Mortgage Blog - First Foundation
Podcast: First Foundation Prez on What Brokers Do
January 6, 2012 by Gordon McCallum
This one got lost in the audio vault for awhile, but in mid-2011 I did an interview in a secret underground studio location with Cam Rutten who, besides being a great guy, is the regional director of BoB Clubs here in Edmonton.
If you can spare 22 minutes of your time, have a listen and let me know what you think. I tackle Cam’s blistering questions for the whole time…we cover a range of subjects like whitewater rafting, pre-approvals, doing mortgages for our competitors, spouses and kids, social media, and what’s going on in the economy.
Read more »A Day in the Life of a Mortgage Associate
December 15, 2011 by Jennifer Rochford
As mortgage associates, we have a pretty special job – we get to make dreams happen. It’s sounds kind of Disney an’all but that’s exactly what we do. Clients come to us to seek financing for a property that will llikely become their biggest financial asset, their sanctuary from the world and their shelter. So how do we do that, exactly?
We start with a great team – people that we look forward to seeing in the morning and who we trust and can rely on. After a lively chat and a round of fine Tassimo beverages we’re ...
Read more »Cool Tool - "When Will I Be Debt Free" Calculator
September 22, 2011 by Jennifer Cookson
A few months ago, my credit card bill came in the mail and below the balance due was a little blurb that advised me that if I continued to pay only the minimum payment, I’d pay off my card in exactly 26 years and 11 months. Alternatively, it pointed out, if I paid an extra $80 a month, I would reduce that time down to 3 years and 3 months and save my self, wait for it…$10,100 in interest payments.
I don’t know about you but I’m no Richie Rich. However, I can spend $80 ...
Read more »Get Back to School with First Foundation's Mortgage U!
September 15, 2011 by Jennifer Cookson
Welcome to Mortgage U!
Obtaining a mortgage can be an intimidating process for anyone, even if you’re a second or third-time buyer. The process itself often seems veiled in mystery and we don’t typically use mortgage terminology in our normal, day to day lives so much of it is Greek to even the most sophisticated of us.
As they say, knowledge is power and since we’re all about empowering our friends over here, grab your varsity sweater and check in every Thursday to First Foundation’s Mortgage U ( as in University) to update the gaps in your ...
Read more »Looking to expand our team!
August 4, 2011 by First Foundation
First Foundation is a young, exciting company in a rapidly-changing market and we’re looking to expand! With big plans to help homeowners, whether they are fresh, first-time buyers or seasoned and settled owners, we are looking for the right people to join us.
We are accepting applications for a Licensed Mortgage Associate and a Licensed/ Unlicensed Mortgage Assistant.
Check out First Foundation’s Employment Opportunities
As a company with a strong reputation to uphold, the winning candidates will be called upon to maintain and contribute to the company’s success and image in the community.
We’re looking for ...
Read more »President's Message - 2010 - The Best of Times...
July 29, 2011 by Gordon McCallum
…and the worst of times.
Last year was a very challenging year for many people. The economy was starting to bounce back a bit, but was still far from being on a stable footing. Even today there remains some uncertainty.
Many people were still struggling to find work or certainly the amount of work that they had been accustomed to in the boom times.
The real estate market was quite challenged at times too, with much more inventory on the market and uncertainty about values. A gradual softening of property values brought affordability back in line, but emotionally many buyers ...
Read more »Happy Canada Day!
June 30, 2011 by Gordon McCallum
Happy Canada Day on behalf of the entire team here at First Foundation!
We wish you and your loved ones a fantastic long weekend and hope that you take some time to appreciate the wonderful country we have, the great people who are the citizens of this nation, and the blessings and opportunities we have just for living here.
See you all on Monday!
Read more »Help Us Pick New Business Cards!
June 5, 2011 by Gordon McCallum
We’re running a competition over at 99 Designs to see who can come up with the best new business card design for our firm.
