EP027 What is a Mortgage Broker with Leanne Myles
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Leanne Myles is currently among the Top 20 brokers with Premiere Mortgage Centre and was one of the finalists at the 2017 Canadian Mortgage Awards for Best Alternative Lending Mortgage Broker of the Year.\\xa0 Leanne is not only passionate about helping her clients but also in giving back to her community as she raises funds to pay for mortgages of sick people who are undergoing treatment.
Leanne joins me today to share what a mortgage broker does and how they get paid. She talks about how she overcame negative feedback from family and friends in her decision to shift careers from salary-based to commission-based. She also shares how to best prepare if you\\u2019re going to work with a mortgage broker and tips for first-time homebuyers.
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\\u201cWe fit the client with the appropriate lender - not the other way around.\\u201d - Leanne Myles
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This Week on Young Money:
- What mortgage brokers do
- Why her shift from a salary-based job to a commission-based career is the biggest turning point in her life
- Financial matters she wishes she knew when she was younger
- What bruised credit is
- How she determines the right product for clients
- How to work with a mortgage broker
- What clients don\\u2019t know about getting a mortgage from a bank
- Open Mortgage vs. Closed Mortgage
- Impact to homeowners based on the recent change in mortgage rules
- How mortgage brokers get paid
- Tips on how to have a good relationship with your mortgage broker
- How to check your credit score aka your financial reputation
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Key Takeaways:
- Bruised credit does not mean a bad person. It means somebody who\\u2019s been through a major life event.
- Make sure you have the right mixture of credit.
- Take responsibility for your credit reputation.
- If you\\u2019re considering buying a home, you need to start a savings account and understand your income and cash flow.
- Home ownership is more than the mortgage payment.
- Be honest and upfront with your broker about your financial standing.
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Connect with Leanne Myles:
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