I think it’s really important now 35 years into my career to give back, put a face to this industry, to women in mortgage, so that the young generation can look up to me and go, “I can be her. The sky’s the limit.” I think the reason New American Funding is as great as it is today is because of the contributions of every single employee we’ve hired. I developed “If You Want to Grow, I Want to Know,” and the reason I did this is because I think sometimes we’re so busy doing and working that we’re not listening to our employees. So I also am very inspired by people and their ideas and their thoughts and their dreams and so we developed a program called “NAFovator” so that way Rick and I can listen to the ideas that the young generation has.
They see things in such a different way. We need to see it, so they have a platform where I invite them to pitch their business ideas to Rick and I. So another question I’m asked a lot about is the diversity that New American Funding has in their C-suite. We have 40 percent women in our C-suite. You have both male/ female employees, so they need to have both male/female leadership to look up to. So I’m often asked to speak across the country at events much like ones that New American Funding holds which are called “Thrive and Lead” that are targeted towards women. So I share my stories both in business and personal so they can connect with me at some level to realize that there is a path of success that’s there for them. My gift is to give my time to them but their gift to me is the fact that they even listen to me! that’s why I like it.
Should You Go With A Fixed Or Variable Mortgage Rate?
If I was getting a mortgage right away, I would probably get a variable, because it sounds flexible. I saw the rates fluctuating quite a bit and I didn’t want to commit to a variable mortgage for that reason. I recently just got the mortgage. The interest rate was going up, so there was quite a lot built in in terms of implied volatility the one that’s fixed. I was aware of the benefits of the variable mortgages, but I just felt it was too volatile for my personal situation. Whether you’re renewing your mortgage or buying your first home, your mortgage will be one of the biggest financial decisions you make.
Feeling confident you’re making the right choice about the type of interest rate means you’ll be more comfortable affording your home and your life. If you’re concerned interest rates could rise in the future, then a fixed rate mortgage may be a better option for you because your rate won’t change during the term. However, if you’re prepared to manage the possible interest rate increases and what that means in terms of how much principal you’re repaying each month, a variable rate mortgage could help save you money in the long term because more of your payment would go towards principal. This will, of course, depend on your lender and their conditions and remember, if you choose a variable rate mortgage and rates start to go higher than you’re comfortable with, many financial institutions, including TD, offer the option to lock into a fixed rate. Before deciding which rate is right for you, we recommend talking to a TD mortgage specialist.