We’ve had over 35 submissions so far and these are the top 8, we feel. Could you help us out and vote for your favourite? If you have suggestions on how to improve and of them, let us know in the comments, or, if you’re a talented designer yourself, feel free to submit a design of your own for a chance to win the competition (and the cash!).
Need a Stationery Design? Check ... Read more »You're a smart cookie... WINNER!
May 11, 2011 by First Foundation
First Foundation is very pleased to announce the winner of our draw for “Free Cookies for a Year” from Cookies by George!
Congratulations to Danielle Graham who will be receiving cookies on a monthly basis for the next twelve months.
Thank you to everyone who participated in the draw and who took the time to talk to us about their refinancing options. Our goal with the campaign was to raise awareness about the possible savings that people could expect and to help our clients make an informed decision about whether or not to refinance. Based on your feedback, we believe ...
Read more »Home Buyer's Seminar
April 8, 2011 by First Foundation
Are you just unsure about the home buying process?
Finding the process just completely overwhelming? Confused about a few little things? Wish someone HAD the answer?
On Wednesday, April 13, First Foundation joins together with special guest, Schmidt Realty Group to reduce your home buying fears, get you the information and answers you need, and help get your started to fulfilling your dreams of home ownership. Even if you’re preparing to buy your second or third home, we want to help you out!
Please join us at 7pm at the Four Points by Sheraton Edmonton (South) and we’re ...
Read more »Press Release-Finalists at 2011 Canadian Mortgage Awards
February 21, 2011 by Gordon McCallum
FOR IMMEDIATE RELEASE
February 22, 2011
First Foundation Honoured at 2011 Canadian Mortgage Awards with Multiple Nominations
Edmonton, Alberta, February 22, 2011 – First Foundation is pleased to announce that it has been nominated for two awards at this year’s 2011 CMP Canadian Mortgage Awards. “It’s an honour to be recognized for the work we do,” says First Foundation owner and broker Gord McCallum. “Our achievements and success come from helping our clients and focusing on their needs, and these nominations are a reflection of that.”
The Edmonton-based independent mortgage brokerage has been nominated in the Best Internet Presence ...
Read more »Keeping Score on Your Credit Matters When It Comes to Getting a Mortgage
February 14, 2011 by Jennifer Cookson
Truth be told, the first step to buying a home is not to get a mortgage pre-approval; the first step is to get a good credit score.
It’s a fact that First Foundation can help you obtain a better interest rate on your mortgage, BUT ONLY IF you have a good credit rating. Our team specializes in arranging the best mortgages in Canada for people with good to great credit.
After all, it’s our belief that you should get credit for having good credit.
So, how do you build good credit and where does a credit score come ...
Read more »Smart Cookie Refinance Video
February 14, 2011 by Gordon McCallum
Happy Valentine’s Day!
We hope this finds you and your loved ones gazing into each others’ eyes and barely paying any attention to our latest Youtube video about our “Smart Cookie” refinance campaign. We hope you enjoy the video – but not too much! Focus on each other…
Read more »Call for Mortgage Broker Nominations!
January 14, 2011 by Gordon McCallum
First Foundation needs your support!
The 2011 Canadian Mortgage Awards are fast approaching and nominations close soon (January 21st, 2011). Help us to represent Alberta well at this event in Toronto by nominating us for one of the award categories.
First Foundation has been a finalist each of the past two years in the categories of “Best Customer Service”, “Best Internet Presence” and “Best Newcomer – Individual” but we have yet to win! We need your help to get us there again and would love a chance to bring home a prize.
Please consider us especially for ...
Read more »First Foundation's Online Mortgage Glossary
January 5, 2011 by Jennifer Cookson
Did you know that First Foundation provides a glossary of mortgage terms right on our website? We think that knowledge is power and we like our clients and our friends to be be empowered to make smart financial decisions for themselves and their families. And let’s face it – they don’t teach this stuff in school, although they should.
Whether you’re a first time buyer or have already had several mortgages, we’re sure you’ll gain a better understanding of the largest loan you’ll probably ever have in your personal name.
