June Newsletter 2019
Posted on: 2019-05-31
Why early payout penalties matter now more than ever.
We are deep in the competitive spring real estate market! And we’re seeing a very interesting rate anomaly. Fixed-rate mortgages are very competitively priced and gaining in popularity, while variable-rate mortgages are looking overpriced. We’re even seeing ten-year mortgages at good rates back in the news. If the market is telling us that fixed-rate mortgages have an advantage, then be sure to look at the fine print because the devil is in the details and early payout penalties matter.
Why? Sometimes you just need to get out of your mortgage! It’s impossible to plan for many of the things that will happen in our lives, like job loss, illness, divorce, relocation, or another personal matter. Or when much better mortgage rates become available. Your needs and the market can shift easily during the term of your mortgage and the last thing you want is a painful penalty to get out early. That’s why it’s important to consider what your early payout penalty may be before you get your mortgage. We all want to believe that none of these scenarios will transpire, but when they do, it’s a relief to have a cost-effective option to get out.
Generally, to break your mortgage, you can expect to pay the greater of either a) three months’ interest, or b) the interest-rate differential (IRD). With the IRD, your mortgage lender will want you to pay the equivalent of what they will lose by releasing you from your mortgage and lending the money at current rates. Not all lenders calculate IRD the same way, and the differences can amount to thousands or even tens of thousands of dollars.
Early payout penalties are particularly important to consider if you are looking at a 10-year mortgage. If you break a 10-year mortgage before 5 years, the penalty with most lenders can be substantial. If there is a chance you could break the mortgage in the first 5 years, you may not want to consider a 10-year term.
Don’t let anyone tell you early payout penalties are “all the same”. They’re not. When choosing between mortgages, be sure to compare how the early payout penalty will be calculated. If you ever need to get out of your mortgage early, having the right mortgage could save you stress and big money. Advice on how to avoid painful penalties is part of the service I provide to my clients every single day!
Good Debt vs Bad Debt
Good debt is manageable debt that can bring you close to your financial goals. It includes a well-structured mortgage, or borrowing to invest when it is designed to improve your overall financial position. Bad debt gets in the way of building long-term wealth, and creates an ongoing burden that ranges from uncomfortable to crippling. It includes credit cards, high-interest loans, and “buy now/pay later” purchases. If you’re borrowing a large amount for any reason, including organizing your current debt, please let me know. You may be able to look to your mortgage for your lowest cost funds.
Mortgage Broker, MBI
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I had just moved back to Canada after 15 years living and working overseas, I did not have much of a credit rating or a registered income. I wanted to purchase a condo for rentals, but had issues getting a mortgage from my bank. My sister suggested that I contact Shannon Mayhew to see if there were other options. I was able to get a very competitive rate mortgage for my condo that fit my needs perfectly. She made everything very easy and straightforward and explained the entire mortgage process step by step. Which was important to me because this was my first property purchase in Canada and I was unfamiliar with the mortgage process. Shannon Mayhew is a hardworking, very professional mortgage broker, that works hard to find the best mortgage to fit your requirements. I would defiantly suggest friends and family to work with her.
Shannon Mayhew is an extremely knowledgeable and earnest person who keeps your interest at the forefront. She's open and upfront about the information and services that she is able to provide for us and works quickly to get all the paperwork out of the way so that we can reach our home owning goal as soon as possible. She is patient and organized in explaining our options and answering our questions. This allowed us to make our decisions with the best informed frame of mind and without being pressured into making poor decisions. Knowing that even after helping us with establishing our lender, she would be available to help us in the future should we have any questions, gives me great assurance moving forward. I would not hesitate for a moment to recommend her as my immediate first choice for her services.
Thank you very much Shannon for all of your help with our mortgage. Your attention to detail and responding to us day and night was very appreciated. You made the process easy!
Carolyn and Hank
Shannon's level of communication was great. She was easy to reach, patient to explain and available when we needed to meet. She is a friend that helped us find the best rate for our latest mortgage. The service level is exceptional and I would be very likely to use her again in the future.
