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My Rates

6 Months 4.75%
1 Year 2.69%
2 Years 2.69%
3 Years 2.69%
4 Years 2.69%
5 Years 2.79%
7 Years 2.99%
10 Years 3.04%
*Rates subject to change and OAC
AGENT LICENSE ID
M17000226
BROKERAGE LICENSE ID
11947
Nancy Blakely, BComm Mortgage Agent

Nancy Blakely, BComm

Mortgage Agent


Phone:
Address:
711 Ontario Street, Cobourg, Ontario

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Mortgage Financing Made Easy: Relax, while I find the best mortgage for you

 

I have access to many different mortgage products and unpublished special rates from banks, credit unions, monoline, alternative, and private lenders. I can find the best mortgage or line of credit for you whether you are looking for a residential, multi-residential, or commercial loan for a new purchase, refinance, renewal. 

 

I can accept applications through this secure online website if you click the "apply now" button, or otherwise I will be glad to take your application over the phone or in person, whatever is easiest for you!  Mortgage financing is made quick and easy with e-signatures whenever possible; therefore, I can broker a moretgage anywhere in Canada! 

 

It is important to understand that mortgage products can vary quite a bit from lender to lender in order to meet the various needs of borrowers.  For instance, in addition to standard mortgages, I have lenders that offer

  • borrowed down payment;
  • residential mortgages to borrowers who own multiple rental properties;
  • interest only loans;
  • good terms for a loan on a mobile home;
  • Manulife One--An excellent mortgage and or Line of Credit for investors, business for self, seniors, and family;
  • CHIP and Income Advantage reverse mortgages to seniors age 55+;
  • NEW *** Equitable Reverse Mortgage for seniors age 55+;
  • mortgages to borrowers who have declared bankrupcy in the past or have just been discharged from a consumer proposal;
  • mortgages to those who need to use child tax credit or other payments to support income;
  • mortgages to borrowers who are self-employed with stated income;
  • commercial loans; and
  • the list goes on.                                                                                                                                                                                                                                                                                                             

I have the flexibility to meet your needs whatever they are.  Simply put, as an Independent Mortgage Agent, I offer you more choices and an unbiased opinion.

 

 I also offer an excellent Mortgage Protection Plan from Manulife at an affordable price.  It is worth noting that the best thing about the Manulife Mortgage Protection Plan is that the plan is not discontinued if you move to a new home and or you refinance with another lender.  If you purchase the plan through me, the plan stays with you as long as you have a mortgage on a property even if you move and or change the mortgagee.

 

Contact me today for your free consultation!

 

Following is a Brief Description of Reverse Mortgages for Senior's age 55+

 

     There are different products available to help seniors over the age of 55 live comfortably in their own home if they do not qualify for a standard mortgage.  The HomEquity CHIP and Income Advantage Reverse Mortgages, Equitable reverse Mortgages as well as the Manulife One Line of Credit are all good products to help seniors who need a little extra cash to make their lives more pleasurable.  

 

     If you or someone you know might benefit from a reverse mortgage or other financing available to seniors, please call me.  I will be glad to explain the products in more detail on the phone or in person. Following is a bit of information.

 

     Did you know that seniors can get as little as $500 a month tax free income from the equity in their home through a Reverse Mortgage?  And you do not need to income qualify for a reverse mortgage like you do with a standard mortgage.  As long as you own your home you will qualify for a reverse mortgage up to a preprescribed amount that is based on the age of the applicants, the location  and value of your home.

 

     Adding $500 tax free to your monthly income could make your life so much more enjoyable. Conversely, $6,000 is not a lot of equity to take out of your home over the course of a year especially considering the value of your home today.

 

     I feel very strongly that the reverse mortgage is an excellent tool to help seniors live independent, comfortable and happy in their own home for as long as possible; particularly, in situations where the home owner is experiencing health issues and suddenly has unexpected expenses, or worse, suddenly is living on a single pension. This product is an excellent tool to help seniors through difficult times.  The payments can be started and stopped as need be.

 

     If you are struggling to make ends meet on a pension, for whatever reason, I highly recommend that you consider a reverse mortgage. With this product, you choose how much money you need monthly to live comfortably and, if you need a lump sum for home repairs or a well-deserved vacation, then you can also take a lump sum at any time you choose.

 

     I am also a CHIP reverse mortgage specialist among many other mortgage products. With the CHIP reverse mortgage, you could receive a larger tax free lump sum amount out of the equity of your home anywhere from $25,000 to 55% of the value of your home in most cases.