Test your own knowledge! Check ...
Read more »Got Five Minutes to Save Money on Your Mortgage This Year?
December 30, 2010 by Jennifer Cookson
With the new year on our doorsteps, many of us are thinking of the resolutions and goals we’d like to set forth for 2011. Here’s an excerpt from a timely article in the Globe and Mail about something probably appearing on everybody’s list – saving more money….
Another year has come and gone and you’re wondering how to improve your finances. You’ve relinquished your latte habit and given your shoe fetish the boot, yet you don’t seem to be able to save as much as you’d like. It’s too hard to trim expenses ...
Read more »Know Our Mortgage Lenders
December 10, 2010 by Jennifer Cookson
Once of the many advantages of working with a mortgage broker is the variety of lenders and their products that they have access to.
At First Foundation, we make a point of working with some of the best mortgage lenders in Canada. We do our best to select lenders that will work with us to make the mortgage approval process as stress free as possible for our clients an it’s imperative that hey provide terrific post funding service. We’d like you to get to know some of our leading business partners and today we’re introducing First National ...
Read more »My Top Five Reasons to be Thankful in 2010
October 8, 2010 by Jennifer Cookson
You know what I love about Thanksgiving? All of it. I love the turkey and the pumpkin pie and the leaves and the hot apple cider. I love that you don’t have to buy any presents or do any kind of preparation really, other than defrost your turkey. Best of all, it doesn’t offend anybody’s sensibilities and so it’s open to all to celebrate and enjoy. All you have to have to celebrate Thanksgiving is thankfulness. So here are my top five reasons to be thankful in 2010:
5) I found a recipe for pumpkin pie ...
Read more »What to Do If Your Boss Might End Up Wearing A Diaper in Public
October 6, 2010 by Jennifer Cookson
My boss may have to wear a diaper and suck a soother in public by the end of October and it won’t be his Halloween costume. Mighty humiliatin’, I might say. And mostly for me. I mean, here’s how polite conversation may go for me at this years Christmas parties:
” Oh, Jennifer, where do you work?”
” Um, First Foundation Residential Mortgages.” ( mumbled)
” Oh, First Foundation, right. Your boss is a big baby.”
I should clarify here that my boss, Gord McCallum has graciously volunteered to wear a diaper in public should the Alberta Mortgage Brokers Association ( AMBA) lose ...
Read more »Friday Feature - Mortgage Documentation - Property Verification
October 1, 2010 by Jennifer Cookson
Previously in this series, we took a look at the supporting documentation for the income and downpayment portions of a mortgage application. These two sections comprise the bulk of the documentation needed in this process but there is one important area left – Property. Lenders want to be sure that the property in question is as good an investment as we say it is on the mortgage application and they also want to be sure it is indeed the property we have indicated. This is done through three forms of documentation:
1) Purchase Contract – Whether you are purchasing a property listed ...
Read more »What's the Difference Between a Loan Officer and a Mortgage Broker?
September 28, 2010 by Jennifer Cookson
What is a Loan Officer?
A loan officer works directly for a bank or other lender; therefore a loan officer is limited to offering only the products available from that bank and are confined to their particular lending guidelines and procedures. A loan officer is not required to have a license to work in the mortgage industry and is typically given bank specific training. Some loan officers are paid a salary and others are commissioned based or some combination of both.
What is a Mortgage Broker?
Mortgage brokers differ from a bank loan officer as they don’t work directly ...
Read more »Seasonal Home Maintenance Help!
September 21, 2010 by Jennifer Cookson
You know you’re a grown up when:
1) Your tween-ager tells you not to you use the term “peeps” to describe his friends. This term has an age limit, apparently.
2) You thought the boy’s name was Beaver, not Bieber
3) It occurs to you that if you don’t turn on the pilot light in the furnace, no one else will.
Yep, the warmth, not to mention the actual survival of your family depends on you, the grown up. I know, I know…deep breaths…try not to think about it too much or you’ll lose ...
