Kim Boehlke is a mortgage broker/agent/business development manager with Champion Mortgage Inc.  She has been in financial services since 1995. She has been delivering mortgages since 2013 and has been a mortgage agent with Champion Mortgage Inc for 4 years.  I talk to her on the phone and via email about what a mortgage agent is, what is her unique value proposition is, her core competence, and how she helps her clients. I strongly recommend her for all your mortgage needs.

What is a mortgage agent/ mortgage broker?

Someone who can give you access to a variety of mortgage products. Mortgage agents are incentivized to keep in touch, to keep your rate competitive over the life of your mortgage. Even mid-term, it can make sense to move your mortgage.

What is the advantage of using you as a mortgage broker versus my bank branch?

At champion, we have improved the process of obtaining a mortgage through an online application portal, document-management services, automation, web-based information delivery systems, and online meetings. These technological tools speed up delivery times and increase the accuracy and amount of communication and education clients receive.

I educate on options, I prepare as much as possible for anything unexpected; I bring it together and make it happen.

Do I get better mortgage rates through you?

The mortgage rate is a simple feature of the mortgage. You get a competitive rate through me. I try to get clients to examine the other features. Mortgages sold on rate are often lacking in service and can sometimes not be what you think, such as mortgages with astronomical penalties when the mortgage is broken mid-term.

What do I need to do to qualify for a mortgage?

I like to have about a 10-minute call to get a sense of what you want to do. Then it’s filling out an application and send me your ID and income documents.

I book another call which can be 10 minutes or as long as you need it. You get your pre-approval and you are ready to go!

How long must I stay in the same job? What about being self-employed?

There are no hard and fast rules on these. It’s case by case depending on credit and down payment and the rules and programs are somewhat fluid. The shorter your time out of school, the more scrutiny there will be. Put in that condition of financing and we will see what we can do.

For those who do not have a great credit rating do they have to pay a higher rate?

In the current environment, there are certain FICO scores that are magic, 600, 620, 650, 720 are a few that come to mind. These give you access to certain products and rates depending on what you are doing. Below 600 will mean higher rates for sure. A little known fact is that when consumers do a soft pull of their score (a credit pull that does not show up as an inquiry), it is a different number, then when we do a credit pull for a mortgage inquiry. However, the two numbers, though not exactly the same, are usually not too far off in my experience. It’s not known exactly how Equifax calculates their numbers so I don’t know why the numbers are different.

Do you go and visit your client or do we have to come to you?

I do love visiting clients, especially to sign those last papers. However, one of the extremely efficient options I have with champion is to meet online, share my computer screen, and have a clear and effective meeting that way. I often have later in the evening appointments when the little ones are tucked in, to be able to focus.

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If there is anyone dependent on your income – parents, children, relatives – you need life insurance – Suze Orman

In the 21^st century, women are empowered socially and can be found in every profession. Across North America and the UK, more women are enrolled in universities than men. Women are contributing more to the household income and are essential to maintain a certain lifestyle. Women are becoming breadwinners and do not understand their financial value, and often do not take financial protection or life insurance.

I am starting a new series, Life Insurance For Women. I am going to interview Chad from GoLife Insurance  on the following ten topics:

1. Women are being overcharged, a lot, for mortgage insurance – what you need to know!
2. Why women talk themselves out of the life insurance they want/need?
3. How to prepare for baby- 3 pieces to financial protection (will, mat leave savings, life insurance).
4. Is underwriting for women different?

Today, many women make more than their spouses or are single-parent families. If something were to happen to you, life insurance will cover a lot of the expenses and will take care of your dependents. In North America, more than 50% of single mothers do not have insurance.

Women can use life insurance to save money.

Women can use insurance to protect against disability, chronic, terminal, and critical illness.

The life expectancy of a woman is more than a man. I also want to make something very clear. Life insurance is also for the stay at home mom. A stay at home mom is one of the most difficult jobs but also adds so much emotional, mental, psychological, and spiritual value to the household. If something were to happen to you, a cook, driver, or housekeeper would have to be hired.

If you are the matriarch of the family, your death could have an impact on the family.

As a single person, life insurance could pay off your student loans, taxes, bills, and other debts that your family might have to pay for.

I want you to think that life insurance is an investment and not an expense.

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