McCallum Mortgages Inc.

01/29/2025

12/11/2024

BREAKING: The Bank of Canada has lowered its policy rate by 50 bps to 3.25%

The Bank of Canada has lowered its benchmark rate by 50 bps, bringing it down to 3.25%. This marks the fifth consecutive cut since June.

"The Bank of Canada's decision to lower the interest policy rate marks an important step in addressing housing affordability challenges across Canada. This decision offers much-needed relief to middle-class families, aspiring homeowners, and first-time buyers who have been navigating significant financial pressures. While this is progress in the right direction toward making homeownership more affordable, there’s still more work ahead. As the voice of Canada’s national mortgage industry association, we remain committed to pushing for solutions that make homeownership more accessible and affordable for everyone.”

- Lauren van den Berg, President and CEO of Mortgage Professionals Canada

10/23/2024

The Bank of Canada has just made a large interest rate decrease! The banks should be updating their rates to reflect the drop in the upcoming days so inquire as to how we can help with your purchase or refinance! Call or text 519-319-0246

11/21/2023

Official 2023 Community Voting Awards Platform for London, ON. Where the community votes for their favourites every year.

01/16/2023

Thank you to the West Lorne Comets U13 team for giving McCallum Mortgages - Real Mortgage Associates and McCallum Equipment Sales the opportunity to support these awesome kids with warm up suits!

09/28/2022

TOP 8 BENEFITS OF USING A MORTGAGE BROKER
General
Posted by: Mike Hattim
When shopping for a mortgage, many home buyers enlist the services of a Mortgage Professional. There are several benefits to using a Mortgage Broker and I have compiled a list of the top 8:

1. Saves you time – Mortgage Brokers have access to multiple lenders (over 50!). They work with lenders you have heard of and lenders you probably haven’t heard of. Because their relationship with lenders is ongoing, Mortgage Brokers know what is available in mortgage financing and will be able to advise you on what your lending options are without all the leg work that you would have to do in order to find a small percentage of information that a Mortgage Broker already has in hand.

2. Saves you money – Mortgage Brokers, if they are successful, have access to discounted rates. Because of the high volume that they do, lenders make available discounted rates that are not available directly through the branch of the lender that you go to.

3. Saves you from becoming stressed out! – It can be very daunting to find a mortgage. A Mortgage Broker takes on that stress for you. Your Mortgage Broker will make sure all the paperwork is in place. They will keep in good communication with you so that you know what is going on with your mortgage and will keep you up to date with any complications so that there are no surprises.

4. Gives you access to lenders that are otherwise not available to you – Some lenders work exclusively with Mortgage Brokers. In these circumstances, the layman does not have access to these lenders and, therefore, does not have the option to use discounted rates and mortgage products that these lenders offer.

5. Services are free – Mortgage Professionals are paid by the lender and not by you. This is not a disadvantage to you. A good Mortgage Broker will ALWAYS have the best interest of the client in mind because if you, as a client, are happy, you will go tell your friends about the service you’ve received from the Mortgage Professional you work with. Mortgage Professionals rely on referrals, which means that if you are a happy customer, and you got the best deal available, you will tell your friends and family about them which will result in referrals and potential future business.

6. Take on every challenge – As Mortgage Professionals, we see every scenario out there and work to make sure that every client knows what is available to them for financing options for a mortgage. Damaged credit and low household income might be a deterrent for the bank, but a Mortgage Professional knows how to approach the lender and has the relationship to make sure every client has a plan and strategy in place to make sure there is a mortgage in their future.

7. The Mortgage Brokerage industry is monitored by governing bodies – Nowadays, as Mortgage Brokers, it is extremely important to have principles and values that are based on the best interest of the client. In fact, in order to become licensed, the Mortgage Professionals need to be well versed in the ethical and upstanding values that are outlined through the Financial Institutes Commission, a provincial governing body that is a watchman for this industry. FICOM’s mandate is to make sure every Mortgage Broker walks in integrity and in the best interest of their client.

8. The Mortgage Broker has a better understanding of what mortgage products are available than your bank – Interestingly, a Mortgage Broker has to be licensed and cannot discuss mortgages with you unless they are licensed. This is unlike the bank who can “internally train” their staff to sell the specific products available from their bank. The staff at your bank do not have to be licensed Mortgage Professionals.

07/30/2018

What daily indulgences could you give up to save money for a home down payment? Swap a latte for a home brew? Take public transit rather than an Uber? This articles dives into the calculations.

When seeking advice on how to save up for a down payment, first-time homebuyers are often given one piece of advice: cut down on everyday luxuries. But how practical is this advice, really? Last year, the ... Read More

07/25/2018

If you have bad credit, there are options available for mortgage approval. This article takes a deeper look. You can also give me a call at any time to discuss your options! https://buff.ly/2KdWguV.

You had a few financial setbacks when life’s speed bumps tripped you up, but now you’re on the right path and are ready to take the leap into home ownership. The only problem is: you’re not ... Read More

07/23/2018

The most common reasons to refinance an existing mortgage are to consolidate debt, make home improvements, fund tuition and invest for retirement. I’m here to help make it happen, starting with a few key factors to consider.

Thinking about refinancing? McCallum Mortgages can do a comprehensive review of your entire financial situation to determine if refinancing is right for you

07/20/2018

London took the 9th place as the best place to buy property in Canada in 2018, according to MoneySense. What other cities made the list? Read them all here.

Brantford: This year's No. 1 city to buy real estate is affordable with a strong economy