Read more »Friday Feature - Required Mortgage Documentation
September 17, 2010 by Jennifer Cookson
What kind of paperwork is your lender going to require when you are applying for a mortgage and why? In this “Friday Feature” series, we will take a close look at that documentation over the course of three articles – Employment Verification, Downpayment Verification and Property Verification.
Let’s get right to it and examine the paperwork required for “Employment Verification”. The purpose of supporting documentation is just that, really, to support or prove the information presented to the lender in the mortgage application. When we advise the lender that you are say, a salaried employee, we need to provide the ...
Read more »How Does A Mortgage Lender Decide How Much You Qualify For?
September 15, 2010 by Jennifer Cookson
When I first started in this business, my Mother asked me if we still based mortgage qualification on the calculation of two and a half times a person’s yearly salary. “Mooooom!”, I said, rolling my eyes. ” That’s the calculation for an engagement ring now a days! Geez -you can park your covered wagon over there!”.
Actually, I would never say that to my Mom. I let her park her wagon where ever she wants. Most people do. And the two and half month’s salary thing is a typical rule of thumb in the States, although I believe ...
Read more »Friday Feature - Home Insurance
August 27, 2010 by Jennifer Cookson
What Type of Insurance Do I Need? – Part Three – Home Insurance
In the past two weeks, we’ve discussed two of of the four types of insurance products you will contend with during the homebuying process. The first was Mortgage Default Insurance, known to many as CMHC but also provided by Genworth and Canadian Guarantee. The second was Mortgage Life and Disability Insurance and the third, which will be the topic of todays article, is Home Insurance.
Home insurance protects you and your lender from loss in the unfortunate event that your home is damaged or destroyed by fire, storm ...
Read more »First Foundation is Now Hiring!
July 19, 2010 by Dania Spillett
Opportunity Description
Position: Licensed Mortgage Associate
Start Date: August – September, 2010 (Flexible)
Position Duration: Full-Time Permanent
Hours: Monday-Friday, 9–5
Position Structure: Employee
Compensation: Salary Plus Commission and Bonuses
Expected Earnings: $60,000—$120,000 based on performance
Opportunity Summary
First Foundation Residential Mortgages, a leading independent mortgage brokerage based in Edmonton, Alberta, is seeking a great person to join our team.
Specifically, we are hiring one person to join our rapidly growing company in the position of a “Licensed Mortgage Associate”.
As a Licensed Mortgage Associate you will be involved in one of the most exciting times in our ...
Read more »It's a Great Time to be an Engineer in Alberta!
July 9, 2010 by First Foundation
With the average hourly salary above the national average and an unemployment rate lower than in most sectors, Engineering is a profession, along with a handful of others, with which most lenders feel very comfortable. These days there’s no better province than Alberta to be employed in so that goes double for Edmonton and Calgary Engineers.
Based on this profession’s solid reputation, First Foundation Residential Mortgages is launching a specialized program for Alberta Engineers and Engineering graduates. This exciting new program will provide Engineers in our province with an opportunity to have a Home Equity Line of Credit ...
Read more »We Are Now Offering Home and Auto Insurance!
July 7, 2010 by Dania Spillett
We’re excited to offer a variety of services in Edmonton, Calgary and throughout Alberta to satisfy your financial needs. As a result we have recently partnered with Marsh’s Private Client Services, a world leading insurance company, in order to provide a excellent and well priced home insurance and auto insurance. As a valued current or potential customer, we want to see that you fully protected by personal insurance, but not without paying more than you need. Our new insurance program provides access to discounted insurance rates while Marsh delivers added value through excellent customer services, benefits and other ...
Read more »Top 5 - WAIT, 6 Reasons to Get a Mortgage with First Foundation
July 1, 2010 by First Foundation
1) You save because we are 100% independent! We are not aligned with one particular mortgage lender or bank and more choice means a better mortgage! We have dozens of lenders to choose from and they only pay us if we are successful in helping you.
