your pre-approval period, rest assured you will be offered the lowest rate.

Use a Broker at Renewal

It’s just as important to negotiate your mortgage product and rate at renewal time as it is the very first time you get a mortgage.
Your mortgage broker should stay in touch with you throughout the life of your mortgage and help you every step of the way. This partnership lets them re-evaluate your needs annually and assist you with a refinance when you’re in need of extra money for such things as financing renovations or your children’s education. You may also wish to buy an investment or rental property down the road.

Ask questions

If you don’t understand something your mortgage broker has told you, it’s important to ask for clarification. It’s their job to ensure you understand. After all, in the vast majority of cases, mortgage brokers across Canada are paid by the lender once they successfully place your mortgage. So it’s in your broker’s best interest to ensure you receive the best possible mortgage product and rate now and as long as you have a mortgage.

This article was produced by Mortgage Professionals Canada (formerly CAAMP), the national association and the collective voice of the mortgage industry in Canada.

DIANE BUCHANAN
 Mortgage Broker

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Smart Steps to Get Your Home Market-Ready

By Diane Buchanan • September 3, 2025
Thinking About Selling Your Home? Start With These 3 Key Questions Selling your home is a major move—emotionally, financially, and logistically. Whether you're upsizing, downsizing, relocating, or just ready for a change, there are a few essential questions you should have answers to before you list that "For Sale" sign. 1. How Will I Get My Home Sale-Ready? Before your property hits the market, you’ll want to make sure it puts its best foot forward. That starts with understanding its current market value—and ends with a plan to maximize its appeal. A real estate professional can walk you through what similar homes in your area have sold for and help tailor a prep plan that aligns with current market conditions. Here are some things you might want to consider: Decluttering and removing personal items Minor touch-ups or repairs Fresh paint inside (and maybe outside too) Updated lighting or fixtures Professional staging Landscaping or exterior cleanup High-quality photos and possibly a virtual tour These aren’t must-dos, but smart investments here can often translate to a higher sale price and faster sale. 2. What Will It Actually Cost to Sell? It’s easy to look at the selling price and subtract your mortgage balance—but the real math is more nuanced. Here's a breakdown of the typical costs involved in selling a home: Real estate agent commissions (plus GST/HST) Legal fees Mortgage discharge fees (and possibly a penalty) Utility and property tax adjustments Moving expenses and/or storage costs That mortgage penalty can be especially tricky—it can sometimes be thousands of dollars, depending on your lender and how much time is left in your term. Not sure what it might cost you? I can help you estimate it. 3. What’s My Plan After the Sale? Knowing your next step is just as important as selling your current home. If you're buying again, don’t assume you’ll automatically qualify for a new mortgage just because you’ve had one before. Lending rules change, and so might your financial situation. Before you sell, talk to a mortgage professional to find out what you’re pre-approved for and what options are available. If you're planning to rent or relocate temporarily, think about timelines, storage, and transition costs. Clarity and preparation go a long way. The best way to reduce stress and make confident decisions is to work with professionals you trust—and ask all the questions you need. If you’re thinking about selling and want help mapping out your next steps, I’d be happy to chat anytime. Let’s make a smart plan, together.

From Summer Shine to Fall Fine: Smart Home Projects to Tackle Before the First Frost

By Diane Buchanan • August 27, 2025
As patios wind down and pumpkin spice ramps up, fall is the perfect reset for your home—and your homeowner game plan. These quick wins boost comfort, curb appeal, and efficiency now, and set you up for a low-stress winter (and a strong spring market). 1) Safety & “silent leak” checks (Weekend-ready) Clean gutters & downspouts. Add leaf guards where trees overhang. Roof scan. Look for lifted shingles, cracked flashings, or moss. Seal the shell. Re-caulk window/door trim; replace weatherstripping. Test alarms. New batteries for smoke/CO detectors; add one near bedrooms. Why it matters: Prevent water intrusion and heat loss before storms roll in. 2) Heat smarter, not harder Furnace/boiler tune-up and filter change. Smart thermostat with schedules and geofencing. Draft hunt. Foam gaskets behind outlets, door sweeps on exterior doors. ROI tip: Efficiency upgrades lower monthly bills and can improve lender ratios if you’re eyeing a refinance later. 3) Fall-proof your yard (so spring you says “thanks”) Aerate + overseed + fall fertilize for thicker turf next year. Trim trees/shrubs away from siding and power lines. Mulch perennials and plant spring bulbs now. Shut off/bleed exterior taps and store hoses to avoid burst pipes. 4) Extend outdoor season (cozy edition) Portable fire pit or propane heater + layered blankets. Path/step lighting for darker evenings (solar or low-voltage). Weather-resistant storage for cushions/tools to preserve value. Neighborhood curb appeal: Warm lighting and tidy beds make a big first impression if you list in shoulder season. 5) Water management = winter peace of mind Re-grade low spots and add downspout extensions (2–3+ metres). Check sump pump (and backup). Look for efflorescence or damp corners in the basement. 6) Mini-renos that punch above their weight Entry/mudroom upgrade: hooks, bench, boot trays, closed storage. Laundry room tune-up: counter over machines, sorting bins, task lighting. Kitchen refresh: new hardware, tap, and under-cabinet lighting in one afternoon. Budget guide: Many of these land under a micro-reno budget—perfect for a modest line of credit. 7) Indoor air quality tune-up Deep clean vents and dryers (including the rigid duct). Add door mats (exterior + interior) to catch grit/salt. Houseplants or HEPA purifier for closed-window months. Fast Timeline (pin this to the fridge) Late August–September Gutters/downspouts, roof/caulking, HVAC service, lawn care, plant bulbs, exterior tap shut-off plan, path lighting. October Weatherstripping/sweeps, fire pit setup, organize mudroom/garage, test alarms, sump check, downspout extensions, dryer vent cleaning. Financing smarter: make your mortgage work for your home Annual mortgage check-in. As rates, income, and goals evolve, a quick review can free up cash flow or open options for a small fall project budget. HELOC vs. top-up refinance. For bite-size projects, a HELOC can be flexible. For bigger renos you plan to pay down, a top-up refi might make more sense. Bundle & prioritize. Knock out the high-impact, low-cost items first (air sealing, safety, water management) before the cosmetic upgrades. Not sure which route fits your fall plans? We’ll run the numbers and map the best financing path for your specific budget and goals. Quick Checklist (copy/paste) ☐ Clean gutters/downspouts; add guards ☐ Roof & flashing visual check ☐ Re-caulk, weatherstrip, add door sweeps ☐ HVAC service + new filter ☐ Aerate/overseed/fertilize; trim trees; plant bulbs ☐ Path & entry lighting ☐ Drain/bleed outdoor taps; store hoses ☐ Downspout extensions; sump test ☐ Dryer vent cleaning ☐ Mudroom/garage organization ☐ Schedule mortgage review / discuss HELOC vs refi Ready to make fall your low-stress season? Book a quick fall mortgage check-up—15 minutes to see if a small credit line or a tweak to your current mortgage could cover your priority projects without straining cash flow.