Wondering whether you can get a second mortgage on your property in Milton? Our team of experts have a solution just for you! With a second mortgage, you will qualify for another loan on the basis of your home equity, which means that you can finance your business, pay off your credit cards, renovate your house or pay for your child’s university fees.
Our Milton team has vast knowledge and experience in the mortgage market in Milton, and having arranged for second mortgages for a number of Milton residents, you can be sure that you are in safe hands.
A common problem faced by home owners when trying to get second mortgage financing is thorough scrutiny by mortgage lenders who are quick to disqualify in the event of debts and low credit scores. Furthermore, a number of private lenders have very strict requirements which lock many home owners out of obtaining second mortgages. We have good networks with trusted and reliable private lenders and have assisted clients with low credit scores in the past. Even with debts or bad credit, our team may still be able to help you get a second mortgage.
Before taking a second mortgage, it is crucial to get your home appraised. The purpose of the home appraisal is to estimate the market value of your home. The home appraiser establishes the sale price of other houses in the neighbourhood and makes slight adjustments to factor in the current state of your house. The mortgage lender will use the appraisal in deciding whether or not to approve a mortgage application, and exactly how much money may be borrowed.
Some mortgage lenders offer mortgage refinancing options, which will enable you to pay off the outstanding balance on your existing debts and replace them with a new mortgage. If you have very high-interest debts, you will save money by refinancing these debts into a lower rate second mortgage. Based on your home’s equity, you will be able to access funding. Our team can be able to connect you with low second mortgage rates in Milton.
Milton, located in the Halton Region of Southern Canada, and near Downtown Toronto and the Niagara Escarpment, is one of the fastest growing towns. Between the year 2001 and 2006, the municipality witnessed a 71.4% increase in population, making it the fastest growing Greater Golden Horseshoe municipality for the period. It currently has a population of about 125,000 people. The municipality has a rich history, with settlement dating back to the 1800s. In fact, it is these early settlers who gave the town its name, in honour of the English poet John Milton.
Milton is serviced by a number of roads including highway 401, Highway 407, Highway 25, Derry Road and Brittania Road. Town dwellers also take advantage of the Milton Transit and the freight trans available at Oakville Station. Milton is home to a number of schools, conservation and recreation parks, and local events, the Milton Fall Fair and the Milton Steam-Era to name but a few. Established as an industrial and farming town, Milton still has a strong industrial presence with head offices and divisions of key Canadian companies located in the town.
Milton is divided into communities based on traditional neighbourhoods such as Hawthorne Village, Dorsey Park, Valley View, Old Milton and Dempsey. Hawthorne village, also known as Harrison District, is one of Milton’s fastest growing neighbourhoods and Milton’s real estate best seller and houses an estimated 3,500 families. Dempsey is named after one of the initial inhabitants, John Dempsey, an Irish immigrant and one of the pillars of the town’s development in the 1800s. There are also new neighbourhoods such as Ford, Coates and Clarke, and quite a number of neighbourhoods under development such as Bowes, Willmott and Walker intended to house Milton’s growing population.
Depending on the location, housing prices in Milton range from $500,000 to $1,500,000 for a 3 bed, 3 bath house. Detached houses cost between $600,000 to $1,000,000 on average, semi-detached houses and townhouses between $400,000 and $800,000 and apartments go for $300,000 to $400,000. There are about 28,000 private residences in Milton, with 84% of the population estimated to be homeowners.