# Edmonton Mortgage Broker



## Trapster (25 May 2013)

Hey everyone, just discovered the forum here and appreciate all of the advice that's been given so far.

I'm looking for someone to recommend a mortgage broker in the Edmonton area who has experience with DND/CF moves.

The only person in Edmonton I could find is Miranda Morrison with The Mortgage Group.

Any feedback is appreciated, thanks.


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## Occam (25 May 2013)

No need to restrict yourself to a broker in the Edmonton area.  The fax machine and scanner make any broker within range of having you as a client.

I highly recommend Scott Walker at HLC.  He's in Nova Scotia, but he's done well by me with two home purchases (soon to be three) and a mortgage renegotiation.  Put his name in the search page at http://www.hlcmortgages.com/ca/home.page.

We just renewed our mortgage for five years at 2.89%.  Crazy low rates right now...if you can get the right people pulling for you.


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## Trapster (26 May 2013)

Occam said:
			
		

> No need to restrict yourself to a broker in the Edmonton area.  The fax machine and scanner make any broker within range of having you as a client.
> 
> I highly recommend Scott Walker at HLC.  He's in Nova Scotia, but he's done well by me with two home purchases (soon to be three) and a mortgage renegotiation.  Put his name in the search page at http://www.hlcmortgages.com/ca/home.page.
> 
> We just renewed our mortgage for five years at 2.89%.  Crazy low rates right now...if you can get the right people pulling for you.



Great, thanks. I am definitely open to outside of Edmonton, but I find it easier to meet in person with people and go over paperwork rather than do it over the phone. Just my personal preference...


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## Sf2 (26 May 2013)

Just remember, its not always about the lowest rate.

Sometimes those attractive rates come at a price - such as restrictive rules about lump sum payments on the principle, and inability to port.


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## 63 Delta (26 May 2013)

Has anybody ever successfully ported a mortgage? Seems more of a gimmick to me.


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## Sf2 (26 May 2013)

I just did this APS - using an ING "Unmortgage".  I was 2 yrs into a 4yr term.  Ported to a larger mortgage with zero issues.


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## Occam (26 May 2013)

HULK_011 said:
			
		

> Has anybody ever successfully ported a mortgage? Seems more of a gimmick to me.



Yes, did a port and increase on my move to Ottawa, and now I'm about to do a port and increase on my retirement move.  Plain old FirstLine (now CIBC) mortgage.  

What makes you have the impression that it's a gimmick?


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## Trapster (26 May 2013)

I inquired about a port and an "extend and blend" with a TD mortgage specialist, who told me my mortgage was fully portable. He hardly even acknowledged it though and strongly encouraged me to break my mortgage and pay the $6k penalty to take advantage of the low interest rates. From what I have been reading though, the extend and blend is the way to go. This is why I am trying to get some other opinions from brokers independent from the bank.


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## Eye In The Sky (26 May 2013)

For anyone in Nova Scotia or who doesn't mind dealing with brokers out of province, I'd recommend Randy Locke from The Mortgage Center.

Excellent service, excellent response times for questions, etc, all mortgages fully portable.  I just locked in 5 yrs at 2.89% with the ability to increase payments up to 15% _as well as _ pay up to an additional 15% over and above my regular payments each year.  More than enough flexibility IMO.

Regardless of where I'm posted I will be dealing with Randy.


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## dapaterson (26 May 2013)

Eye In The Sky said:
			
		

> For anyone in Nova Scotia or who doesn't mind dealing with brokers out of province, I'd recommend Randy Locke from The Mortgage Center.
> 
> Excellent service, excellent response times for questions, etc, all mortgages fully portable.  I just locked in 5 yrs at 2.89% with the ability to increase payments up to 15% _as well as _ pay up to an additional 15% over and above my regular payments each year.  More than enough flexibility IMO.
> 
> Regardless of where I'm posted I will be dealing with Randy.



I negotiated my own mortgages with banks - brought in proof of better rates in the market and they (grudgingly) matched.

Take advantage of the prepayment option.  Usually you can throw money at it as it's available - don't want to put down 15%, put down a little here and there.  For example, once you've maxxed out on EI and CPP, put the increase in your take-home pay against the mortgage.  You won't notice it, but it will whittle down how much you owe.

Your goal should be to be mortgage free at release (assuming a 25+ year career).  That will open up remarkable opportunities, since your single biggest expense will disappear.


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