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Blanket Mortgage
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Other Resources |
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FAQ Section
Visit our FAQ section for more mortgage information.
Rates
If you are looking for mortgage rates, click here
| | Get the cash you need by securing your loan or line of credit with your property. You will:
Pay legal fees only once
Add to it without the formal process
Have the flexibility to borrow when you want
You can access up to 90% of the value of your home to finance your personal borrowing with a Blanket Mortgage. Once in place, you decide how and when you'll use your available credit. You get the advantage of better rates secured by the equity in your home. So you finance not only your house at this lower rate but also other things that will make a difference in your life.
Under your Blanket you may have a mortgage, loan, and/or line of credit. Think of it as a blanket wrapped around all of your lending needs, under one credit limit, and secured by the equity in your home. And you can set your own repayment plan.
You may even split your borrowed amounts between a fixed rate for some portion and a variable rate as low as prime for the remainder. You can even take up to 25 years to repay.
Penalty-Free Payment Options:
With a variable rate you can pre-pay anytime
15% pre-payment on your fixed rate mortgage is permitted once per year
Double your payments every month without penalty
Other Advantages:
You can be pre-approved with a 90 day rate guaranty
Life, Disability, Loss of Employment and Critical Illness insurance are available
Weekly, bi-weekly, or monthly payment options
Genworth Financial Home Buyers Privileges
The Blanket Mortgage moves with you - when selling your home you can carry the value of your existing mortgage to your new home.
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Buying your first home? When you are approved for an OMISTA mortgage on your first home you'll receive an OMISTA Home Book - a guide to all things home.
Only available while quantities last!
What are some other costs you can expect when purchasing a new home?
| Apply Online
If you are interested in applying for any of our financing products please complete our on-line application form by clicking here. An OMISTA Expert will contact you within 2 business days to review your application and process your request.
Wise Financial Guidance to Empower you
That's our difference. Every OMISTA Credit Union product, from mortgages to chequing accounts, comes with wise financial guidance. OMISTA's Financial Service Experts provide solutions to empower you to make the best decisions for your financial future. Everyone gets an expert (Not just the rich and famous).
We’d love to hear from you, so feel free to pick up the phone or head to the branch to speak with an expert today.
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