Support those who back you

Every once in a while I read something that really seems to hit home.

Last, week I came across something on Facebook that I’d like to share with you. This will circle back to mortgages, I promise.

A father, before he died, said to his son: “This is the watch your grandfather gave me and this is more than 200 years old. Before I give it to you, go to the watch shop on First street, and tell him I want to sell it, and ask how much they'd offer.”

The son went and after several minutes, he came back to his father and said, "The watchmaker offered to pay $5 because it's old and has a lot of scratches.” He then asked him to go to the coffee shop.

The son went and after an hour or so, he came back and said: “The coffee shop owner offered $5, father.”

“Go to the museum and show them that watch.” He went ahead and then came back happily.

“They offered me a million dollars million for this piece.”

The father said: “I wanted to let you know that the right place values you in the right way. Don't put yourself in the wrong place and get angry if you get treated like trash. Those who know your value are the ones who appreciate you, don't ever stay in a place that doesn't suit you."

Know your worth.

So how does this relate to mortgages?

During the last few weeks, I’ve been working on some very complex and challenging mortgages. Particularly for self-employed individuals, finding the right lender and mortgage product can feel a little like sorting out a Rubik’s cube — tough to make all of the pieces line up properly.

From time to time, this can feel disheartening when the numbers don’t line up. I found the quote above after a particularly frustrating day.

After a good night’s sleep, I woke up with an idea as to how to restructure one of my applications, and was pleased to find an approval for my clients within a day.

I am grateful as for the most part I work with amazing people. I love what I do as no two days are ever the same. Each day presents new opportunities to learn.

The above quote reminded me that even though some days are a little tough, I am blessed to work with clients that appreciate me.

Every once in a while I am reminded that people operate differently.

For me, its been a gradual evolution. When my girls were younger and funds were tight, I didn’t have much of a choice – I had to find the cheapest alternatives (food, clothing, etc), which generally meant shopping at the big box stores.

At a learning event a few years ago, we talked about self-employed individuals and small businesses in our community. We talked about how these smaller businesses support individuals and families locally. Trying to look for a deal or have people drop their prices directly impacts their bottom line.

Now, if I have the opportunity, I will purchase something made locally or from a smaller local vendor before I will buy the same item from a bigger chain store.

And how does this tie into mortgages?

I’ve been working with a family in Northern B.C. for almost two years. We’ve spent a lot of time discussing strategies and options as they have been looking for a unique property and are stretching their budget to make it happen.

They called me a few weeks ago to say that they had written an offer and called one of the national discount mortgage brokerages that advertise cheap mortgage rates for their approval.

They were really frustrated as the person they were working didn’t seem very knowledgeable, and that the rate he came back with was not the same as what was posted in all of their advertisements.

The unfortunate part of their story is that they lost the property as they were unable to get their financing in order and the seller would not extend the contract.

There is a lot more to finding the right mortgage than the lowest rate. There can be clauses and conditions that may cost you thousands down the road if you don’t understand what you are signing.

Working with a professional that takes the time to explain both the process and the fine print is key.

When you are purchasing goods or services from someone you know, rather than trying to wangle the cheapest alternative take a few moments to remind yourself of the value of working with someone you know, like, and trust.

I am very grateful for the amazing people in my world, professional and personal. I feel very blessed to work with clients who appreciate the skills and knowledge I bring to the table.

Hoping you’ve been able to enjoy time with family and friends this long weekend.

Happy Thanksgiving!

This article is written by or on behalf of an outsourced columnist and does not necessarily reflect the views of Castanet.