We sat down with Stefan to learn more about his journey with Ourboro and how he approaches his role as a mortgage broker.

Can you tell us how the journey to becoming an Ourboro Referral Partner went?

I was first introduced to Ourboro through 8Twelve and was very intrigued by this new lending approach. I quickly learned that working with Ourboro was an amazing opportunity that has helped me and my realtor partners open up homeownership possibilities to clients who wouldn’t otherwise have been approved.

What’s the biggest challenge you see facing buyers today?

Not having enough down payment to purchase a home, a challenge Ourboro can help with.

What trends are you seeing for first-time homebuyers? Are there any common pitfalls you see play out?

There are three things I often see with first-time homebuyers:

  1. They do not have enough income to purchase a home in today’s market.
  2. The housing market has never been more challenging to break into due to affordability, especially for first-time homebuyers.
  3. First-time homebuyers are lacking the down payment to purchase a home.

What are your thoughts on the Bank of Canada lowering interest rates?

I think they should continue to lower the interest rates.

What’s the most common misconception people have about mortgages?

There are a few misconceptions people have about mortgages:

  • You need to have a 20% down payment.
  • You need to have a perfect credit score.
  • You can’t get a mortgage if you’re self-employed.
  • You should always go for the best rate.

What’s your favourite part of your job?

My main priority is helping my clients reach their goals, so my favourite part of the job is when I get to make my clients happy by getting them into their dream homes.

If you only had three words to describe your approach with clients, what would they be?

I pick-up always. I’ll always answer the phone for my clients. I make sure to let them know they can call me at any time.

Is there a piece of advice you often find yourself giving to your clients?

I always tell my clients to try and pay off all of their debts before buying a house. I also recommend they do not do any financing during a home purchase that is not closed yet because it can end the deal.

This interview may have been edited for both length and clarity. The views and opinions expressed in this article are those of the interviewee and do not necessarily reflect the views or positions of Ourboro.