Mortgage, Loans and Investments
Interviewed: Deborah da Silva
By: Desiree Roper
A positive experience for first time home buyers
Honest, trustworthy and personable are key elements you want when looking for someone to guide you along with your first time home buying experience.
With twenty-one years under her belt as a Financial Advisor with one of the big banks and two years as a Mortgage Agent, Deborah da Silva, Accredited Mortgage Professional with Real Mortgage Associates, provides the experience as well as the personal touch that every first time homebuyer is looking for.
“I enjoy meeting and talking to people so I can have a better understanding of them as a person and what they need in terms of mortgage financing.” Deborah said, Accredited Mortgage Professional for Real Mortgage Associates.
Along with helping clients with mortgages, she educates first time home buyers through seminars.
It can get a bit tricky when it comes to clients who have a bruised credit but Deborah looks at each client’s financial situation which includes down payment, credit score and income sources to determine which lender will look at the mortgage application. In some situations she can find them mortgage financing but if they do not have much money saved on their own and credit score is low, she offers free advice on what they can do to improve their credit score so they will be approved in the future.
Another challenge faced by many clients can be saving the down payment, especially if they are paying rent that may be equivalent to a mortgage payment. In situations such as this, Deborah will recommend that they apply for an RRSP loan, which will help them with their down payment and ultimately force them to save for their retirement.
The proceeds of the RRSP loan are deposited into an RRSP, where the money must stay for a minimum of ninety days. After that, it can be withdrawn tax-free for first time homebuyers and put towards the down payment of a home.
With the current economic situation, many people are reluctant to purchase a home because they are either worried about their own job stability or they think home prices are going to go down even further and they want to wait. However, despite the unstable economy, Deborah said, “It’s on the road to recovery and it’s an excellent time to purchase a home or consolidate debts because interest rates have never been this low.”
Deborah continues to educate herself and with her many years of experience she can give up-to-date information to her clients. Every lender has slightly different rules so with Deborah’s experience and knowledge she always keeps her clients informed.
One of Deborah’s most rewarding situations was when she received approval for her son and daughter-in-law to purchase their first home when he was only 23 years old.
It was very positive for her to see what she describes as his “happy dance” first hand when she gave them the good news.
Deborah keeps updated with the ever-changing financial world by regularly attending seminars and workshops put on by the various lenders, CMHC and Genworth.
“I work for my clients, not a particular lender,” Deborah said. “My services are free of charge and I am paid a finder’s fee by whichever bank I choose to send the mortgage to, upon closing of the mortgage.”
Deborah has a flexible schedule so that she can accommodate her clients according to their schedules.
She follows up with her clients on a timely basis and is always available for questions even after the mortgage closes.
At the end of the day, working with first time homebuyers is most rewarding for Deborah. “It’s exciting to purchase your first home and I like to share in my clients’ excitement,” She said. “Since the process can be confusing and overwhelming, I like to assure my clients that they can call me anytime
with any questions they have. It’s important to me that they understand the process and what needs to be done for a smooth closing day.”
Deborah da Silva, CFP, AMP
Accredited Mortgage Professional
License # M08003115
Real Mortgage Associates
Broker # 10464
Phone: 905-239-3485
Fax: 1-866-591-2405
Email: Deborah@yourmortgagesource.ca
www.yourmortgagesource.ca 