The life of Paul Garrett, of Garrett Mortgages, drastically changed after suffering a spinal cord injury.
With uncertainty about whether he would ever walk again, Paul stayed optimistic, learning new skills to help his community. Purchasing a home can be a scary endeavour; that’s why Paul decided to focus on helping others navigate the process. He not only works to secure the best mortgage rates for his clients, but also provides advice for how to make the mortgage — their biggest investment — work in their favour.
How can a mortgage specialist help?
Paul builds meaningful relationships with his clients, and this starts the moment someone reaches out to him for help. He knows that getting to know his clients, to understand their world, is the first step to helping them achieve their goals.
Paul believes in honesty, reliability, and integrity. For that reason, he happily stakes his name on the business.
Paul always suggests homebuyers pre-qualify for a mortgage before they begin their search, whether they are a first-time homebuyer, or a seasoned vet in the market. This allows his clients to comfortably look for a home within their budget. Paul has assisted many homebuyers to strategically plan their finances so they can be ready for that big purchase sooner than expected.
Paul explains that even clients with good incomes sometimes struggle to secure a favorable mortgage rate because of the way their finances are presented.
As an expert in analyzing income, debt, and other assets, Paul consults with his clients to clearly present the big picture for potential lenders. Paul has the flexibility to shop around for different mortgages with access to over 50 lenders. He works with capital companies, trust companies, credit unions, mortgage investment corporations, banks, and private lenders to secure a custom mortgage that fits the individual needs of each client.
Paul works closely with his clients to find the right rate, the right price, and the right length of time for their plan. No Plan? No problem! Paul helps his clients curate a plan for the future. He explains, “I basically do a forensic analysis of every aspect of the client’s finances and then discuss what is working and what needs to be improved.” After extensive review and collection of all the pertinent documents, Paul applies for a mortgage on his client’s behalf, a process that can take several days. It’s not unusual for Paul to secure a mortgage that is a full percent lower than the going fixed rate.
To qualify for the optimal mortgage, Paul emphasizes that everyone must pay attention to their credit rating. For those worried that their credit score isn’t high enough, he says, “Fear not.” He has helped many people with damaged credit improve their financial picture so that they can qualify for ‘A’ mortgages. If a client doesn’t meet the requirements to apply for a prime rate mortgage, Paul’s goal is to help set them up for success and build a comprehensive plan for buying a home. He urges that people take a cautious approach when applying for a mortgage, and work with qualified mortgage specialists who could save them thousands of dollars in the long run.
Paul is a big believer in community support, firmly convinced that “we must bring our youth along with us if we are to have a future.” He is also an involved member in many organizations around the city such as Kiwanis Club of Forest City-London, Spinal Cord Injury of Ontario, the London Chamber of Commerce, the Better Business Bureau, and the Forest City Allies.
Paul’s optimism and positive attitude always shine through when navigating the market with his clients. His sense of humor breaks the ice when he says, “When in doubt, you’d ‘Better call Paul’!”
Biography by Dean Dzoja