The power of three

by Paul Therien on Monday, September 21, 2020

As consumers we often do our best to investigate our options before we make a purchase. We window shop, do online research, and we ask for the opinions of friends, colleagues and often will seek the expertise of a professional. The amount of advice we seek is linked directly to the value, or size, of the purchase we are making. The bigger the purchase, the more research we do… or at least should do.

This makes complete sense no matter how you look at it. Large purchases bear greater risk if it turns out that we make the wrong decision. Large purchases, like a car or a home, are ones that we have to live with for longer and are more difficult to recover from in the unfortunate event that there are issues with the purchase. So, when we make these large purchases we rely heavily on the professionals to help us make the best decision.

When we are buying a home, we have the ability to shop online and we use a Realtor to help us find a property that fits our short and long-term needs. A good Realtor asks us questions about our lifestyle, goals, and future plans so that they can help us find a home that ticks as many of the boxes as possible. They use their expertise and they present us with viable options until we find the one that is ‘just right’.

When it comes to finding a mortgage to purchase that home however, it gets far more complicated. With over 40,000 different mortgage products available from over 400 lenders in Canada it is at best a daunting task when trying to figure it all out. As a result, most consumers simply go to their local bank, credit union, or mortgage broker and rely on the advice that they receive to make a decision. The challenge is that too often we do not get all of our options presented to us and that can lead to problems down the road.

A mortgage is much more than just a financial transaction that allows us to buy a home. It is an investment vehicle that provides us with the opportunity to secure our future, create wealth, and provide shelter to our loved ones. A mortgage allows us to buy an asset that would otherwise be unattainable, and it facilitates our ability to ‘live the dream’ of home ownership.

We believe in the power of three. That is, we give you three options to choose from so that you can have all the information you need to make an informed decision. Through our application process we know what lenders, and products, you qualify for and we present you with those options in a clear manner. We want you to know what lenders you qualify with, what products they offer, and what are the benefits… and drawbacks… to each. That way when you are planning for your future you can be more confident knowing that you have the right home financing.

We would like to believe that every mortgage professional in Canada provides you with the same power of choice, but the reality is very different and that is why Haystax exists today. Consumers, you, deserve choice. You deserve to know what your options are and you deserve to be able to have discussions with your advisor about those options.

We hope that you will choose to use Haystax for your financing needs, but if you don’t we understand. Just make sure that whoever you deal with gives you no less than three lenders and products to choose from, as well as presents you with scenarios that help you better achieve your financial goals. If they don’t… well... Haystax is always here to provide you with the service you deserve.