With a flurry of federal government changes in the past year, and more coming, it’s more important than ever to have a knowledgeable person on your side to help traverse the shifting waters of home ownership.
And with 15 years of experience in mortgages, Dean Dimmick of RBC Royal Back in North Battleford, having experience on your side is more important than ever.
Recently named Best Mortgage Broker for the 2017 Best of the Best Awards, Dean said recent federal changes to “Stress Tests” on mortgages means the whole real estate spectrum is shifting.
“With all the government changes and regulations, and there is countless hundreds in the past few years, it is impacting how people qualify,” said Dean.
Over a year ago, people could qualify for much larger home purchases, but with the new government stress test, some people may qualify for less now, which is why it’s important to meet with Dean to see what your options are, and if those options have changed due to new regulations.
“We’re going to see a longer purchasing process with people to navigate through those changes. Years ago, very few would come for pre-approval, and now most are and need to,” Dean added.
But as mortgages are his only speciality, Dean said he can dig deeper into how and why people qualify, and is there to ensure people fulfill their dream of home ownership.
“There’s been a lot of changes, but that’s our role: to understand that and the impact. For the most part, a good transaction is seamless. Our role is to take away the stress and find a way to make it happen,” said Dean.
And as mortgages change, so does the role that Dean plays, including ensuring a client is looking at their overall financial picture.
“Now we have to sit down and see what their goals are, so it’s more long-term planning. I also work with various team members as well to look at all aspects of your financial picture,” explained Dean.
Dean and the team at RBC offer various types of mortgages to purchase your home, will help switch your mortgage over, look at refinancing, financial planning, debt planning and much more.
Even though it can be a complicated and changing area, Dean and the team at RBC are there to help and realize the importance of what a mortgage represents.
“There’s a lot of passion here. We enjoy getting people into their homes. We really enjoy seeing people realize their dream of getting into a house.”
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