We had our mortgage & a LOC with one of the big financial institutions, we first purchased our home 15 years ago and frankly it became evident they didn't care about us as people, even when we were heading for renewal and told them to bring their best game as we were working with a broker, they still didn't offer a more competitive rate. After meeting with Shannon , We came away with a much clearer understanding of our options, and were able choose what was best for our family. We felt like we'd really been taken care of AND we got a fantastic rate!!!! The fact that I know Shannon as a friend and team-mate gave me total trust in her. I loved that she came to our home and we were able to discuss our situation with her at our own dining room table! She spoke in terms that were understandable to us about our lives and our family! She demonstrated a thoughtful and sincere caring for our family and our future! I have recommended Shannon to several people already and I tell them that they owe it to themselves and their family to meet with her and see what you have to offer.....I tell them they will experience sincere and personal attention to their financial situation and that I KNOW she will do the very, very best for them that you possibly can!
Lesley & Greg
I was referred to Shannon by a friend and was impressed by her attention, follow through and follow up. Shannon is very knowledgeable with current market conditions and future trends. She provides fantastic customer service and I wouldn't hesitate to recommend her.
There was four of us involved in purchasing a property. The biggest challenge we faced was how to deal with the financing as a group. We needed to know what we could afford to purchase BEFORE we actually found something. We needed to know what additional expenses we would be facing and where our financial limits would be. When we found the property we ultimately purchased, our financing was in place. We did not have to worry about anything. Shannon made things easy for us. She came to our homes to firstly explain everything to us, then again to complete the paperwork. She was well organized and a pleasure to deal with. Shannon Mayhew is a very experienced Mortgage Broker who will do her very best to obtain the very best results for you.
My file was very challenging because I was forced into bankruptcy a few years ago which included a foreclosure on a property. However despite those challenges, she was able to get me 95% financing on a condo! Throughout the process she was very kind and caring. She listened to all my concerns and at no time did she judge me. She always responded to me in a very timely manner and was willing to talk to me any time of day. Shannon Mayhew is a great mortgage broker. She will go above and beyond and do everything she can to get a Mortgage for you. She treats all her clients like they are the only one. She continually keeps you updated on the progress and doesn't make you wait. She is very compassionate. I would definitely recommend that a friend work with her. -Linda
It was a pleasure dealing with Shannon! She took time to explain the process, requirements and answered all our questions in a very prompt manner. She sat us down and discussed the various types of mortgages and helped understand our situation to find a mortgage that best fit us. She then went out and got us a phenomenal rate with one of the top banks! Shannon stayed in touch throughout the process, sending reminders to ensure we didn't forget an item that was pending, and ensured that we knew what was happening every step of the way. She helped make the process of obtaining a mortgage seamless and stress-free, so much easier than running around from bank to bank trying to do it yourself. Thanks Shannon!
With a growing family, we wanted to move from our condo in New West to larger townhouse with a backyard so the kids could play safely outside. My wife is a stay at home mum and we could only afford a larger place by renting out our current condo and leveraging the equity and rental income to reduce the mortgage payments on the new place. Our current bank(RBC) was unable to approve us for a second mortgage and insisted that we sell our condo to afford the new place. this would also have meant my wife would have had to go back to work and our kids into daycare which is not something that we wanted. My wife found Shannon via the New West moms facebook group. Shannon was able to refinance our current property and also arrange for a mortgage on the new place. The mortgage is with TD and once our condo is rented our monthly housing cost will actually be cheaper for both places than it was for just our condo. We have never actually meet Shannon in person. We were able to get everything done via email and telephone which was great as we only had a week to sort it all out before leaving the country for 6 weeks. She was able to get us the financing we require with a major bank when our current bank mortgage manager couldn't. Michael
Shannon has been beyond helpful and I don't think I would have been able to buy a house without her assistance and persistence! She was receptive to any questions and would get back to me asap, for anything and everything I asked her. Without reservation, I highly recommend Shannon in assisting you with your mortgage needs. Dr. Imperial
We started working with Shannon to change our existing mortgage to a line of credit mortgage. Shannon did a fantastic job and worked out an excellent plan for us. John is self-employed, which always makes it more of a challenge to change financing plans - Shannon was the only one who could get a new one approved for us. She was fast and accountable, and was very patient with us as we figured out what paperwork the banks needed :) Shannon is an excellent communicator, and sends regular emails so you always know how things are progressing. When the new mortgage was approved, she took the time to explain everything clearly, and was available whenever we needed to talk to her or ask questions. She also communicated directly with the lawyer and our financial planner, so everyone concerned knew what was going on, timelines etc. She even checked with our financial planner (who referred Shannon to us), to make sure the plans she was investigating fit his overall plan for our financial future before she made a final decision as to which plan to use. We know that Shannon will be available to help us in the future if we have questions or to help us if our situation changes and we need to adjust the mortgage, which makes us feel very secure. We would highly recommend Shannon over any other Mortgage Broker - she is the best!
