Buying a home can be a challenging experience for everyone, especially first-time home buyers. Strict credit standards, high down payments, and a challenging real estate market make up a series of roadblocks to the pursuit of buying a new home. The uncertainty of the market is only part of the problem. There's also the fact that sometimes it can be a daunting process to even know where to start and the documents required.  

I am Jeff Cody, a mortgage broker with Platinum Mortgages Ottawa (Mortgage Architects). I want to help people understand the importance of hiring the services of a mortgage broker. This is why I have written down information that will help you understand why you shouldn't try to choose your mortgage on your own. 

You may end up overpaying due to a lack of experience 

Selecting a mortgage on your own could get you locked into a mortgage without the flexibility you require, it could have a large pre-payment penalty, little to no pre-payment privileges and no portal to manage your mortgage. You could end up paying a higher interest rate and costs doing it yourself. 

Moreover, it is difficult to fix a mortgage after it is closed and registered on the property. Your best option is to wait until the end of the term to correct it or there could be a huge cost to change mid term. 

Do things right - Hire a professional 

Mortgage brokers specialize in mortgages every day and are up to date with current products and mortgages available. They shop the mortgage market for the best rate and product available to suit your needs all at no cost. 

Using a licensed mortgage broker to do the shopping and give advice and options ensures that you do not have to pay for the services for residential “A” mortgages as the mortgage lenders pay the broker a commission.

If you are looking for a licensed mortgage broker in Ottawa, reach out to Jeff Cody. I am a fully licensed mortgage broker with Platinum Mortgages Ottawa (Mortgage Architects). I obtained my Bachelor of Mathematics degree, majoring in Business, from the University of Waterloo and later obtained my mortgage broker license in 1988. My thirty-plus years of financial background includes three years working for CMHC, lending for several trust companies, business management, and over thirty years of mortgage brokering in the Ottawa area.

My mortgage services include purchase and refinance mortgages, first-time home buyer mortgage, mortgage pre-approval, residential and commercial mortgages, home equity loans, private mortgages, etc. I serve clients across Stittsville, Kanata, Orléans, Ottawa, Clarence-Rockland, Perth, Cornwall, Kemptville, Smiths Falls, Barrhaven, Nepean, Almonte, Carleton Place, Embrun, Prescott, Arnprior, Munster, Lanark, Merrickville-Wolford, Brockville, Casselman, Renfrew, and the surrounding areas.

Get in touch with me today!

To learn more about the services I offer, please click here. To get in touch with me, please click here or call me toll-free at (902) 315-2547.