Who is Cameron Wood?
Hi, I'm Cameron Wood, a loving husband, father of two active boys, a real estate investor and mortgage broker.
As your mortgage provider, I offer one-stop convenience and impartial advice. Because I work closely with you and some of Canada's largest banks, trust companies, and mortgage lenders I can get you the best product to meet your goals. Unlike your bank, I shop around for you to ensure you receive the best possible deal.
While serving in the Canadian Armed Forces, I learned the importance of working as a team. I also learned that having a plan is critical for success. My drive to keep going until I find or create the optimum result has resulted in a wealth of personal knowledge and experience that helps me get the best rates for my clients.
I became a mortgage broker to help people like you harness the immense leverage power found in real estate financing. I help people successfully achieve their real estate financing goals and take that critical step towards home ownership.
I write weekly mortgage articles for the Leduc Representative. I also run Debt and Credit Seminars at the Leduc Public Library, and I write expert columns for Leduc Radio to help people make better financial decisions.
After discovering your unique situation, I'll work out a custom mortgage solution with you that fits your needs and goals. Each of my clients receives platinum service and attention, regardless of their credit score.
My business success is built on happy customers like you getting better financial solutions that help them achieve their goals and dreams.
Isn't it time you had a knowledgeable professional working to make your dream of home ownership a reality?
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Areas Served
- Leduc
- Camrose
- St. Albert
- Sherwood Park
- Stony Plain
- Spruce Grove
- Ft. Saskatchewan
- Ft. McMurray
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- Edmonton
- Sylvan Lake
- Red Deer
- Calgary
- Grande Prairie
- Lethbridge
- Beaumont
- Wetaskiwin
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Frequently Asked Questions
Why Use a Mortgage Broker Versus my Bank?
Specialists Versus Generalists
We are mortgage specialists rather than a jack of all trades. We don't do bank accounts, RRSP's, or personal loans. We just do mortgages. And because of the volume of mortgages we do the banks offer us a preferred rate, even better than the rate they normally offer their best credit worthy customers.
We source your mortgage, based on your circumstances, from over 80 Canadian lenders including banks, mortgage companies, trust companies, and private lenders.
Avoid Multiple Credit Reports
When you apply for a mortgage the lender must obtain a current credit bureau report. If you apply at multiple banks this results in multiple credit ratings, which lowers your credit score.
A mortgage broker only needs to pull your score once. They then use that information to shop around for you at multiple lending institutions. This helps you maintain the best credit score possible.
How Does a Mortgage Broker get Paid?
Except in the case of private lenders, mortgage consultants are paid directly by the lenders or banks that we choose for your mortgage. Once your mortgage has been funded they send a referral fee to the mortgage consultant to pay for our services.
They do not take anything from the mortgage to pay us, so our services to you are free of charge.
Are There any Fees for Using a Mortgage Broker?
Again, other than on private deals, where there is no lender commission for us to collect, there are no fees. We do not charge a broker fee in most cases.
In some circumstances you may have to pay your lawyer for an appraisal (only if applicable).
Fixed Rate or Variable Rate? What Type of Mortgage is Best for Me?
The answer is more easily answered based on your personality. If you would prefer to have no changes in your payments for the entire term of your mortgage even though the interest cost will likely be higher, you should choose the fixed rate mortgage.
(Although there are some variable rate mortgages that fix the payment as well, but the the amortization is effected when the prime rate the variable rate is based on changes.)
With an adjustable rate mortgage, your payment may change when the bank of Canada changes the prime rate. They can only make changes on 8 preset days per year and the payment difference is usually minimal as they usually adjust by about one quarter of a percent each time if any.
Over a five year term you will usually save interest costs by being in an adjustable rate mortgage. Ask us about the specifics when you call.
What are the Differences Between a Closed and Open Term Mortgage?
A closed mortgage usually means that if you want to change or cancel your mortgage before the term is up, you will usually have to pay a prepayment penalty.
With an open mortgage, you have no such penalty to pay. Although, the cost for most open mortgages is higher than a closed mortgage.
Like most things in life, the decision whether to go with an open or closed mortgage depends on your unique circumstances. Contact Cameron Wood today to book a free consultation.
When is it Good to Refinance my Mortgage?
Refinancing a mortgage is usually done for one of three reasons.
1) The rates have gone done significantly since you got your mortgage and you want a lower interest rate.
2) You want to pay off some debt that has accumulated which has higher payments and interest rates attached. Refinancing in this circumstance would likely lower your overall interest rate and lower your monthly payments by a significant amount.
3) You need money for renovations, a new car, a big vacation, a new business venture, or for a down payment on another property. If the equity in your home is sufficient, refinancing is likely the least expensive way to borrow additional money.
The cost to refinance is usually the legal fee of around $1000, a possible prepayment penalty on your current mortgage, and a possible appraisal fee of less than $400.
Call Cameron Wood to discuss your specific circumstances. We'll do the math and help you discover the best rout for you.
Are There Still Options to Purchase a Home Without Saving for a Down Payment?
Even though the Federal Government has said they will no longer back 100% financing there are still a couple of lender options to purchase a home without a down payment. You must have good credit and be current with your income taxes.
Are There Ways to Improve my Credit Score Quickly?
There are many ways to improve your credit score. We have set up a free email credit course on our website that you can sign up for or you can call us to discuss your situation and where to get started back on the road to great credit.
What you do now will greatly influence your report in 3-6 months. A good credit score can save over $10,000 a year in interest costs because you will qualify for a lower interest rate.
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Benefits
Custom Mortgage Solutions
I'll work out a custom mortgage solution with you that fits your needs and goals.
Access to Hundreds of Mortgage Products
Your bank won't tell you this, but you have a wide range of options available to you from lending institutions across Canada. I work with over 80 Canadian lenders to get you the best mortgage rate.
Accessible After Hours and Weekends
Why settle for a mortgage broker that is only open when you are at work? I'm available after hours and on weekends to answer any questions you have.
Wide Array of Services
I provide a wide array of financing services. I can do more than just get you the best mortgage, I can help you straighten out your finances, make smart financial decisions, and achieve your life goals.
Customer Satisfaction is my Mission
Satisfying you is good business. My business is based on referrals. I work hard to ensure that you are so satisfied with my service that you feel comfortable sending your friends and family to me.
Mobile Service
Life moves fast, and we're all struggling to keep pace. I can come to you, which saves you time to focus on the things that matter to you.
No or Bad Credit? No Problem!
I'll not only fight to get your financing approved, I'll also help you repair your credit score, consolidate debt, and repair your finances.
A Strong Negotiator
I negotiate with banks to get you the best mortgage rate. My business is based on referrals from satisfied customers, so I fight hard for every percentage point I can save you.
Lowest Rates
Working with Dominion Lending Key Financial, one of Canada's most trusted mortgage brokers, I have access to many of the lowest rates available.
I Work for Your Best Interest
I don't work for a bank, which means I have no incentive to give a mortgage rate that is not in your best interest. I work for you, and will always fight for your interests.
No Fees
One of the biggest myths about mortgage brokers is that you have to pay them to work for you. There is absolutely no fee to use my service on approved credit.
One Day Turnaround
I strive to achieve a one-day turnaround for all my clients. I know how hard it can be to wait for important news, so I work hard to get you the answers you need as quickly as possible while maintaining a high standard of quality.
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