Emma and John
As a family with two working professionals, finding time to research mortgage options and/or wade through legal documents can be very difficult. Shannon simplified and walked us through the entire new home purchase process and provided an exceptional level of professionalism and service. Shannon not only made herself available during evening hours to fit our schedule but also provided frequent, clear communications on where we were in the process and outlined exactly what was required from us next. Shannon was extremely easy to work with and we would not hesitate to recommend her as a mortgage broker.
Neal and Melinda
Shannon was an absolute professional from start to finish in the purchase of our new home! Her patience, expertise, and friendly nature made the process much easier and less stressful. She was creative in finding the best available option for us with our mortgage. We would love to recommend Shannon to anyone looking to secure a mortgage for a new home.
Nicole and Craig L
'Shannon is the most efficient mortgage broker we've ever worked with! My husband and I were looking for a mortgage lender for a real estate property, and several banks had already declined our application because of the number of loans we already had. We had almost given up when we found Shannon. We're completely amazed when she got our mortgage pre-approved within a couple of days! She's extremely fast, highly organized, and gets results when no one else can. Best of all, she delivers exceptional customer service! Not only did she prepare a detailed checklist of things we need to complete before the possession date, but she also stayed with us EVERY step of the way, sending reminders and making sure we knew what to expect. Her expertise in the business and her diligence and attention to detail helped make the experience less stressful and allowed us to purchase the property that we loved! She exceeded all our expectations! We'll look to her again for our future mortgage needs and would not hesitate to recommend her to anyone who's in need of a new mortgage. Thanks Shannon!'
We contacted Shannon on my brother's recommendation and are so thankful we did. Though we live in Prince George, through emails and phone calls, she gave advice on what financial service she thought would be best for us, and guided us through the process of obtaining a mortgage line of credit. All emails/questions were answered promptly and clearly, and always followed up to make sure everything was going smoothly. I highly recommend Shannon!
I had absolutely the best service from Shannon! She found me the best mortgage rate that my previous lender could not even match. She was also super quick to respond to all my questions and could provide me with various mortgage options in an understandable way. She saved me a ton of money and for that I'll be forever grateful. I would recommend talking to Shannon about any of your mortgage needs. Thanks so much for everything, Shannon. You helped me tremendously!
Shannon has been such an amazing resource for our family. We have worked with her on two separate properties and both times she was professional and knowledgeable. She has been a great communicator with us, our Realtor, Lawyer and Financial Advisor and made every step easy and stress-free. We recommend her to everyone and will continue to do so. Thank you Shannon
Alicia Renee Worobec
Having just returned to Canada after many years out-of-country and being newly self-employed, I was concerned about securing financing for a home purchase. Shannon did a fantastic job and made it happen! She was very knowledgeable and a pleasure to work with.
Working with Shannon was an absolute pleasure! She truly went above and beyond! As a first time home buyer, Shannon was extremely attentive, informative, and made sure we knew exactly where we were in the process. She made us feel 100% confident and at ease with the entire process and our decisions. Thank you Shannon for making this experience so positive!
This is actually my 3rd time using Shannon and she doesn't disappoint. Easy to work with! I highly recommend her!
This was our second time using shannon and once again she was extremely helpful and knowledgeable. She was able to increase our mortgage approval amount so that we could get the place we wanted, while keeping our current property as a rental. I would highly recommend using shannon if you're trying to get approved for a mortgage
Had an absolutely wonderful experience with Shannon, she is absolutely wonderful. She was attentive, honest and over all so extremely knowledgeable. I was on a pretty severe time restriction when dealing with my mortgage but Shannon helped make the stress as easy as possible. She helped me figure out what the best possible option for me was. She was wonderful! Would highly recommend her to anyone.
Brianne Marie Dyck
Shannon was so easy to work with and so accomodating to our busy schedule. She is very knowledgeable and got our refinancing done quickly, easily, with superb rates, and efficient/knowledgeable notary and bank contacts. We highly reccommend her to our friends and would use her services again!