2) Finalist for the Canadian Mortgage Professional’s TOP Service Award in Canada in 2008, First Foundation’s Mortgage Associate Lisa Perrot was nominated for CMP‘s Best Newcomer in 2009 and we were nominated for CMP‘s Best Web Presence also in 2009 – our service speaks for itself!
3) Superior Experience and Efficiency ...
Read more »Words From a Happy Customer
June 22, 2010 by Gordon McCallum
We’re very fortunate to be doing what we do. We have the opportunity, as Mortgage Brokers, to meet so many neat people and to work with them in two very important parts of their lives – home ownership and their personal finances.
From time to time our clients will share their thoughts and feelings with us and give us permission to share it as a testimonial. After all, word of mouth is the best form of marketing – and we are a business after all, so we do need to toot our own horns from time to time.
This is the ...
Read more »A Mortgage Refinancing Success Story
May 21, 2010 by Dania Spillett
We love to hear from our clients about what we did right or what we can improve upon!
Dear Gord and Team at First Foundation,
I wanted to take a moment to send my gratitude for the service I received from First Foundation. I was in need of refinancing my home. We were coming to the end of our 5 year term, and looking at options.
After filling out a brief form on the website, I was contacted shortly after, by Lisa Perrot. Lisa and I discussed what I was looking for, and based on our conversation, presented me with ...
Read more »Edmonton Mortgage Experts Video
May 21, 2010 by Gordon McCallum
I recently had the pleasure of participating in a live webcast as a panel guest of Walter Schwabe’s from Fusedlogic.tv at Edmonton’s Golden Rice Bowl Restaurant.
Other guests on the panel included Sheila Hawkins from our firm, Stephen Lau, a local Realtor, and Kelly from CMHC. We had a chance to discuss all kinds of topics, including the current real estate and mortgage markets in Edmonton, mortgage fraud, tips for first-time homebuyers, and more!
Enjoy!
Read more »
Finalists for Canadian Mortgage Awards 2010
March 16, 2010 by Gordon McCallum
We’re pleased to announce that First Foundation is a finalist in two different categories at this year’s Canadian Mortgage Awards in Toronto.
We’ve been fortunate enough to be finalists for “Best Internet Presence” and Lisa Perrot, on of our Licensed Mortgage Associates, is a finalist for “Best Newcomer”.
Your support is what got us to this point, so we’re extremely grateful for the nominations and feedback that were submitted to Canadian Mortgage Professional Magazine who do such a great job putting on the event.
Your support could also really help us out because this year CMP ...
Read more »Canadian Mortgage Awards 2010 Finalists!
February 12, 2010 by Gordon McCallum
We’re very honoured and humbled to once again be finalists for the CMP Magazine Canadian Mortgage Awards 2010.
First Foundation is a finalist for “Top Internet Presence” and Lisa Perrot, one of our outstanding Mortgage Associates is a finalist for “Best Newcomer”. We’re very proud of her!
Last year we had the pleasure of being finalists for the “Best Customer Service” award presented by Merix Financial. While we didn’t win, we certainly enjoyed ourselves and were honoured to be amongst so many other great brokers.
Congratulations to all the other finalists this year and we look forward ...
Read more »Canadian Mortgage Awards 2010 - Call for Nominations!
January 10, 2010 by Gordon McCallum
In 2009 First Foundation was privileged to have been selected as a finalist in the Canadian Mortgage Awards for “Best Customer Service from an Individual Office.” We didn’t win, so we need your help to get back to Toronto this year and try again!
Canadian Mortgage Professional Magazine publishes the Mortgage Broker News as well as Canadian Realestate and they’ve been big supporters of ours and our industry.
We’re asking for your help! If you’ve worked with us in the past year and consider us worthy of a nomination, please visit the CMP Canadian Mortgage Awards ...
Read more »I look HOT in tights!
