The Last thing a Realtor wants to see is…. “put an offer in on a house, to find out that the deal fell apart due to financing” … has this happened to you?

This seems to be the number 1 issue with my Realtor friends in the London and surrounding area…. if this hasn’t happened to you, then prepare ahead, because I see this more and more each week !…… here’s a 6 minute video that can help you.

Click here to link to my YouTube channel


Here’s the Best question you can ask to prepare yourself and see just how concrete your clients “Pre-Approval” is ……
Realtor:  “So I assume you are Pre-approved before we go house shopping? ”

Clients:   ” Yes, ______ Bank said I could look for $350,000

Realtor:  “Can I ask.. I always wonder what is best… are you pre approved for a Fixed or a variable rate Mortgage?”


If your client does not know the difference, then…DING DING DING , raise a RED flag!!…. Here’s why…

5 Year Fixed rate for qualifying is 3.89% (ish)

5 Year Variable rate for qualifying is 5.39% …. ( New Rule from Canadian Gov March 18 2011, must use BofC current MQR )


So… What does this mean?… here’s an example….

If a client makes $60,000 salary…. a 5 year fixed buys him a $265,000 house, but a 5 year Variable, he can only buy for $235,000

Now honestly ask yourself…. if your client doesn’t know this before you start showing him/her houses, well … what is your time worth ?