Athanasia and Alex
As recent transplants from Manitoba to BC, we were very concerned about the mortgage process here. Having said that, dealing with Shannon as our mortgage broker was a walk in the park. She took care of all the mortgage arrangements, detailing what we needed to do while explaining everything to our satisfaction. We were most impressed and recommend Shannon and her services highly. Craig and Leslie Winchar
Craig and Leslie Winchar
It was a pleasure dealing with Shannon! She took time to explain the process, requirements and answered all our questions in a very prompt manner. She sat us down and discussed the various types of mortgages and helped understand our situation to find a mortgage that best fits us. She then went out and got us a phenomenal rate with one of the top banks! Shannon stayed in touch throughout the process, sending reminders to ensure we didn't forget an item that was pending and ensured that we knew what was happening every step of the way. She helped make the process of obtaining a mortgage seamless and stress-free, so much easier than running around from bank to bank trying to do it yourself. Thanks Shannon! Tyler
Shannon provided us with exactly the help we needed. For example, she coached us through all the details of purchasing a new home, she provided us with to-do lists to keep us organized, she responded to emails and questions almost instantaneously, and she secured us an excellent mortgage rate. She even provided her services during evenings and weekends and over the phone or by email so that I didn't have to spend time driving to appointments or miss work. I could not have asked for a better experience. Sincerely, Allan
My husband and I had a wonderful experience working with Shannon Mayhew in refinancing our home mortgage. From beginning to end, she was professional, informative, extremely thorough and attentive to our financial needs, thus making sure that we were getting the best deal possible. This is our second experience working with Shannon, she also helped our son out with his first mortgage and we would highly recommend Shannon. Paul & Lorie
Paul and Lorie
The mortgage experience can be a stressful one, but Shannon's ability to simplify the process, communicate clearly and convey our options in a way that is easy to understand was a huge help for us and we could not be more happy with the end result. She goes well beyond the call of duty and has a true passion for what she does, which for us was of great significance. We were very lucky to have been referred to her and look forward to the next time.
Shannon Mayhew is an excellent mortgage broker. She is professional, prompt, available, communicative, and cheerful. She helped make the process of buying our first home much less stressful. She took the time to explain things to us, sometimes a second or even third time, and was always patient and kind. She was available to answer our calls pretty much any time of the day and always called us back quickly if she missed our call. Shannon took the time to ensure that we felt valued--we even had our bank rep tell us that he felt our mortgage broker was looking out for us in a way that most don't. This was because she pushed to get us a timely appointment at the bank rather than allow the bank to let us be put to the back of the pile. Shannon is professional, but also relatable. She always seemed happy to talk to us and explained everything in plain English. I highly recommend Shannon and would definitely enjoy working with her again.
Kathleen & Mario
It's been 35 years since we have dealt with a bank either for a mortgage or line of credit. When we went to a bank for a line of credit we were disappointed as to how we were treated by two different banks, a far cry from service we received years ago. Our daughter recommended Shannon who she dealt with years ago in getting a mortgage. We contacted Shannon and had a meeting with her at our home. She walked us through the process of getting a line of credit. A week later or so later she emailed us with the best interest rate she had found. After accepting the proposed rate we gave her permission to prepare the documents for a line of credit. After the documents were prepared she brought them to our home and provided us with an explanation for each set of documents. She made all the arrangements to meet the the bank representative and the notary public. Our experience with Shannon in getting a line of credit was exceptional. All documents were fully explained and she kept us fully informed as to the progress in getting the line of credit. All of this was done in our home or via email. It was the first time we have had our own 'personal banker'. Rob&Jas
Rob and Jas
It was an absolute pleasure dealing with Shannon. She was extremely thorough from start to finish and always had our best interest in mind. It was very easy to communicate with her and this led to a seamless transition into our dream home. I would highly recommend her to anyone looking for a mortgage . Thanks Shannon we look forward to working with you in the future!
Katherine and Jon
We recently refinanced our mortgage with Shannon Mayhew. Our file was a very difficult process due to some credit issues. We would like to acknowledge the exceptional service that we received during the entire refinancing process. Shannon Mayhew's professionalism and knowledge of the industry was impressive and truly appreciated. In the past, we have had experience with several others mortgage brokers and have found the process frustrating and tedious. Shannon went above and beyond to ensure that all of our needs were met and that everything was handled thoroughly and efficiently. I was shocked, surprised and very impressed that Shannon actually reduced her commission with the lender to finance our file. I have never had this experience with any other mortgage broker; this only proves the truly remarkable and amazing person that she is. Shannon kept us advised every step of the mortgage process, explaining the reason for every obscure document requested from us. Her manner was always friendly, and she was always available to answer every question we had. We will strongly recommend Shannon to our friends and family in the future, and we will be certain to use her the next time we require new financing. She is remarkable and a five-star broker who gets the job done.