 

     With either product, there is no need to make a payment all the while you own your home but, if your situation changes and you wish to make payments or want to pay the mortgage off later, and then you have the option to do that too.  Maybe you will win the lottery!! lol

 

     I have access to many different products from multiple lenders including unpublished special rates on standard mortgages, lines of credit designed specifically for seniors, or private mortgages. I am a certified mortgage specialist in Canada for most products but Ontario for the revere mortgage. I am customer focused and will do everything in my power to ensure you are served well.

 

     Another product that is good for seniors who feel that they would like the flexability of a loan to consolidate debt, pay for home repairs, or unexpected expenditures is the Manulife One Line of Credit.  Manulife One offers very competative rates, and, interest is calculated differently than the major banks in a manner that makes their Line of Credit more advantageous for the borrower.  A borrower must income qualify for the Manulife Line of Credit, but the company is flexible.  More often than not, seniors who do not qualify for a standard mortgage, will qualify for the Manulife LOC.  

 

     I will be glad to give you more information about any of these products that are available to help seniors.  I also am pleased to give a short 5 or 10 minute group presentation to briefly explain the products at meetings if you wish.

 

     Please contact me by clicking the contact button on my webpage or call 1.833.269.3721 or my cell 905.269.3721 to arrange a complimentary meeting at your convenience.

 

     I look forward to speaking with you.

Sincerely,

Nancy

Cobourg, Port Hope, Northumberland, Belleville, Trenton, Brighton, Colborne, Peterborough, Durham, Bowmanville, Oshawa, Pickering, Whitby, Newcastle...I will visit seniors if need be in order to make their application process easier!

 

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BLOG / NEWS Updates

Bank of Canada maintains overnight rate target at 1 ¾ percent

The Bank of Canada today maintained its target for the overnight rate at 1 percent. The Bank Rate is correspondingly 2 percent and the deposit rate is 1 percent. The Banks October projection for global economic growth appears to be intact. There is nascent evidence that the global economy is stabilizing, with growth still expected to edge higher over the next couple of years. Financial markets have been supported by central bank actions and waning recession concerns, while being buffeted by news on the trade front. Indeed, ongoing trade conflicts and related uncertainty are still weighing on global economic activity, and remain the biggest source of risk to the outlook. In this context, commodity prices and the Canadian dollar have remained relatively stable. Growth in Canada slowed in the third quarter of 2019 to 1.3 percent, as expected. Consumer spending expanded moderately, underpinned by stronger wage growth. Housing investment was also a source of strength, supported by population growth and low mortgage rates. The Bank continues to monitor the evolution of financial vulnerabilities related to the household sector. As expected, exports contracted, driven by non-energy commodities. However, investment spending unexpectedly showed strong growth, notably in transportation equipment and engineering projects. The Bank will be assessing the extent to which this points to renewed momentum in investment. CPI inflation in Canada remains at target, and measures of core inflation are around 2 percent, consistent with an economy operating near capacity. Inflation will increase temporarily in the coming months due to year-over-year movements in gasoline prices. The Bank continues to expect inflation to track close to the 2 percent target over the next two years. Based on developments since October, Governing Council judges it appropriate to maintain the current level of the overnight rate target. Future interest rate decisions will be guided by the Banks continuing assessment of the adverse impact of trade conflicts against the sources of resilience in the Canadian economy notably consumer spending and housing activity. Fiscal policy developments will also figure into the Banks updated outlook in January.

Gross domestic product, income and expenditure, third quarter 2019

Real gross domestic product (GDP) grew 0.3%, following a 0.9% increase in the second quarter. Third quarter growth was led by higher business investment and increased household spending, boosting final domestic demand by 0.8%. Expressed at an annualized rate, real GDP advanced 1.3% in the third quarter. In comparison, real GDP in the United States grew 1.9%. Business investment rose 2.6% in the third quarter, the fastest pace since the fourth quarter of 2017. Growth in household spending accelerated to 0.4%, after rising 0.1% in the second quarter. These increases were moderated by a 0.4% decline in exports, while imports were flat. Non-farm business inventories were drawn down by $550 million in the third quarter, and the economy-wide stock-to-sales ratio hovered at 0.84. Cannabis inventories contributed to the $4.9 billion accumulation of farm inventories. Housing investment accelerates Housing investment rose 3.2%, the fastest pace since the first quarter of 2012. The increase was driven by both new home construction (+3.3%)mostly single-detached homes in Ontarioand higher ownership transfer costs (+8.7%) from increased resale activities in British Columbia and Ontario.

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