Five Things I Wouldn't Do As a Mortgage Broker on My Own Mortgage

Josh Perez • August 7, 2024

Hi, I'm Josh Perez, and today I want to share some insights based on my experience as a mortgage broker. Navigating the mortgage process can be complex, and there are certain pitfalls I'd avoid if I were securing a mortgage for myself.



Here are five things I wouldn't do:

"Don't wait until you think you're ready, you need help getting ready. Work with an experienced mortgage professional to help you uncover what you don't know in the homeownership or investing process."

1. I Wouldn't Shape My Entire Plan on the Lowest Rate

While it might be tempting to chase the lowest interest rate, building a mortgage plan should be about more than just numbers. I’d focus on what’s important to me, like the neighborhood, price point, down payment availability, and future plans for moving, selling, or refinancing. Once I have these criteria set, I'd then find the best rate that fits within this framework.


2. I Wouldn't Rely Solely on Online Calculators

Online affordability or pre-approval calculators can be a good starting point, but they're no substitute for expert advice. I wouldn't make decisions based solely on these tools without consulting an experienced mortgage broker. They can provide a more nuanced and comprehensive analysis tailored to my unique financial situation.


3. I Wouldn't Limit Myself to One Bank

Going to just one bank and accepting their opinion, advice, and pre-approval can be limiting. Banks are one lender with one set of policies and criteria. Most bank employees might not have the extensive experience needed to deeply understand your financial picture and homeownership goals. A mortgage broker, on the other hand, works with dozens of lenders and can find options that best fit your criteria.


4. I Wouldn't Try to Time the Market

Trying to time the market for the perfect rate drop or price dip is nearly impossible, much like predicting the stock market. Instead of waiting for ideal market conditions, I would focus on changing my personal conditions. Building and refreshing a plan that works best for my situation is more practical and productive.


5. I Wouldn't Wait Until I Think I'm Ready

You don’t have to have everything figured out before seeking professional help. An experienced mortgage professional can help you uncover unknowns in the homeownership or investing process. The best advice is to start before you’re ready. They can walk you through the entire planning process, even if your goals are 12 to 18 months out. Often, people are much closer to their milestones than they initially think.


In conclusion, working with a knowledgeable mortgage broker can make a significant difference in your home-buying journey. They provide tailored advice, offer a broader range of options, and help you build a flexible and realistic plan. Don’t hesitate to seek professional guidance early on—it could bring you closer to your homeownership dreams faster than you think.

Josh Perez
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New to Credit? Let’s Build a Solid Foundation

By Josh Perez • September 24, 2025
Starting from Scratch: How to Build Credit the Smart Way If you're just beginning your personal finance journey and wondering how to build credit from the ground up, you're not alone. Many people find themselves stuck in the classic credit paradox: you need credit to build a credit history, but you can’t get credit without already having one. So, how do you break in? Let’s walk through the basics—step by step. Credit Building Isn’t Instant—Start Now First, understand this: building good credit is a marathon, not a sprint. For those planning to apply for a mortgage in the future, lenders typically want to see at least two active credit accounts (credit cards, personal loans, or lines of credit), each with a limit of $2,500 or more , and reporting positively for at least two years . If that sounds like a lot—it is. But everyone has to start somewhere, and the best time to begin is now. Step 1: Start with a Secured Credit Card When you're new to credit, traditional lenders often say “no” simply because there’s nothing in your file. That’s where a secured credit card comes in. Here’s how it works: You provide a deposit—say, $1,000—and that becomes your credit limit. Use the card for everyday purchases (groceries, phone bill, streaming services). Pay the balance off in full each month. Your activity is reported to the credit bureaus, and after a few months of on-time payments, you begin to establish a credit score. ✅ Pro tip: Before you apply, ask if the lender reports to both Equifax and TransUnion . If they don’t, your credit-building efforts won’t be reflected where it counts. Step 2: Move Toward an Unsecured Trade Line Once you’ve got a few months of solid payment history, you can apply for an unsecured credit card or a small personal loan. A car loan could also serve as a second trade line. Again, make sure the account reports to both credit bureaus, and always pay on time. At this point, your focus should be consistency and patience. Avoid maxing out your credit, and keep your utilization under 30% of your available limit. What If You Need a Mortgage Before Your Credit Is Ready? If homeownership is on the horizon but your credit history isn’t quite there yet, don’t panic. You still have a few options. One path is to apply with a co-signer —someone with strong credit and income who is willing to share the responsibility. The mortgage will be based on their credit profile, but your name will also be on the loan, helping you build a record of mortgage payments. Ideally, when the term is up and your credit has matured, you can refinance and qualify on your own. Start with a Plan—Stick to It Building credit may take a couple of years, but it all starts with a plan—and the right guidance. Whether you're figuring out your first steps or getting mortgage-ready, we’re here to help. Need advice on credit, mortgage options, or how to get started? Let’s talk.