We were referred to Shannon by our realtor friend because he knew that she would be the right person to handle all of our mortgage needs. Shannon met and exceeded all of our expectations. She answered all of our questions promptly and was in communication with us from the beginning of the process, until AFTER our move to our new home. Shannon made the transition very easy for us. We would not hesitate to recommend Shannon to any of our friends and family. Many thanks Shannon!
Jim and Juliet A.
I am very grateful that you under your professionalism were able to present to us the best case scenarios as they applied to our situation. My choice in selecting you as our mortgage broker came from a credible reference which instilled the confidence that was needed here for us to proceed. I felt our challenges were perhaps to large to overcome based on the history, and you presented a action plan that reassured us that there is a pathway to towards a solution. Also your people skills are nothing short of excellent in leaving me with, that you care enough to follow up with advice and your professional knowledge and experience for the best interest for your clients. Thank you again in helping us get though our financial crisis.
“Shannon was an invaluable part of our house-hunting process. As first-time buyers, we were coming in with relatively little information — but Shannon was supportive, super informative and ultimately, got us an excellent rate. If you’re in the market for a new home, get her in your corner! We’d definitely use her again.” Cheers, and thanks again! Dylan
Shannon has just walked us through some complex financing (at least complex to us!) we had need of and she did an amazing job! She was always available, answered all our questions very quickly, and came up with solutions we would never have thought of. Thanks, Shannon for all you've done for us :)
Ted & Monique
It was a pleasure to work with Shannon Mayhew. It was a much better experience than working with the big banks directly. Shannon was willing to meet person to person which we all know could be difficult to do with some banks. Overall we definitely recommend working with her. Thank you again!!
Our financial adviser referred us to Shannon to support our plan to re-finance and renovate our home. From the start, her requests for information were clear and she followed up constantly with an outstanding list of required documents, this was extremely useful and kept us on track! There were a couple of documents that we had difficulty obtaining and Shannon was there to provide us with guidance and support. She liaised quickly and efficiently with our lawyer and left us with the feeling that she had our back. My wife and I would have no hesitation in recommending Shannon to anyone with mortgage needs. She was professional, organized and knowledgeable and we quickly built an open and honest working relationship, at times, she even made the mortgage process fun!
When we first started looking for rental property, we were told by one mortgage broker that we couldn't get pre-approval. That really made us less competitive when making an offer. One of my friends told me 'Call Shannon, she is amazing.' It turned out she really is. Shannon not only helped us get the pre-approval, but also pushed it to a higher level when we decided to purchase a single house rather than a condominium. Shannon reduces our interest rate whenever she is able to. Since the completion of the mortgage, our rate has been reduced twice already. And we don't need to do anything, she just updated us with the new interest rate. I would strongly recommend Shannon to anyone who needs a mortgage or renew their mortgages. You will be amazed by her outstanding service!
Gavin and Jasmine
My husband and I were in the market to purchase our first home and the process of mortgage/rate shopping can be quite stressful and daunting. A friend of ours referred us to Shannon and we are so glad that we made the call! Shannon worked hard to get us the lowest rate possible and even managed to lower it still, just before our file was processed. Having had no experience in purchasing real estate, we were amazed and so happy with Shannon’s knowledge and expertise. She showed us (extreme) patience with our many, many questions and really put our minds at ease by talking us through every step of the process. My husband and I both have busy schedules and Shannon was always available to take our calls at anytime. We would love to work with Shannon again and would highly recommend her to anyone looking to secure a mortgage
Dayna and Bruce
When I last refinanced I used a Mortgage Specialist at a banking institution who had previously worked for me as an independent broker. It was a long and difficult process and I didn't get the results I was hoping for which left me having to attempt to refinance again to get enough funds to do some necessary improvements on my home. I realized I needed an independent broker. Shannon Mayhew was recommended by a friend. Ms. Mayhew's services have exceeded my expectations. She made the process as simple and painless as possible. She was also available to answer my questions whenever they arose. She was patient and thoughtful about her advice. I am very pleased with the results of her work. I would highly recommend working with her and will certainly contact her in the future.
