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Natalie Wellings: Edmonton Mortgage Broker
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Guiding you the way home! Call me to apply.
Guiding you the way home! Call me to apply.

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Natalie Wellings: Edmonton Mortgage Broker's posts

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Why you should not panic about the recent rate increase...

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Product Spotlight: Reverse Mortgages offered by CHIP

Do you know a senior who is feeling anxious about their financial future? I offer CHIP Mortgages, through Home Equity Bank. Home Equity Bank has been providing quality financial solutions for seniors for more than 25 years.
How does a CHIP Mortgage work?

• You can access up to 55% of the value of your home: the amount of equity you can withdraw depends primarily on your age as well as other factors such as the type of home you own (condo, single family) and where the property is located.
• You always maintain ownership of your home and never have to move or sell: you DO NOT sign your title over to CHIP. CHIP will register a mortgage on the title to your house (same as with a regular mortgage) but you retain ownership of the home. CHIP will never force you to sell or move. You stay in your house, for as long as you want (as long as your property taxes and insurance are up-to-date).
• There are no payments required: this is the beauty of the CHIP solution. You never have to make a payment or sell your home. The interest costs will be added into the mortgage balance, over time.
• You can receive your tax-free cash over time or one lump sum: you can receive a monthly payment or a one time lump sum amount.
• NO tax implications: One of the major benefits of a CHIP reverse mortgage is that utilizing the equity in your home has no tax implications so it can often be more advantageous to use your home equity before withdrawing funds from your investments or RRSP.

It is a sad reality that there are many seniors in Canada who own their home and are struggling because they do not know about this product or do not fully understand the benefits.

This product allows the borrower to stay in the home they love, while being able to access the equity in their home without having to make any payments.

There are many misconceptions about reverse mortgages. Often this comes from the US, where this type of financing can be quite different. If you would like more information or clarification on the process of obtaining a CHIP mortgage please reach out to me. I would be happy to provide you with more information.

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No change to key interest rate- Bank of Canada

Once again, the Bank of Canada announced that it is maintaining its target for the overnight rate at ½ percent, despite stronger-than-expected global and domestic economies.

While the global economy is exceeding the Bank's January expectations-and the US is similarly experiencing solid growth-the Bank believes there is still an element of uncertainty around the global outlook. Similarly, Canada's economic growth has been faster than predicted back in January, something the Bank attributes to a boost in spending in the oil and gas sector as will as increased consumer spending resulting from the Canada Child Benefit. While the Bank finds this increase in GDP "encouraging", it isn't prepared to declare the country on a "sustainable growth path".

With CPI inflation currently at the Bank's target of 2 percent, the Bank expects it to dip in the months ahead before returning back to 2 percent later in the year.

Because of all this-and the fact much of this good news could be "temporary"-the Bank has opted to maintain its current rate. If you have any questions regarding interest rates-or any questions regarding your mortgage at all-please feel free to drop me a line at 780-722-6287.

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Merry Christmas and thank you!!!
The best part of the Christmas season is that work slows down enough that I can take some time to reflect on what has happened in the last year. 2016 was a great one, despite the rough times in Alberta’s economy. I feel so blessed!
I want to take a moment to thank everyone that has contributed to my success in 2016. I am truly grateful for the people I have the privilege of working with every day, including those behind the scenes that work so hard to make my job look easy! My clients never get to speak with the underwriter or lender rep who dedicates so much effort into getting their loan approved. Let me tell you, I could not do it without their amazing service and expertise!
In the spring of 2017 it will be 10 years since I started out in this crazy business. Over the years, I have had the privilege of getting to know some truly dedicated and hard working Realtors who work tirelessly, at all sorts of crazy hours, for their clients. They do not have an easy job but the great ones make it look that way. Thank you to my Realtor partners for your many referrals in 2016!
This can be a stressful job but I love it. I am humbled to be part of such an important time in my clients' lives, helping them to buy a home and navigate the often-complicated process of obtaining a mortgage. I count my many, many blessings. This is an amazing job! Thank you to my clients for trusting me with this huge purchase.
Merry Christmas and a very Happy New Year!

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