Bank of Canada Rate Announcement Sept 17th, 2025

By Josh Perez • September 17, 2025
Bank of Canada lowers policy rate to 2½%.  FOR IMMEDIATE RELEASE Media Relations Ottawa, Ontario September 17, 2025 The Bank of Canada today reduced its target for the overnight rate by 25 basis points to 2.5%, with the Bank Rate at 2.75% and the deposit rate at 2.45%. After remaining resilient to sharply higher US tariffs and ongoing uncertainty, global economic growth is showing signs of slowing. In the United States, business investment has been strong but consumers are cautious and employment gains have slowed. US inflation has picked up in recent months as businesses appear to be passing on some tariff costs to consumer prices. Growth in the euro area has moderated as US tariffs affect trade. China’s economy held up in the first half of the year but growth appears to be softening as investment weakens. Global oil prices are close to their levels assumed in the July Monetary Policy Report (MPR). Financial conditions have eased further, with higher equity prices and lower bond yields. Canada’s exchange rate has been stable relative to the US dollar. Canada’s GDP declined by about 1½% in the second quarter, as expected, with tariffs and trade uncertainty weighing heavily on economic activity. Exports fell by 27% in the second quarter, a sharp reversal from first-quarter gains when companies were rushing orders to get ahead of tariffs. Business investment also declined in the second quarter. Consumption and housing activity both grew at a healthy pace. In the months ahead, slow population growth and the weakness in the labour market will likely weigh on household spending. Employment has declined in the past two months since the Bank’s July MPR was published. Job losses have largely been concentrated in trade-sensitive sectors, while employment growth in the rest of the economy has slowed, reflecting weak hiring intentions. The unemployment rate has moved up since March, hitting 7.1% in August, and wage growth has continued to ease. CPI inflation was 1.9% in August, the same as at the time of the July MPR. Excluding taxes, inflation was 2.4%. Preferred measures of core inflation have been around 3% in recent months, but on a monthly basis the upward momentum seen earlier this year has dissipated. A broader range of indicators, including alternative measures of core inflation and the distribution of price changes across CPI components, continue to suggest underlying inflation is running around 2½%. The federal government’s recent decision to remove most retaliatory tariffs on imported goods from the US will mean less upward pressure on the prices of these goods going forward. With a weaker economy and less upside risk to inflation, Governing Council judged that a reduction in the policy rate was appropriate to better balance the risks. Looking ahead, the disruptive effects of shifts in trade will continue to add costs even as they weigh on economic activity. Governing Council is proceeding carefully, with particular attention to the risks and uncertainties. Governing Council will be assessing how exports evolve in the face of US tariffs and changing trade relationships; how much this spills over into business investment, employment, and household spending; how the cost effects of trade disruptions and reconfigured supply chains are passed on to consumer prices; and how inflation expectations evolve. The Bank is focused on ensuring that Canadians continue to have confidence in price stability through this period of global upheaval. We will support economic growth while ensuring inflation remains well controlled. Information note The next scheduled date for announcing the overnight rate target is October 29, 2025. The Bank’s October Monetary Policy Report will be released at the same time.