A client recently called Fort McMurray Whalen Mortgages. She was our last hope. The big banks had told her that she didn’t qualify for her dream home, and if she didn’t have a solution soon, she’d lose the opportunity.  

The banks had told her to go save up 10% down. They ignored her decent credit and the 5% down payment her parents were able to offer.  

This wasn’t surprising to us. Most banks have five or six mortgage products. If you don’t fit their narrow profile, they reject you. Whalen Mortgages is a Fort McMurray mortgage broker.  We work with around forty lenders of various types, ranging from big banks to credit unions to private investors. Each one of these has five to six mortgage products in their portfolio. All of them – around 200 at any given time – is accessible to us and our clients.  

We were able to find a mortgage lender that accepted the 5% down payment from her parents as the gift for the down payment on the property. They counted her family allowance and child support as income. This gave her a low debt to income ratio and allowed her to qualify for a low mortgage rate. She made the offer on her dream home, and they closed on her new Fort McMurray home.  

I’m not a personal fan of cash back deals, but the 3% cash back from the lender was a life-saver for our client in this case. She used the money to fix the hot water heater and the deck on the property. She didn’t have to go any further into debt to do so. And she was able to move immediately into her dream home. It is stories like this that keep us going at Fort McMurray Whalen Mortgages.  

And all we do is handle mortgages. We don’t just help people move into a new home. We assist people in debt that need to consolidate their loans into a single, low-interest rate home equity loan or primary mortgage. We help people refinance their existing mortgage so they can afford the property, whether their mortgage is up for renewal, they need to secure a lower interest rate, or they were ripped off by a bad credit loan when they bought the property. On renewal do not make the mistake of failing to shop around or trying to get a better deal. There’s no point in paying more than you have to.  

Unlike the big banks, all we do is mortgages. We aren’t going to pressure you into opening a savings account or moving your car loan to our institution. We don’t handle GICs or RRSPs. This means every mortgage broker of our Fort McMurray team is an expert on Fort McMurray mortgages.  

Give us a call at 780-715-7533 so we can explore your options and create a sound financial plan to help you reach your long-term goals. You lose nothing if we can’t help you save money, but you can’t afford not to find out.