What Is "Mortgage Planning?"

Mortgage planning is the creation and execution of a strategy to:

1. Save the most possible interest over the lifetime of your mortgage; and,
2. Utilize your mortgage to accelerate wealth accumulation.

How Does It Work?

Planning a mortgage involves six steps. We:

1. Review your Mortgage Profile
2. Confirm the risk you're willing to take to reduce interest costs
3. Perform a rate simulation and amortization analysis to determine which term(s) potentially save the most interest over 5 years
4. Determine which features you're willing to forgo to save interest, and which are mandatory for your lifestyle and financial goals
5. Research which lenders offer the lowest rates for the term and features you require
6. Issue a professional recommendation

Assuming you're pleased with the recommendation, we then:

1. Complete your application
2. Submit for approval
3. Collect and forward your documents to the lender
4. Manage the appraisal and instructions to your lawyer
5. Close your mortgage!

How MyVirtualMortgageBroker Is Different:

Our mortgage planners are unique in four ways. We:

  Work with all major lenders, not just those who deal with brokers. So you're always ensured of bias-free recommendations.

  Quote the lowest rates we have access to. Unlike many firms, we never mark up rates. Ever!

  Use proprietary techology to determine which terms, or combination of terms, are least costly over a 5-year period. Many mortgage advisors make recommendations using only a cursory understanding of interest rate studies. Our recommendations are guided by mathematics, a sound understanding of rate cycles, and a comprehensive knowledge of the available research.

  Recommend strategies to:

Build liquidity (monetary "insurance" against unforseen events)

Accelerate debt repayment (using various pre-payment strategies)

Build assets (thus ensuring your equity does not have a 0% return)

Maximize tax deductions (by leveraging equity to build your non-registered investments and/or contribute to your RRSP)