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Bankers and mortgage brokers need to pay closer attention to what really matters to consumers when it comes to choosing the right mortgage ingredients. Is Rate the only, or most important ingredient of your mortgage that should matter? Are all other aspects of your mortgage just fillers?

Speaking of fillers…

I saw a dog food commercial that declared that the their brand contains Chicken as its first ingredient. It also says that is contains a supplement that is supposed to make your dog’s eyesight better.

Now, is that the best information for the human? For the dog? Or for the Label to sell? What about the other 4 first ingredients which make up the bulk of the total ingredients in a lengthy list?

Is this formula really satisfying to you because it is priced low, or is it best for your dog?

I can tell you now that the other 4 top ingredients would not make my personal diet list. Certainly my dog couldn’t get excited over those fillers, By all accounts they are unhealthy, full of cheap belly fillers, but offer no nutritional value. Is that good for anyone?

Ok, I know, this is a long stretch to compare dog food to mortgages. But does your mortgage contain these “Filler” ingredients, or “Options”, that are truly important to you?

Actual mortgage options that you will ever have a chance to take advantage of. (i.e 25% annual overpayment privilege, transferability, portability, skip a payment, double up payments, weekly accelerated payments.)

Timely service.

Lender to automatically renew your mortgage at the lowest market rates, and not at bank’s posted rates( typically ove 1% higher than discounted rates), – without re-qualifying you.

Personal attention – day, night and weekend.

Commitment to searching for all alternatives prior to offering the right ones, instead of pushing onto you the one or two options the management is told to push that week.

Now, if these are not attractive ingredients for your mortgage…what are?

Most consumers have one question on their mind… What’s your rate? Is that because advertisers reduced our choice matrix to that one factor? What happened to old school customer services and representation? Were we just as obsessed over rates then, or did we bank where we knew that consultant had the right approach, the correct product and that the institution was truly committed to helping us?

There is a dog food on the market that comes from Alberta. The first four ingredients on the list read as follows:

Fresh deboned wild boar*, fresh deboned lamb*, fresh beef liver*, fresh deboned pork*.

For real? Anyone getting hungry?

When was the last time a Mortgage read like this ingredient list?

For the client who doesn’t know the difference between dog food and mortgages let me save you the time and assure you that rate won’t make you as hungry or excited as the right fillers of your mortgage should. Still, a good advisor should automatically offer you their best, most competitive rate as a starting point. But if rate is all you really expect from your lender, then you may want to rethink what you are feeding your dog.

Your mortgage shopping spree should leave you almost as happy as my dog feels when I feed her that Alberta premium brand.

Great thing about mortgages is that a premium brand of mortgage doesn’t mean it is more expensive. Unlike Dog Food, you should Just Expect More.

Still with me? Then I have a cat food story that will have you in stitches…

For a good mortgage consultant, or name of the Brand I just described, please head to

Office: P. 416.441.2888; F. 416.441.9926; 2145 Avenue Road, Toronto, Ontario M5M 4B2

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