December 20, 2009 by Gordon McCallum
Merry Christmas! We hope you and your family have had a great year. At First Foundation we’ve got lots to be thankful for, so here’s a quick list in no particular order:
1. You! Our customers, for making 2009 our best year yet!
2. Our families, for putting up with us.
3. Mark Carney, the chairman of the Bank of Canada, for keeping interest rates low.
4. The Feds for mandating somewhat more reasonable lending policies.
5. Good honest hard working Albertans who take care of their credit – making it much easier to get them approved.
6. Our ...
Mortgage Testimonials
November 25, 2009 by Gordon McCallum
We’re very fortunate to have worked with some outstanding people over the past seven years of offering mortgage brokerage services here in Alberta.
Oftentimes these people are kind enough to send us a thank you email or card to express their gratitude for the service we provide. These are truly cherished and give us a lasting sense of accomplishment, long after we’ve spent the commission cheques.
This business can eat you up and spit you out at times because it’s very competitive, very intense, very time-sensitive and we’re dealing with large sums of other people’s ...
Read more »First Foundation Welcomes a New Team Member!
November 17, 2009 by Shayla Damery
First Foundation would like to extend a warm welcome to the most recent addition to our team – our new Business Development Manager, Lisa Keddy.
Lisa is originally from rural Nova Scotia. She has a background in public and private sector management, and more recently the financial services industry, which she’s been involved in since 1999.
Lisa’s focus at First Foundation will be creating and maintaining referral relationships with Edmonton’s professional community.
Welcome, Lisa!
Read more »Happy Canada Day!
July 1, 2009 by Gordon McCallum
We here at First Foundation would like to wish all of our customers, friends and family a very Happy Canada Day!
We’re proud to be a strong Canadian mortgage brokerage and happy to serve Canadians and newcomers to Canada.
Also, please note that First Foundation will remain open on Thursday July 1st from 9–5pm but will be closed on Friday July 2nd.
Enjoy your holiday!
First Foundation Has a New Look!
April 16, 2009 by Shayla Damery
As you may have noticed, First Foundation’s website just got a makeover! This new design has been months in the making, and we think the new site is a great improvement over what we had previously.
The site should now be easier to navigate, thanks to the tabs at the top of the page, as well as the big blue buttons mid-page for Pre-Approval, Mortgage Refinance, and Mortgage Application. The changing pictures are actually links, as well, so feel free to click around and explore!
While we think our new website design is a great improvement, we are always ...
Read more »First Foundation and Gordon McCallum - A Profile
February 27, 2009 by Shayla Damery
Back in November 2008, Canadian Mortgage Professional magazine did a profile on our very own Broker/Owner Gordon McCallum. We thought it would be neat to share with you some of the highlights of the profile to shed some light on how First Foundation got its start.
Gord had attempted opening a couple other small businesses, but they just didn’t take off, so he asked a Realtor friend if he had any ideas. That’s when Gord initially thought about opening a mortgage brokerage. Although at the time he hadn’t heard the term before, after some explanation from ...
Read more »Canada Revenue Agency Mail Scam Alert
October 10, 2008 by Shayla Damery
The Canada Revenue Agency (CRA) released an announcement recently, warning Canadians that fraudulent letters have been sent out. The letters ask for personal information to update the recipient's account with the CRA in order to redeem any tax claims that may be outstanding. The CRA has advised that this letter was not sent by the agency, but rather a third party attempting to obtain personal information from Canadians.
First Foundation takes the safety of our customers and their personal information very seriously, and sharing this CRA announcement with you is another way First Foundation is working to protect and ...
Read more »Thank You So Much!
July 7, 2008 by Gordon McCallum
Thank You For Making Me a Top 50 Broker in Canada!
I’m deeply honoured and humbled to have been recently named to CMP Magazine’s Top 50 Broker list in Canada (PDF). Needless to say it was a surprise to be on the list – let alone as high as #16. I’m thankful to all of our customers who have chosen us to arrange their mortgages for them and to our lending partners, who make it easy for us to compete with the big banks. Not only that, I’m really grateful to my staff who do a wonderful ...
Read more »
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