If you are looking to refinance or renovate your home, pay off your high credit loans, consolidate your debts or pay off your tax arrears or get some money for your child’s university or tuition, then a second mortgage might be just the solution for you. A second mortgage is a second loan taken on a home which is already mortgaged. A home can have a number of lenders, with the first lender first in line in case of the home defaults on payment, and the second and third mortgage lenders next in line in that order.
You can rest assured that our second mortgage Pickering brokers have your best interests at heart, and can get you the best second mortgage rates in Pickering. Our brokers will be able to make an assessment of your second mortgage qualifications and will guide you through the process of getting a second mortgage from start to finish. Our company has helped a number of clients in Pickering, and in the larger Southern Ontario region secure good second mortgages, and regardless of your mortgage needs, we might be able to find a mortgage that is suited for you and for your financial situation.
It is usually easy to get home equity credit with good credit and at least 20% equity in the home from the first mortgage. However, in certain cases, home owners have bad credit, or are self-employed or unemployed, or have a history of missed mortgage payments which locks them out of second mortgages by banks and financial institutions. If this situation describes you, then you will be pleased to learn that our second mortgage Pickering brokers can connect you with trusted and reliable private lenders. One advantage of private lenders is that are more flexible in their lending requirements, which means that you might be able to find a second mortgage solution which is perfect for you.
A home appraisal is crucial in getting a second mortgage application approved. In a home appraisal, the market estimated value of your home is determined, and this is a decisive factor in the amount of money a lender will be willing to give you for your home. Obviously, the higher the market value, the more money will be available to you. Therefore, it is best to be well-equipped with the contacts of reliable second mortgage Pickering home appraisers.
With mortgage refinancing, you get a new mortgage loan in exchange for loans you have. It is possible to refinance as much as 80% of the appraised value of your Pickering home. Fortunately, being professionals in this field, our company can be able to assist you with mortgage refinancing.
Located in southern Ontario, Pickering is a city with a history of establishment dating back to the 1700s. It is believed that the city was originally established as a township in 1811, and named after Pickering in North Yorkshire by its British Colonial settlers. Currently, Pickering has an estimated population of about 89,000 people. The city is, for the most part, an industrial economy, with a number of manufacturing plants or their headquarters located here. Additionally, Pickering also houses a nuclear power station, the Pickering Nuclear Generating Station, which provides up to 14% of Ontario’s power. Given its business strong base, Pickering is one of the best cities to do business. It was rated by Profit Magazine as one of the best Canadian cities to grow a business in 2006.
Pickering has 17 public elementary schools and two public secondary schools under the Durham district school board, 8 Catholic elementary schools and one Catholic secondary school, and two private schools.
Pickering has one of the fastest growing real estate markets, with some of the most expensive houses in the Southern Toronto region. House prices in Pickering depend on the specifications of the house, and the house’s location. Pickering is divided into industrial areas which form a fraction of the southern part, and agricultural areas in the northern part. However, there are some residential areas here such as Rouge Hill, Dunbarton and Fairport Beach in the South, and Whiteville, Greenwood and Claremont in the North. Other residential areas with high listings include Liverpool and Amberlea. In general, however, the average price of a two-bedroom house in Pickering is $600,000. A 3 bedroom house costs around $800,000.