Having someone explain the process of buying a house made it all so much easier. Being a first time home buyer we probably would have missed a lot of forms and processes. Shannon was available to explain what was required at every step. She was available for a quick call or email whenever we had questions and gave great advise and suggestions along the way. Aside from helping us get a great mortgage rate she really helped make a huge decision simpler. -Meeta
My wife and I wanted to take advantage of equity in our home to consolidate some debt. We were turned down by the banks, but Shannon was able to get us a new mortgage which allowed us to pay off our debt and save a lot of money. She was very easy to work with and we are very appreciative.
My wife and I were looking to renew our mortgage and to consolidate our debts, but our current Financial institution did not reach out to us in a timely manner. Shannon Mayhew was referred to us by my co-workers partner, Jennifer Clancey, a real estate agent. I called Shannon a couple of days later and left a message for her to call back. Within the hour, I got a call back from her. Shannon was easy to talk to and very knowledgeable about mortgages and I felt at ease about sharing our information with her. During the entire process, Shannon was nothing but professional even though she had a family emergency. One of Shannon's best attribute is that she got back to me in a timely manner, generally under 15 minutes, which help alleviated my anxiety. There had been times I contacted her by e-mail at 8 or 9 pm at night she would respond with lightening speed. I could go on, writing a novel, but that would just bore you. If you are looking for an honest, dedicated, knowledgeable and hard working Mortgage Broker, you can stop searching and call Shannon, she will take great care of you and your needs. Regards, Milton Yung
We really enjoyed working with Shannon. Shannon was professional and prompt from the get go. She really took charge and made sure all other parties involved in both the purchase and sale of our homes provided all relevant information in a timely manner and aware of important dates. We feel Shannon went above and beyond the norm to ensure that our transition was as smooth as possible, and look forward to working with her again
J. Crockett and S. Rothman
Somewhat overwhelmed, and clearly unfamiliar with the options available for the 1st, and mostly recently, the 2nd renewal of our mortgage, my wife and I have turned to Shannon for advice and expertise. We have been thoroughly impressed with the apparent ease with which she was able to help us navigate through the decision-making process. With a brief synopsis of our situation, Shannon was able to clarify the options available and gave us a precise snapshot which made decision-making relatively straight-forward. Given our financial situation at the time, the first renewal proved to be timely and an optimal decision. It was a great relief to be able to set up the next stage of our mortgage agreement knowing that we could depend on Shannon for thoughtful and up-to-date advice. She has been a professional in every sense of the word, and most importantly, someone who is a genuine pleasure to work with. Many thanks, Shannon! Sincerely, Joe and Jean
Joe an Jean
Over the past year plus, Shannon has helped us through mortgage negotiations, selling our home and the purchase of our new home. Her quick responses, professional advice and personal connection she makes has been amazing. Helping us understand banking language, breaking down the steps of what we need to do next and always checking in to see how things are going. If you are need of someone to bounce questions off of she is a fabulous resource. Thanks for all your help and we will be in contact for years to come!
I recently had to renew my mortgage for the first time. I was unsure of who would be the best for my family and really didn’t have a lot of time to shop around for the best rates on my own. I asked colleagues who they used and a friend of mine recommended Shannon. I know when my new mortgage comes due again I won’t hesitate to call Shannon to have her facilitate my next mortgage. There was never an hour too early or late, no Monday to Friday nine to five. I work very irregular hours and she accommodated me to the point that I was confident I was in good hands. The peace of mind my wife n I experienced dealing with Shannon was second to none and anyone I know who needs a mortgage, I will recommend Shannon to them.
We had just purchased a property with no subject to sale clause in the contract due to multiple offers. We were down to the wire as our current house was not selling as fast as we and our realtor thought it would. The only financing we could find was a private lender that charged approximately $35,000 in fees and a 9-12% interest fee on an open loan. We contacted Shannon on the recommendation of our realtor. Shannon was the only broker that was able to find us financing (from a major bank) at a reasonable mortgage rate. Shannon saved us thousands of dollars and provided exceptional service. Thank you Shannon.
Shannon has been a great partner in my mortgage seeking and approval process! There were numerous oddities in my purchase process and she was a very reliable source for information when I had questions and went above and beyond to facilitate my particular needs. I will definitely be working with Shannon again in my future and I would highly recommend working with Shannon to others.
