In Barrie, second mortgages (2nds) are an increasingly popular means of obtaining loans to cover unexpected expenses. A Barrie second mortgage can be used to pay off past due credit card bills, over due property taxes and many other expenses. To get more information on second mortgages in Barrie please call us for a free consultation.
Second mortgage interest rates are generally higher than first mortgage interest rates. To get the lowest interest rate on a second mortgage mortgage you will need a property with a low loan to value ratio. Most second mortgage lenders base the interest rate on the loan to value ratio, a loan to value ratio below 60% will help you get the lowest 2nd mortgage interest rate.
Our mortgage brokers in Barrie understand the local real estate market and the property values. We provide each client with various borrowing options and help our client make an informed choice. There is no upfront fee for using our service. Our mortgage brokers will work to get you the best deal possible on your mortgage or second mortgage in Barrie.
A private lender is a viable route for those who, for whatever reason, are unable to obtain a more traditional loan. Many people are understandably wary of private lenders, but it is important to note that private lenders, much like mainstream mortgage brokers, are more often than not fair and sensible people, though their collective reputation has been damaged by a couple of unfavorable characters. We hold our private lenders to the highest standards and would not recommend anybody we did not have the utmost faith in. A major benefit of private lenders is that most can tell you if you qualify for a loan in minutes, leaving you plenty of time to seek alternative funding should it be necessary.
If you’re buying or selling a home in the area, it’s a good idea to seek out a trusted Barrie home appraiser to give you an estimation of the property’s value. Obtaining an accurate appraisal of a property can often be a little tricky, but it is generally reached by examining the price tags of similar and recently sold properties in the area.
A lot of people don’t realize mortgage refinancing is an option for them as they are unsure just what it is. Mortgage refinancing is the process of substituting your current mortgage – it can also apply to more than one mortgage – with a new one. More often than not, the new mortgage will have different terms than the ones which it is replacing. Refinancing can be difficult and a lot of people find themselves in way over their head while trying to organize a mortgage refinancing. Be sure to get in touch with us so our team of experts can help guide you towards an agreement which is right for you!
If you’re considering a move to Barrie, you should probably familiarize yourself with your potential new home. Barrie is a city in Central Ontario, Canada, with a population just north of 135,000. Every year, thousands of tourists flock to the city to take in the breathtaking sights while enjoying a vibrant performing arts and nightlife scene. Barrie is a culture hub and boasts famous residents from all walks of life, including journalist Stevie Cameron and former professional wrestler Smith Hart. It is even the scene of the Barrie Film Festival, which plays out of the Barrie Uptown Theatre and has ties to the Toronto International Film Festival.
The prices of homes in Barrie seem to be perpetually on the rise. The demand for homes continues to grow and so, predictably, prices reach new heights every year. Call us to get more information on a Barrie second mortgage.