Preview Mode Links will not work in preview mode

This is the stuff you millionaires in the making need to know to kick start or propel you on your financial fitness journey. Tracey Bissett, Founder of Bissett Financial Fitness and award winning Financial Literacy Champion, gives you the straight goods each week to set yourself up for financial success. As a former executive at TD Bank, one of Canada's Big 5 Banks, Tracey has worked with and in support of thousands of individuals and entrepreneurs to secure the financing they needed.  This hands on experience combined with her formal financial education, Masters of Business Administration and Chartered Financial Analyst designation, position Tracey uniquely to coach all things money. Tracey goes behind-the-scenes of all the money matters with need-to-know tips, money-making demystified, and special power-player interviews. Join us weekly for Financial Fitness Training that will turn even a Cash Couch Potato into a Marathon Money Maker.

  1. All Episodes
  2. EP027 What is a Mortgage Broker with Leanne Myles

EP027 What is a Mortgage Broker with Leanne Myles

Apr 10, 2018

Leanne Myles is currently among the Top 20 brokers with Premiere Mortgage Centre and was one of the finalists at the 2017 Canadian Mortgage Awards for Best Alternative Lending Mortgage Broker of the Year.  Leanne is not only passionate about helping her clients but also in giving back to her community as she raises funds to pay for mortgages of sick people who are undergoing treatment.

Leanne joins me today to share what a mortgage broker does and how they get paid. She talks about how she overcame negative feedback from family and friends in her decision to shift careers from salary-based to commission-based. She also shares how to best prepare if you’re going to work with a mortgage broker and tips for first-time homebuyers.

 

“We fit the client with the appropriate lender - not the other way around.” - Leanne Myles

 

This Week on Young Money:

  • What mortgage brokers do
  • Why her shift from a salary-based job to a commission-based career is the biggest turning point in her life
  • Financial matters she wishes she knew when she was younger
  • What bruised credit is
  • How she determines the right product for clients
  • How to work with a mortgage broker
  • What clients don’t know about getting a mortgage from a bank
  • Open Mortgage vs. Closed Mortgage
  • Impact to homeowners based on the recent change in mortgage rules
  • How mortgage brokers get paid
  • Tips on how to have a good relationship with your mortgage broker
  • How to check your credit score aka your financial reputation

 

Key Takeaways:

  • Bruised credit does not mean a bad person. It means somebody who’s been through a major life event.
  • Make sure you have the right mixture of credit.
  • Take responsibility for your credit reputation.
  • If you’re considering buying a home, you need to start a savings account and understand your income and cash flow.
  • Home ownership is more than the mortgage payment.
  • Be honest and upfront with your broker about your financial standing.

 

Connect with Leanne Myles:

 

Rate, Share & Inspire Other Young Millionaires-in-the-Making

 Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to iTunes and leave us a rating and review. Don’t forget to share your favorite episodes on social media!

 Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our Linkedin Company Page, or by visiting our website.