I wanted to write this because my experience with Shannon from the first phone call to completion of our business was seamless. Any issues along the way were dealt with immediately, which made it a seamless experience. I would like to start with my first impression of Shannon when she called for the first time. She was very easy to talk to and made a genuine effort to get to know who I was. This genuineness help establish a professional relationship that proved to work out well. Shannon met the needs of my finances by spending time getting to know my family's situation. After getting the paperwork done Shannon made it easy to get things done. She was knowledgeable about all topics related to my experience. I often asked question after question of which she was happy to answer. She walked me through each step and even called in some favors to make sure I was satisfied. She made sure that I got the best rates she could get, which meant more money in my pocket. She is well organized, approachable and I always felt I was her only client. Looking back on my experience dealing with Shannon, I would definitely ask for her help again for any future business I might have.
I was a first-time buyer and really had very little knowledge about mortgages and how they worked. I was intimidated about the whole process but right from our first phone call, Shannon made me feel at ease. She was professional, assuring, informed and supportive through the whole process. I cannot recommend her highly enough! With Shannon's help, I became a home owner and that is a dream I did not know was possible for me. Thanks you Shannon!
Shannon is very professional and active broker that helped me and provided solutions very suitable to my demands. She work smart and proactive. I would definitely recommend her service.
We had a great experience working with Shannon. Not knowing what to expect, she was very quick and efficient. She was able to provide us with all the services we needed that the banks could not, with regards to debt consolidation and mortgage refinancing. Her efforts are much appreciated. I would not hesitate to use her again or recommend her to anyone requiring the services of a mortgage broker.
My experience with Shannon was top notch. She knows the products she's selling and has the skills to apply them to fit your mortgage requirements. I would not hesitate to recommend Shannon to my colleagues for their mortgage needs.
Shannon was awesome in finding me a new lender for my mortgage, with much better rates than my major chartered bank that I have been with for 35 years. She only had two weeks time and she found me a great deal where I was able to borrow more and pay off debt. My payments are now 1/3 lower than the major bank!!! Thanks Shannon!
Thank you Shannon for all your extra help with the renewal of my mortgage. Renewing and switching lenders proved to be more complicated than I had anticipated and your ability to stay on top of things made me rest peacefully at night; I KNEW YOU were taking care of EVERYTHING...and I really, really, really love the new rate!! WOOT!
Shannon was a pleasure to meet and her service was excellent. She was very easy to get along with and accommodating to our hectic schedule. Her access to the best rates which I could not find any regular bank to meet will save us $ in the long run as well. I would recommend Shannon without hesitation.
Shannon has just walked us through some complex financing (at least complex to us!) we had need of and she did an amazing job! She was always available, answered all our questions very quickly, and came up with solutions we would never have thought of. Thanks, Shannon for all you've done for us :)
Monique Herfst VanderWart
We were so impressed with the level of expertise and advice that Shannon Mayhew gave us throughout the entire process with regards to our mortgage renewal. She truly had our best interest at heart, met our specific needs and exceeded our expectations. We even signed everything thinking it was final, but then she came back with an even better offer, now that is great customer service. She cares about her clients and we would highly recommend her!
Shannon had helped me find the right lender and rate for my first mortgage. Shannon made the process so simple and easy. Shannon had made sure that we would have financing before our completion, which was a newly built development and we did not know when the completion would be. Thanks so much Shannon. I highly recommend using Shannon as your mortgage broker!
We had a VERY good experience with Shannon Mayhew our mortgage broker- Shannon was a pleasure to work with. She secured us a great rate and was on top of all the paper work and our lawyers to make sure we had all the documents in place. We had a very short time frame to work with and Shannon made it as easy as a transaction as possible. She even hand delivered documents and we’ll definitely recommend Shannon to our friends and family
Shannon is very knowledgeable and is willing to go the extra mile. She made the process very easy and explained things in very simplified manner. Most information covered over the phone. I have two children and work full-time so my time is limited. She was understanding and went out of her way to come to my home to process the documents. I am confident I received a far better rate than the bank was willing to provide if I had went to them directly. I highly recommend her to anyone looking for Mortgage or a renewal.
