It is possible to take out a loan on a property with an existing mortgage and this loan is refered to as a second mortgage. Second mortgages are a popular option for people trying to cover emergency bills, pay for tuition or home renovations. The principle is simple in that the last mortgage holder can only get paid after all the rest have been paid off.
Mortgage brokers
A Haldimand mortgage broker works hard to find the most suitable mortgage for each client. Interest rates and fees are very important in finding a second mortgage loan and in Haldimand, most lenders provide loan: value ratios of 75% and anything past that point is deemed ineligible for credit.
Private Lenders
When every lender turns you down you can only turn to private lenders for financing. As an alternative source of financing, Haldimand Private Lenders provide you with loans with flexible terms of payment that others struggle to match. Our business strives to work with specialised mortgage brokers on all branches and Haldimand is no exception. Through a speedy process, our private mortgage brokers are able to tell you whether you qualify for a loan in a matter of minutes.
Home Appraisers
Appraisals are an important step in determining the amount of loan a client may receive. The second mortgage lender has to get an appraisal of your home to understand its value. Property value is determined by the most recent selling price of similar pieces of real estate around it. Home prices fluctuate very much in Haldimand so lenders demand valuations that are no more than six months old. The higher the property value, the more likely that you will be able to borrow more money to solve your immediate needs.
Mortgage Refinancing
Refinancing a home mortgage loan means that you pay off all existing debt in exchange for a fresh mortgage loan. A home is no doubt a valuable asset that you must protect before working with private refinancing lenders. The right professional will inform you about the benefits and risks to help you make the right decision.
It all comes down to working with reputable players in the industry who put your needs way ahead of the paycheck. Our team provides much-needed assistance to Haldimand residents. We have the necessary experience and skills to make sure that the decision to seek mortgage refinancing is indeed the right one.
Haldimand information
Haldimand County is locationed on the Niagara peninsula in Ontario, Canada. The last census in 2011 showed a population of 44,876 people from different backgrounds. The area has a large English population with Canadians coming in second but there are also French, Italians, Germans and Dutch living there. The city is governed by a mayor and policing services are provided by the Haldimand detachment of Ontario police in Cayuga. The local fire department was founded in 2001 and there are 11 fire stations with hundreds of firefighters making it one of the largest in Ontario.
Haldimand real estate market
The city is surrounded by several attractions like the Grand River, Toronto Motor Sports Park, Haldimand county Museum and Killman Zoo to name but a few. It is in close proximity to Norfolk, Brant, Hamilton counties and the regional municipality of Niagara. Ontario Highway 3 and 6 travel through the city meaning that you can access it from most parts.
There are several neighbourhoods in Haldimand county including Dunnville, Fisherville, Selkirk, South Haldimand, Cayuga, Hagersville, Caledonia and Jarvis. Dunnville is notable for its location near the mouth of the Grand River near the historic Talbot Trail. It is a neighbourhood with rich history and private vacation properties. Tuesday and Saturday are the Farmers’ market days in this area where fairs and festivals tend to be the norm.
The other popular neighbourhood is Cayuga which lies between Caledonia and Dunnville. The village is known for affordable housing, good schools, churches, shopping amenities and other facilities. Visitors enjoy the museum, parks, pavilion near the river, Ruthven Park, or join car racing enthusiasts at Cayuga Motor Speedway.
If you wish to work with Haldimand Second Mortgage brokers for any of their services, feel fee to fill out our contact form for a free quote or email the president Ron Alphonso at ron@mortgagebrokerstore.com for free advice.