Customized Options Are the Name of the Game for Powell River Mortgage Broker

Specialist has comprehensive answers about mortgages.

MORTGAGE MASTER: Broker Jeremy Garth, now with Xeva Mortgages, can help anyone in Powell River find the right mortgage for their current and future needs. Vanessa Bjerreskov photo

For almost two years, Jeremy Garth has been helping Powell River residents find the right mortgage, and he loves surprising people with the number of options they actually have.

“I am a licensed mortgage broker in Ontario and British Columbia, and I’ve been working in Powell River since March 2020,” says Jeremy. “I transitioned to being a broker because it gives me more flexibility to find the right product and rate for my clients.”

From people with steady jobs and good credit, to seniors, first-time home buyers, and the self-employed, anyone interested in a home purchase or refinancing should contact a mortgage broker, says Jeremy.

“People spend lots of time researching the house they want or planning their remodelled kitchen, but they often simply go to their bank and take the first mortgage option offered to them,” he adds. “When you work with a broker like me, I bring all my knowledge and the products available through 60 different lenders to the table, so you can find the right mortgage for your situation.”

Jeremy was with Mortgage Alliance until this month. He is now transitioning to working with Surrey-based Xeva Mortgages.

“Being with a BC brokerage just makes sense for my clients,” says Jeremy. “I now have access to more BC-based lenders, like local credit unions, as well as the big banks and mortgage finance companies.”

While Jeremy is always looking at mortgage rates, he also looks at the services available through different lenders.

“I always plan to work with my clients for the life of their mortgage, so in a lot of cases, the decision comes down to factors besides the interest rate,” he says. “I’m looking at your future wants and needs as well as your current ones. Yes, maybe you’ve always done five-year, fixed-rate mortgages, but if you’re planning to move in the next two years, it probably won’t be the right product right now.

“Or if you work remote or travel a great deal, you might need a lender with a powerful web portal so you can make adjustments to your mortgage when it suits your schedule, instead of having to go to a physical location weekdays between 9 am and 5 pm. By presenting you with a variety of options, you can make the choice that’s right for you.”

Many people are surprised at the options available, says Jeremy, especially if they have just dealt with their bank before.

“Most people find it a pleasant surprise when I show them my recommendations,” he adds. “For example, I usually recommend at least one variable-rate mortgage product. There is a big fear factor with variable-rate mortgages – what if the rates go up? – but they are also among the most flexible mortgages out there.

“Historically speaking, those who are in a variable-rate product for the lifetime of their mortgage generally end up paying less interest than those who use fixed-rate products. The choice is always yours; my job is to make sure you know what your options are.”

Because Jeremy is generally paid by the lenders, most clients receive his services free of charge. He works out of his home, and also rents office space at 460 Realty, 118-4801 Joyce Avenue.

“Powell River is my clientele, whether they use a 460 realtor or not,” says Jeremy. “I can also help people who are refinancing, whose mortgages are up for renewal, and even those who have been turned down by a bank to figure out what they need to do to set up for success in the future. Give me a call, and we’ll figure out what options are right for you.”