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TMG The Mortgage Group Atlantic Inc.

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Brian Patey
Mortgage Broker Newfoundland & Labrador
Purchasing a home is an important decision and you should be confident about your investment. I will work with you personally to offer you valuable insight throughout the process, save you time and find the mortgage that best suits your situation.
  • Expertise
    I am able to offer you independent expert advice on your mortgage options. Not being tied to one particular lender enabled me to help provide you with a wide range of potential mortgages that can meet your current needs.
  • Save Time with One Stop Shopping
    Your time is valuable, I can quickly narrow down the list of lenders that will help you attain your financial goals. This will help make your mortgage comparison very easy, fast, and convenient and most of all, get right mortgage for you and your family.
  • No charge to you
    The best part with my services is that there’s no charge on typical residential mortgage transactions. Like numerous other professional services, mortgage brokers are paid a finder's fee when we introduce dependable clients to a financial institution. We help you find the best deals.
Why Should You Use My Services?
I will negotiate on your behalf. Many people are uncertain or uncomfortable negotiating mortgages directly with their bank. And even if you have an existing relationship with your branch, TMG does millions of dollars of transactions yearly with a wide variety of lending institutions so we have strong lender relationships. I can use that relationship to your advantage to negotiate your mortgage to ensure you secure competitive rates and terms that benefit you.
 
I will also ensure that you're getting the best rates and terms. Even if you've already been pre-approved for a mortgage by your bank or another financial institution, you're not obliged to stop shopping! I can investigate on your behalf to see if there is an alternative to better suit your needs.
 
Do you know about mortgage customization? All mortgages are not created equally, and depending on your financial goals, I will ensure the mortgage you receive helps you with those goals. Whether borrowing to purchase, renovate, or make your mortgage interest tax deductible, I can ensure that the mortgage you have helps achieve these financial goals.
Think Outside the Branch for Your Mortgage
New Mortgage
Are you looking for a New Mortgage? I can help find you the best Mortgage that best suits your needs and budget.
Renewal
When you are looking to renew your mortgage, I can personally review all the options for you, shopping around for the best mortgage rates, making the entire process easy and simple. Begin the talks about 4 to 6 months in advance of renewal time. Most lenders will guarantee a discounted rate for 4 months but your renewal agreement is typically sent only 30 days ahead of your maturity date.
Refinance
Sometimes, refinancing your home is your best choice for a number of reasons. I can review the available options to help you find the best solution and I do the hard work for you!
Get started with your Mortgage application now!
I'm here to help with your mortgage needs, refinancing, new home purchases or mortgage renewals.
Types of Mortgages

A fixed mortgage offers you the security of locking in your interest rate for the term of your mortgage, so you know exactly how much principal and interest you will be paying on the mortgage during the term. Terms range from 6 months to 10 years. Fixed rate mortgages offer some form of pre-payment, from 10% to 25% of the original mortgage balance each year, depending on the lender. If you wish to pay off your mortgage in full, there will be a penalty of either 3 months simple interest, or an Interest Rate Differential (IRD). The benefit of this mortgage is the rate is lower than an open mortgage, making it a more popular option if you have no plans to pre-pay it in full during the term you select.

A variable-rate mortgage allows you to take advantage of today's low Prime Rate. Most variable rate products are set below prime, terms range from 1 to 5 years. Payments vary depending on the product or lender you choose. In some cases you can fix your payments for up to 5 years, but the interest rate will fluctuate as the Bank Prime Rate changes. In other cases your monthly payments will fluctuate depending on how many times the Prime Rate changes during your term.

An open mortgage allows you the flexibility to pay off some or the entire mortgage at any time, without penalty. Interest rates are usually higher and are tied to the Bank's Prime Rate.

A secured line-of-credit allows you to access the equity in your home whenever you choose. Rates are tied to prime, usually slightly above prime. Required payment on the balance is interest only, making it a good choice where cash flow may be important. Lower interest rates compared to an unsecured line of credit. You may have a secured line of credit and a mortgage, if you have good equity in your home.

Today's Mortgage Rates for Newfoundland & Labrador
Since I work with a wide range of lenders I am able to access competitive, lower-than-advertised interest rates. Check back often to see how these rates compare to average bank rates.
How Much Can You Afford?
Use our Mortgage Calculator to help figure things out
— Latest Posts
Brian Patey || February 23, 2023
Do mortgages vanish when people pass away?
The short answer is no. It may seem like a morbid thought, but the fact is, for most people, their mortgage is the largest debt they’ll carry in their lifetimes. As a result, many...
Read More
Brian Patey || February 07, 2023
What should you focus on this tax season: your mortgage or your RRSP?
Now that the holidays are behind us, we’re quickly approaching the next period that brings our finances into focus—tax season. A common question I receive from homeowners is, should I put...
Read More
Brian Patey || February 06, 2023
British Columbia’s “cooling-off period” now in effect
As of January 1, 2023, British Columbia became the first jurisdiction in Canada to implement a rescission period for real estate transactions, also known as a "cooling-off period.” The amendments...
Read More
Brian Patey || January 30, 2023
Bank of Canada hikes rates by 0.25%, but is now likely to hit the pause button
The Bank of Canada delivered its eighth consecutive rate hike on Wednesday, January 25, but said it would likely now pause to assess the impacts of its rate hikes to date. As expected, the Bank...
Read More
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Contact me! Let's get started today!

Get in touch with me today for your free consultation!

Whether you're looking for a first mortgage, refinancing your current home, or just researching your options, I'm here to help.