Make Money Count

In this episode of Make Money Count Justin and Marcus talk about CLOWN blow up dolls, oh yeah and they also discuss how to secure the best mortgage rate for your situation. Marcus goes over the different types of rates and how they apply to different types of borrowers. The best mortgage now and forever and what that means for you, how Cannect can secure you the best mortgage for your situation and how that mortgage will be a solution not only just for now but forever.

Click here to connect the the best mortgage brokers in Canada, Cannect Home Financing.

0:00 Intro

This week's episode takes a deeper dive into Cannect MIC. Specifically, it goes into how Cannect generates returns for investors, how it mitigates the risks involved, and how it maintains motivational alignment between the borrowers and the investors. Have a listen to get the details.

If you were looking for more mortgage-focused information this week, go check out MakeMoneyCount.com to see previous episodes that are more centered on what you are looking to learn about. Or find Cannect on the social media platform of your choice.

Click here to connect the the best mortgage brokers in Canada, Cannect Home Financing.

0:00 - Intro

4:27 - Introduction to Cannect MIC

6:00 - Cannect MIC differs from its peers because it is direct to its borrowers and direct to its investors.

7:56 - Cannect MIC has $2M subordinated behind the rest of the fund, so Cannect takes losses up to $2M before the rest of the investors.

10:45 - Marcus explains to a caller how Cannect generates its returns and mitigates risk.

14:01 - Matthew goes over a real example of how Cannect generated returns by helping a borrower get to lower cost capital.

16:50 - Credit is say easier to fix than people think.

19:18 - Marcus explains to a caller why the investment minimum is $2500 and the lockup period.

25:26 - Cannect keeps investors informed and engaged through its investor portal.

28:14 - Check out MakeMoneyCount.com to find old episodes and links to our social media.

29:46 - Matthew explains how millennials are looking to get more involved with their own investment decisions.

32:25 - Marcus explains what he found to be missing pieces in the mortgage industry and how he aimed to solve them throughout his time in the industry.

This week's episode explored the impact of monetary policy on current interest rates, and inflation levels. According to the Atlanta Federal Reserve, quantitative easing over the last few years had a negative 2% impact on interest rates. What does this mean for you? Now that it may be slowing down, does this mean it's officially time to lock in to a fixed rate mortgage? Have a listen to the episode to find out!

Click here to connect the the best mortgage brokers in Canada, Cannect Home Financing.

This week's episode discusses renewal and refinancing options. We go over the differences between a refinance and a renewal and when it is best to move forward with either decision. Determining the right time to break your mortgage is important in order to make the transfer as cost-effective as possible for you and Cannect can help you with just that.

Big banks are not going to look out for you, they are going to try and cross-sell you whenever they have the opportunity. It's so important to know what banks are motivated by and if you can use that to your advantage, you'll have a leg up on everyone else. Have a listen to get this understanding and also what to consider when deciding to purchase a rental property in order to maximize your long-term earning potential.

Click here to connect the the best mortgage brokers in Canada, Cannect Home Financing.

This week’s episode explored a few topics. The first being a report that millennials are looking to their parents for loans more than past generations. The next being the Cannect exit strategy: what is it, and how does it work? Take a listen to explore these topics with us.

One thing that is quite clear in this industry is that Canadians pay WAY to much for home equity loans when their banks decline them. We are at a point where pricing is determined exclusively by supply and demand instead of by the amount of home equity, the way it should be. Cannect is determined to bring the Canadian mortgage marketplace closer and closer to that point. Our commitment is to improve the financial well-being of our borrowers and we would love to do that on as large of a scale as possible.

2:11 - Marcus explains how low interest rates leading to higher asset prices is a factor for this.

4:37 - Cannect can help structure a credit facility within the family.

8:14 - Justin and Marcus answer an email question about drawing equity out of one’s property to invest it.

10:58 - Cannect MIC is an option for investing this drawn equity.

13:59 - Cannect’s goal for every client is to make sure they are well informed.

15:52 - Borrowers come to Cannect to improve their financial position.

18:57 - Education, weddings, and many more large expenses are regularly paid for by parents even if it puts them in a financially vulnerable situation.

20:46 - The Cannect “exit strategy” is simply taking a borrower from one debt position and bringing them into a lower-cost one.

23:47 - A listener emails in who may be in a better debt position than she thinks.

28:23 - “The cure to anxiety is creativity”. Take action and make the call to see if you can improve your debt position.

32:42 - Canadians with ample home equity still find themselves paying way too much in interest.

34:45 - OSCAR is Cannect’s sophisticated mortgage underwriting technology.

37:31 - Like Googling your symptoms to make a self-diagnosis, finding the solution to your debt situation through Google can be difficult.

38:48 - Use Cannect as the resource to help you unlock and/or park your equity.

This week's episode was centered around the mortgage renewal. People think that they are doing themselves a favor by accepting their lender's offer right when they contact you just to get it off your plate. We also continued with our previous show's conversation regarding interest rates and the direction they are taking. Whenever interest rates start to go up, variable rate borrowers should examine whether or not now is the time to lock into a fixed rate mortgage. Have a listen to learn how to get the best rate on your renewal and to get some insight on whether or not now is the time to lock into that fixed rate.