It is my privilege and honour to recommend the professional services of Ms. Shannon Mayhew. A busy professional myself I could always count on Ms. Mayhew to keep me and the members of my 'team' rallied around the task at hand. She demonstrated excellent organizational and leadership skills in creating a cohesive team in my complex real estate dealings over the past year. Her leadership skills are superior, a unique and unexpected skill set to bring to the table. Shannon managed the professionals on my team with aplomb. It was an experience watching her at work! Shannon broke down my two real estate deals into manageable components for me. Her step by step priority lists walked me through the process ease and led to stress free experience for me. Her patience was limitless, as was her availability to me. She promptly answers emails and phone calls even on her precious time off. Shannon's positive upbeat demeanour and the depth of her professional knowledge never ceased to impress and astound me. She is a creative, out if the box problem solver. A trait which I believe sets her apart. I know my real estate team intends to refer her to their clients. I will also refer her to friends and associates without hesitation! She is, undoubtedly the among the best in the biz!
Diana Mogensen Case Manager/ Teacher
Shannon was referred to me as I was needing to renew my mortgage and consolidate some debt. I found Shannon to be a consummate professional with good advice and suggestions for me to consider as she steered me though the process. She was always prompt at getting back to me and made me feel that I was a priority with her. I would certainly recommend Shannon if you're in need a good mortgage broker, someone you can trust
Mary Ann Smith
Shannon is amazing and always super patient and kind. A colleague of mine recommended her as I will do with everyone else in the market!
Shannon was great with helping us get our refinance approved. She was very attentive and responded quickly to email and calls. If you are having difficulty getting approved for financing, I would highly recommend Shannon Mayhew.
Shannon came up with solutions we wouldn't have thought of, came up with some excellent rates, and conditions that will work for our family and our plans. The planning and money savings and mortgage product she obtained for us extended beyond our home needs to considering the most advantageous tax solutions as well. I, personally, was thrilled at not having to bargain directly with lenders. I wouldn't have known how to do it or what to ask. Shannon always answered our questions quickly, and professionally and, your in-depth knowledge of your field was very evident. Before we met Shannon, we had worked with another mortgage broker and there is no comparison...the difference!
This was my second time arranging a mortgage through Shannon, and it won't be the last. Although I am across the country from her, she was always available to go through things I wasn't clear about. She's also incredibly organized, which meant I never had to worry about missing an important deadline. An absolute first-class experience. Thanks, Shannon!
As a young couple new to the real estate market we were so happy to have met Shannon. There was no problem or question too much for her and she always had so much insight and expertise with her answers. Her communication skills were second to none, comforting us in the stressful and eventful times associated with the home buying process. She explained everything from getting approved for a mortgage to closing costs we may encounter. Her enthusiasm, tenacity and professionalism combined sets Shannon apart from other brokers. I am truly thankful to know Shannon and better yet, have her advise us on such a huge life decision. Thank you so much Shannon!
Angie and Lee
As a first time home buyer and having a healthy but unique financial situation I was frustrated with the first bank and mortgage broker. Shannon was recommended to me from someone in the industry and after our first conversation I was confident that she was a very competent mortgage broker. She always had the right answers to my questions and successfully walked me through the purchase of my first home. Many thanks to Shannon for being on the ball and a genuine person. It was an absolute pleasure working her.
Working with Shannon to find a mortgage that suited our situation was a pleasure. As first-time home-buyers we were very nervous about taking on the largest financial commitment of our lives but, Shannon's knowledge and thoroughness put us at ease. She presented several products to us and explained all the advantages and disadvantages of each one, allowing us to make an informed decision. She also answered every question we had with patience and ensured we were well-informed of all the required steps throughout the entire process. I would not hesitate to recommend her to friends and family requiring her services. Thanks Shannon!
Shannon went above and beyond the call of duty, helping us navigate and deal with the extremely complicated and ridiculous world of private mortgage companies, a lawyer who liked do things.. er, differently, and then setting things up for the future with a line of credit. I have no hesitation in recommending Shannon.
Working with Shannon made the process of getting a mortgage a much smoother one; she was extremely communicative and always on top of things. She was consistently checking in and seeing if she could assist us in any way. We were very pleased with the mortgage package she was able to secure for us and the exceptional customer service we received; I can readily recommend others to look to Shannon for help with their mortgage needs.
We approached Shannon Mayhew because she was highly recommended by others in our neighborhood. Shannon helped us by completely removing the worries of financing and making sure that everything was in order. Her hard work went above and beyond our expectations and we will gladly recommend her to anyone looking to refinance or obtain a mortgage.
Eddie and Julieta