The bottom line on this one is simple...You will save a lot of TIME, and a HUGE amount of Money! Our rates are typically 1-1.75% lower, and we have multiple products and lenders that most Banks just can't compete with.
COSTCO or 7-11
The best analogy I ever heard was the Costco VS. 7-11 scenario. Think about this...if you had $500.00 to go and purchase groceries for your family - where would you go for the "best bang for your buck?" The answer of course is Costco...for many reasons, Wholesale Price and Selection being the top 2 reasons, followed by Service as a close 3rd reason. If you said 7-11 - you are a moron and a mouth breather and should not be entrusted with money.
Using that analogy, we at FOCUS are more like COSTCO. We are Wholesale Priced, we have a huge inventory of mortgage products with multiple lenders, and ultimately we provide service that is second to no one! You matter to us! Your bank is more like 7-11. They are convenient, priced too high, and weather you have been there 1 time or 100 times - there are no freebies. When was the last time the bank just gave you their lowest rate and you didn't have to grind them up for it? NEVER. Banks are there to make money - they are UNIT based sellers - they sell you mortgages, loans, credit cards, RRSP's, Insurance, etc, etc, etc...the more units they sell you, the more they make. The price of convenience is a big one!
Bob's Fuel and Doug's Discount Fuel
The other good parallel I like between Banks and Brokers is the Gas Station scenario. Two gas stations - Bob's Fuels and Doug's Discount Fuel, selling the same gas, providing the same service, one on the North end of town, and one on the South. The difference - Bob sells his gas for $1.10/litre and Doug sells his for $.90/litre. One question...where would you go? I am betting you would go to Doug's.
What is absolutely incredible is that the average vehicle has a 70 Litre Fuel Tank. The difference from filling at Bob's and Doug's is $14.00. Consider you probably fill up once every 2 weeks...that's $364.00 per year difference is the price never changes. In 5 years, that's $1820.00.
That's a lot of money. Now consider that the difference between a mortgage rate from a Bank and us on $200,000.00 - the difference over 5 years is over $13,000.00 that you don't have to spend! So why are you going to your bank? Free Cookies and Nasty Orange Juice?
Need to see it to believe it? Okay:
Consider a $200,000.00 mortgage on a regular 5 Year term with a standard 25 Year Amortization. TYPICAL!
Our Rate = 3.79% The Big 5 Average Rate = 5.69% The Big 5 Average PROMO Rate = 4.39%
(To be as competitive and as fair as possible...we will compare our 5 year rate against their PROMO rate...even though this is our regular everyday rate. Rates are subject to change...this example is based on May 27, 2011 info.)
US THEM DIFFERENCE
Monthly Payment $1029.40 $1094.75 $65.35/monthly = $3921.00 TOTAL
Total Term Interest $35,229.19 $40,956.39 $5727.20 TOTAL
Total Term Principle $26,534.61 $24,728.52 $1806.09 TOTAL
Total Remaining Balance $173,949.69 $175,729.15 $1779.46 TOTAL
The Big Picture:
$3921.00 + $5727.20 + $1806.09 + $1779.46 = $13,233.75*
*That's money you don't have to spend with one of our mortgages. Let's say you don't qualify for the bank's special PROMO and they get you on their standard rates...want to know that number? It's $28,774.32 difference!! Now, of course we can't do this for everyone - however, we can do it for nearly everyone.
We are a phone call away,
877-75-FOCUS (877-753-6287) - or you can just fill out our Online Application!