Contact Darren Sharko to get your interest rates locked in while they’re still at historic lows! 📉💰

The Gist:

• Darren Sharko started in the mortgage business in 2003 and has had a very successful track record, being in the Top 10 Performance in Canada 5 different times as well as receiving the President’s Club recognition in Alberta a total of 8 times.

• Today, 25% of Darren’s business comes from repeat clients who have been so pleased with their experience that they recommend him to friends, family, colleagues, etc.

• At HACK&Co, we are getting our clients in touch with Darren all the time for preapprovals.

  • On the initial 20-minute call, Darren will first find out where you are at financially. This isn’t an exam and shouldn’t be intimidating, it’s just taking a peek under the hood to see exactly what you currently qualify for. Your financial situation does not have to be perfect, and if you aren’t happy with the number then you can start working with Darren to look for strategies that will allow you to qualify for more.

  • Darren will ask about your income, assets, and liabilities to figure out exactly where you are financially.

    • This is generally pretty straightforward. For salaried employees it just means grabbing a paystub, and even for the self employed all you usually need is your past two tax returns to get it figured out.

  • Being in the business for so long also allows Darren to anticipate any problems that may come up such as establishing credit, increasing downpayment, consolidating debt, etc.

  • The whole point of the preapproval process is to let you know exactly what you qualify for so that there’s no mystery by the time it comes to buying a home. If you’re preapproved for $450k but your budget is $350k, you know you have a bit of wiggle room.

    • A $10k increase in purchase price translates to about $50 per month.

    • If you find a house you like at your max budget of $350k, but find a house you LOVE at $360k, you can decide if that extra $50 per month is worth it while knowing you’re still within your approval.

  • Right now, the interest rates on mortgages are as low as they have ever been in the history of tracking rates, but they may start increasing as soon as April or May 2021.

    • If you’re thinking about buying in the next 120 days, getting a preapproval now will allow you to lock in the mortgage rate for no cost or commitment.

    • If you lock in a mortgage rate now and go out to look at homes in April, you will still get the rate you locked in today even if the rates rise by April. On the flip side, if the rates go down between now and April, you’re able to say goodbye to your rate hold and use the lower rate.

    • As the economy starts to pick up, the Bank of Canada will start increasing the mortgage rates by quarter percentages at a time. How fast the rate increases is related to how quickly the economy picks up.

  • What a lot of people don’t realize is that if you want an RBC mortgage, you actually have to deal with RBC — Independent mortgage brokers do not have access to the RBC suite of mortgages, so make sure to check out all of your options.

🛑 Attention First Time Home Buyers! 🛑

On February 10th between 5:30-6:30pm, Darren Sharko and Taylor Hack will be hosting a First Time Home Buyer’s Event with all the information you’ll need to get into the market.

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