Ottawa presently is one of the best places in Canada to obtain a private second mortgage or loan. Many Private second mortgage lenders easily approve mortgages since the jobs are stable and the many of them are high paying government jobs. The city’s local economy is further diversified due to the number of high-tech firms and manufacturing companies.
It is important to have a good second mortgage broker in Ottawa as it can save you some legwork. Our team of brokers has contacts with a broad variety of second mortgage lenders. They can save you the time and headache of having to call up a dozen of lenders to compare second mortgage terms and rates. Besides giving you access to multiple lenders, our team can assure you’ll receive the lowest second mortgage rates thus giving you many options during the home buying process.
Private lenders could be a great option if you currently are unable to qualify for a traditional mortgage or loan because of a less-than-perfect credit, debt or if you’re a self-employed individual who can’t always provide proof of a steady income. Mortgage Broker Store has a trusted network of many private investors and lenders who have assisted our clients with private second mortgages thus taking them steps closer to owning their dream home.
When purchasing a home in Ottawa, it is recommended to do an inspection to better understand the core systems of your potential future house. Having a home inspector’s contact details ready will help speed up the purchasing process and prevent potential pitfalls.
Ottawa Mortgage Refinancing
The process of substituting out an existing mortgage for a new one is called Mortgage refinancing. It has proven to be beneficial as it helps pays off old mortgages.
Refinancing can positively enhance your financial situation. It can help you unlock the equity that you have in your home, reduce your monthly payments and also to consolidate debts like personal loans, car loans or even any credits cards that you have on your mortgage, thus making it easy to manage your finances.
If you are considering refinancing, call our representatives now at Mortgage Broker Store to work with you in finding a solution best suited for you.
Ottawa, Canada’s capital is located on the south bank of Ottawa River in the eastern portion of south Ontario. It is the fourth largest city with a population of more than 1.2 million. Besides being considered a world class tourism and convention destination, Ottawa is home to many federal government organizations and foreign embassies. It is the most educated city in Canada and is home is many post-secondary, research and cultural institutions which include the national arts Centre and the national gallery.
Ottawa Real Estate Market
Ottawa is currently very active when it comes to its real estate market. The city saw 1,985 residential properties being sold alone in June 2016 which is a 17.4 percent increase when compared to the sale of 1,691 properties in June 2015. Going further, the five-year average for June sales is 1,717. The June sales included 331 condominium properties and 1,654 residential properties. The condominium properties included properties that are detached, semi-detached, apartment, or townhouses that are registered as condominiums, as well as properties that are co-operatives and timeshares. The residential properties included all other residential properties.