Financial Fitness First: Unlocking Homeownership Benefits Through Smart Money Habits

daring member of the month Oct 06, 2023

Each month, we select one of our Impact Tribe members to be our “Daring Member of the Month,” and today I'm excited to introduce you to Mortgage Specialist, Nicole Goyette. Nicole is such a joy to have in our regular meetings, and we’ve loved watching her grow her uniquely impactful business along the way! 

Today, Nicole and I will be discussing how you can:

  • Build confidence in your actions and decisions through early guidance from a mortgage specialist, well before you plan to borrow.
  • Use mortgages in different ways beyond buying your main home.
  • Explore the synergy between your fitness routine and the path to financial wellness.

Meet Nicole Goyette

The dynamic world of real estate financing is akin to the challenges of middle school and high school: both involve navigating complex systems and building relationships, all with potentially high stakes. With over a decade of experience educating 6th-12th grade students, her professional background is what sets her apart in the mortgage industry. She is uniquely equipped to provide empathetic guidance as a powerful complement to the technical aspect of number crunching.

As an independent mortgage broker backed by Edge Home Finance, Nicole excels at simplifying the daunting tasks required by lenders. Her specialty is crafting clear steps for clients while tailoring them to unique backgrounds. A lifelong athlete, she motivates others with clarity and inspiration. This skillset alleviates clients’ anxieties and dispels uncertainties that are common throughout the mortgage process.

She tackles the current market's challenges with a blend of realism and optimism. Through the power of personal rapport, she aims to turn the current market into a valuable learning experience: not only does she help secure the right mortgage for today but she illuminates ways to adapt for tomorrow.

Q: How did you get started in your field?

In 2017, Nicole found herself in pursuit of buying a home, only to have a terrible experience with her mortgage specialist – with no way out. After the closing, she felt confused about where her money actually went, and felt a little taken advantage of. In 2021, she refinanced her home with the help of a mortgage specialist who saw her deep interest in the entire process. From the prompting of an almost-stranger simply asking her if she had any interest in becoming a mortgage broker to taking the leap and building a successful career there, Nicole now helps her clients navigate the mortgage market with ease and confidence. 

Q: Who do you love to work with to help find a home?

At the root of who she is, Nicole notes that she is a problem solver. Her ideal client is someone who either has a clear goal, or a problem to be solved, and just doesn’t know how to get there. They need just a little bit of hand-holding to make their dreams a reality. Nicole shares that this is common for both first time home buyers and first time investors who are navigating a new-to-them market. 

Q: What is the biggest problem your clients are facing, and how do you support them with that? 

The mortgage process is extremely particular and detail-oriented, and there’s a common misconception that people are supposed to be okay not understanding it. 

Nicole offers demystification and assurance that on one of the biggest purchases you ever make or lines of credits you ever borrow, you deserve to know how the process works and understand how the steps are connected and why you’re following the steps you’re taking. 

The average American is going to have 11 mortgages in their lifetime, whether through buying a new home or refinancing. Nicole’s goal is to help her clients be more critical and adept each time around. 

Q: What does “early” mean in the home buying process? And what do we pay attention to in the early stages of the process?

Her motto is that there’s no such thing as too early to start thinking about buying a home. There are a lot of people out there who sign up for a 5k without ever having run even one mile – but there’s actually a lot of preparation that goes into getting you across that finish line. Similarly, mortgages have become an arena where people need a lot of coaching. In order to be able to enter the market, you need to have a deep understanding of your financial background and be willing to put in the work it takes to get to a place where you’re able to buy a home. 

Nicole is almost like a coach for her clients, helping them plan and work towards the goals they want in the future. She provides her clients with encouragement, knowledge, and tools to help her clients get where they want to go. 

The first step in the process is to shed unwanted debt – the amount you qualify for is directly correlated to the amount of debt you carry. Next, it’s time to shape up your credit score. With a system in place she can help you take your credit score from 650 to 750 so you can more easily qualify for a mortgage. In mortgages, they look for discipline, follow through on the action plan, and active work towards getting yourself out of debt. 

Q: What are other ways to use your mortgage beyond buying your primary home?

Home ownership is something that really helps people build wealth over time. There are a lot of hidden strategies that can be used - such as your mortgage compounding on itself to be a launching off point for future purchases. 

People who are interested in building wealth across a couple different properties may buy a home, live in it as their primary residence, then cash out some money from the mortgage and use it as a down payment for a second house. This allows people to avoid the 15-20% down payment on a home. Because of this, there are people building a lot of investments in being able to take equity from their home and move that into future purchases. 

It is not uncommon for Nicole to meet with people who have 70-90k in debt, but are still interested in taking big steps for their businesses as solopreneurs. She finds that when so much of your time is going into building your business, it’s helpful to have extra investments and revenue streams to help you out along the way. It’s no secret that building a business takes capital, so having that extra wealth-building is a great way to boost your capital and support you through the process of building your business. 

Q: Do you have any helpful tips to share with us?

Nicole traces her first tip back to pandemic lockdowns. During that time, people weren’t saving up for big investments, or traveling, and as a whole we have gotten “lazy” with our financial habits, on top of inflation causing us to spend more than we’re bringing in. She finds that through her networks, most mortgage brokers are now talking with their clients about spending and saving habits – coaching them on how to recover financially from the shutdowns. 

Her best tip is to track your spending habits if you have any ambition to have a mortgage in the future – you need to have a good grip on how much money is coming in, and how much is going out. Go through your credit and debit card purchases, and look at everywhere you’re spending cash. First, look at your money left over at the end of the month and how you can use that to prepare for your home, then you can look at where to trim the fat to reach your goals. 

Q: What does Daring mean to you?

Nicole says that her idea of daring changes every day. But on the whole, it means trying to get better by just a little bit every single day – stretching yourself for the potential of growth and who you’ll grow into. 

Q: What are you most excited for right now in your business?

Nicole is excited that business is a little slow right now for everyone in her industry. But, that means having a captive audience – which she loves because she’s able to speak with them in a completely different way than before. She’s recently committed herself to establishing her Instagram presence to show up for her audience, and she can help people answer their preliminary questions in the mortgage building process. 

Q: How can someone get in touch with you?

You can visit Nicole on Instagram @leadingtoyourloan, or reach her via call or text at (720) 541-5190, or email her at [email protected] 

If you want to join Nicole and other amazing members in the Impact Tribe, we would love to welcome you! When you join the Impact Tribe, you get access to a library of brand-building courses, time-saving resources, an uplifting community of women entrepreneurs and so much more! Learn more and join us today at this link.


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