In 2011, the National Housing Survey of Canada confirmed that 69% of Canadians own the place that they are living in. Out of the 69% who are homeowners, 25.2% of them are using up more than 30% of their household income to pay for their mortgage and household expenses. Therefore, it is quite obvious that buying a house is one of the biggest purchases in our lives. However, not all people educate and familiarize themselves with the mortgage market before purchasing a home. This is the main reason why I chose to interview my mentor, an experienced mortgage broker; to explain to new or aspiring mortgage brokers the importance of educating our clients and capitalize on the continuous growth of real-estate market as well. Regardless of his busy schedule, Jeremiah, mortgage broker from Mortgage Alliance Winnipeg, allotted his time to provide helpful information for this interview. He has been an insurance broker and a mortgage broker for almost 10 years. His knowledge for the business is remarkable. His experiences can give us a better picture of the everyday struggles and success of this business. .
People have different reasons on why they choose to pursue a certain field of career. For Jeremiah, the initial motivation was to give financial literacy to the Filipino community. He was dissatisfied that big financial institutions were taking advantage of the unawareness of this community. Moreover, as he grew more interest on the matter, he also realized that it is not only the Filipino community that needs financial literacy, but different minorities and even Canadian-born as well. Therefore, he decided to become a Mortgage Broker and help out the Manitoba community. Jeremiah explained that Mortgage Brokers are the middleman that facilitates a deal between a lender and a client. They are responsible for reviewing client's financial situation and tailoring the best mortgage advice they can provide.