If your mortgage is coming up for renewal soon, try out the tips from this episode! If you already forgot what they were or just didn't feel like listening this week, give Cannect a call instead. We can help you get the best renewal rate possible, even if it means switching to another lender. All the work that's involved with making the switch, we'll take care of it.

0:00 - Intro

Back in 2006, the Bank of Canada produced a report that does a great job highlighting why Canadians should be using mortgage brokers. Did you know that the banks discriminate based on loyalty? Have a listen to the episode to hear more surprising facts from the article.

Ultimately, all of these benefits to using a mortgage broker can be summarized to simply having someone in your corner when it’s time to renegotiate your mortgage. The misconception about them is that they are just 3rd parties that get added to the transaction and their commissions come from your rate savings. Mortgage brokers get paid by the lender of your mortgage, not you. And if you don’t follow through with the deal, you don’t owe us anything! The unbiased advice our agents provide is free of charge. Our only objective is to make sure all of our borrowers are in the best mortgage suitable to their goals and needs. Never hesitate to give us a call to find out if there's a way your mortgage situation can be improved.

Marcus Tzaferis and the Cannect Team

5:32 - What is a mortgage broker?

6:47 - A Bank of Canada report from 2006 shows the true benefits of using a broker.

11:47 - Caller question regarding the refinance of a commercial mortgage.

17:39 - Marcus and Justin discusses why and how banks may not have your best interests at heart.

21:41 - Justin explains to a caller how going to a mortgage broker is the best way to get free, unbiased advice for your mortgage situation.

24:43 - Matthew explains how an evaluation of your investment options relative to the rate you can borrow is imperative prior to a mortgage refinance.

26:40 - Cannect’s main goals are moving borrowers to lower-cost capital and optimizing the efficiency of their mortgage.

32:08 - Marcus takes a look at bond yield changes over the last 15 days and discusses how they may impact fixed-rate mortgages.

This week's episode is all about Cannect's investment vehicle, Cannect Mortgage Investment Corporation (Cannect MIC). Since 2013, we have been lending home equity loans to borrowers who need to repair or build their credit score, income, or their property. This won't be news to our longtime supporters and podcast listeners, but have a listen to this week's episode to learn more about Cannect from the investor's point of view.

Cannect's goal is to generate stable, consistent returns that are uncorrelated to the stock market. It can be a great complement to a diversified investment portfolio. If you have any questions about our MIC, give us a call anytime to learn more.

0:00 - Intro

We have discussed reverse mortgages on the show before, but this week we took a much deeper dive. We explored what it is in the most basic terms, the pros and cons, whether it is sufficient for retirement income, the age requirements, the equity requirements, and how it factors into your future estate. Have a listen to the episode below to get all of these answers.

As far as we explored the reserve mortgage, the main takeaway from the episode should still be that Cannect's objective is to find the right mortgage for everyone that calls us. There are so many great financial products out there, but if you just walk into a mortgage lending company that offers reverse mortgages and ask for one, they'll give it to you. The agents at Cannect will ensure that there is no superior product out there before recommending a reverse mortgage to you. It is a great product, but only if it is absolutely necessary. A call to Cannect might be exactly what you need to find out what that ideal product for you is.

0:00 - Intro

2:42 - What is a reverse mortgage?

3:34 - What makes a reverse mortgage attractive?

4:35 - Limitations of a reverse mortgage

8:29 - An alternative for accredited investors might be borrowing money to invest.

11:20 - A reverse mortgage in basic terms.

13:19 - An email from a listener looking at debt consolidation options and how his family can potentially help.

19:29 - Small percentage changes to your debt can be life changing.

21:38 - Can a reverse mortgage be used as a primary income source during retirement?

25:34 - Ideal age for a reverse mortgage and planning it with your retirement and future estate.

30:00 - The product range the Canadian mortgage market can have is advantageous to the consumer.

32:08 - The reverse mortgage is a great product, if it needs to be used.

36:20 - Text question from a listener about taking equity out of his home to assist his daughter make a down payment.

39:33 - Text question from a listener about getting turned away from a reverse mortgage lender.

This week's episode talked about two important aspects of today's lending landscape: credit and modern technology. Credit has been essential to securing low-cost capital forever. While everyone thinks that bad credit is impossible to repair, it is in fact the complete opposite. Have a listen to the episode to get a better idea on how credit can be improved.

0:55 - An uncertain economy can ruin credit, but it can easily be repaired.

3:36 - Matthew explains why Canadians should start a dialogue on improving their financial situations.

5:39 - Marcus elaborates on why a mortgage broker can be that trust person to speak about your financial situation with.

10:30 - The banks only have certain tools to help you, and their profitability comes first.

17:19 - Canadians are becoming more well informed on the limitations of their bank’s advice.

19:34 - Cannect’s people and technology are its driving force.

27:03 - Marcus explains some differences between borrowing in Canada vs Europe.

29:48 - Email question from a borrower whose bank told her to seek out a broker.

34:26 - It’s more profitable for banks to lend unsecured credit than to refinance a borrower’s mortgage.