When people buy a home, it’s often associated with some major life event such as the birth of a child, a marriage or retirement.
Scott Wambolt,
Senior Vice President,
Mobile Sales Force, Retail Distribution
and Channel Strategy at CIBC
When it comes to choosing the right mortgage, what is the single greatest challenge that homebuyers face today?
The most common challenge that our mortgage advisors find themselves responding to among our clients is simply a time crunch. When people buy a home, it's often associated with some major life event such as the birth of a child, a marriage or retirement. There is usually a lot going on and searching for the right home can take a lot of time.
That's why our clients really appreciate the fact that we'll meet with them on their own schedule and in a location of their choosing. And because our advisors can offer more than just mortgage advice and mortgage solutions, they are able to help with other needs our clients may bring to the table, sometimes by connecting them with our branch staff. Things like a line of credit, for example, so that once they're in the house, they're able to furnish it, or consolidating their credit cards to one card to maximize their ability to collect travel points or other rewards and manage their payments
But there are a lot of other common issues that people run into when applying for a mortgage or refinancing, which is why we suggest getting in touch with one of our mobile advisors the moment you start thinking about buying a home.
A conversation with a mortgage advisor can help you understand what kind of home you can afford, both in terms of the amount of the mortgage you'll qualify for and how the mortgage payments will affect your cash flow. It will also help identify any issues that need to be resolved, such as saving for a larger down payment or improving your credit score, so that you have time to address them.
To find the right mortgage, it's essential to think beyond the rate. What happens to your mortgage if you're transferred in your job and need to sell your home before your mortgage renewal date, for example? Our advisors are able to offer competitive rates, but they will also walk you through other aspects of the mortgage that may ultimately make a much bigger difference, such as payment flexibility.
The value our mobile mortgage advisors deliver to our clients really comes down to the convenience and the breadth of product advice they can offer. They'll meet with you in the location of your choice, at the time you prefer, often in the language with which you're most comfortable. Our mobile service is designed to make it as easy as possible for busy people to get the best mortgage for their needs.