Our team in Hamilton can help you open a second mortgage which is a secured loan that sits behind your existing mortgage. If you’ve got some equity built up in your property, then we can help you tap in your existing inactive equity, whether your credit rating is excellent or bad.
A second mortgage can help you improve your credit score. It can also help you to put an end to high-interest debt. Second mortgages can help you with a whole range of other financial needs. With a second mortgage, the possibilities are unlimited and you can fulfil your dreams by an asset you already own.
Hamilton located on the western tip of Lake Ontario is a Canadian port city. The city is divided by the Niagara Escarpment, a huge, forested ridge dotted with conservation areas and waterfalls known locally as “the mountain”. The long-distance Bruce Trail runs along the escarpment. Hamilton is home to the HMCS Haida, a naval warship docked on the city’s lakefront, the Canadian Warplane Heritage Museum in the south, McMaster University which is ranked 4th in Canada and the Mohawk College.
Hamilton traditionally being a lower-priced market will experience a shift taking place as outside investors are discovering the value of the real estate in the city. While properties are still affordable in Hamilton compared to major markets like Toronto, it may not be like that forever. The city is a fast growing market and isn’t showing signs of slowing down. A record number of homes were sold in December of 2015. Residential sales of 752 units were 1.9 % higher than the same month the year prior. Residential freehold sales were 3.2 % higher than the previous December while sales in the condominium market decreased by 3.4 %.
Hamilton has a wide range of homes from small one bedroom to estate size property. House prices can range from below $100,000 for a condo to over $1 million for the large homes. Downtown Hamilton has older and smaller homes which have a lower market value. Finding a second mortgage broker in Hamilton can be extremely helpful if you’re looking to purchase a condo or house in Hamilton. With our expertise and knowledge, Mortgage Broker Store will handle all rate negotiations to ensure that you receive the best financing needs and second mortgage rates in Hamilton.
If you are looking for a second mortgage and are unable to get a loan from a bank then you can look into getting a private second mortgage. Even if you have a bad credit, Mortgage Broker Store can assist in opening a second mortgage with a lender that handles bad credit loans. We have a network with a large number of private investors and lenders who have helped our clients with private second mortgages. Most private lenders look at the loan to equity value in your home as key factors in approving a mortgage. We have private lenders that will finance a home for up to 85% of its value.
Purchasing a home is one of the biggest investments in a lifetime and a home with unknown problems can wind up being a real hassle and source of financial strain. Hence it is prudent to have a good home appraiser’s phone number ready before you put an offer on the house you like.
A Mortgage refinancing in simple terms means a transaction that lets you swap out an existing mortgage for a new better mortgage. Your new mortgage pays off the old one, and you start making payments to a new lender.
Refinancing can improve your financial situation. It can help you lower your monthly payments, lower lifetime interest cost, get cash out for other purposes and also to consolidate debt to get tax benefits.
If you are considering refinancing, call our representatives at Mortgage Broker Store to work with you in finding a solution best suited for you.