A second mortgage is a loan that is secured against a property with an existing first mortgage placed on it. Generally second mortgages carry more risk to lenders, and have a higher interest rate than first mortgages.
If major Canadian banks have recently turned you down for a second mortgage or loan in Vaughan, a private second mortgage lender may still be able to help you get the funds you require. Our team will look at your entire financial situation to assess if private second mortgage financing fits your needs. With mortgage rates in Vaughan reaching record lows, now would be the perfect time to buy a property in Vaughan.
At Mortgage Broker Store we have more access to private lenders than any other mortgage brokers in Vaughan. Most private second mortgage lenders rely on us as gatekeepers to bring them quality clients. It can be very difficult at times for you to get in touch with a second mortgage lender directly. Apart from getting you closer to the reach of private lenders, our team will also get you special low rates for private second mortgages
Private second mortgage lenders approve loans in a matter of weeks in comparison to the 35-40 days period in conventional loans. They also look past the credit scores or debt ratios that do not meet traditional lenders guidelines. Mortgage Broker Store has the skills and expertise to assist you in opening a private second mortgage. Call us today to find out your eligibility for a Private Mortgage.
Purchasing your dream home is one of life’s biggest accomplishments and if it is filled with unknown problems, it can turn out to be a distress. These unknown problems can include wiring, plumbing which may not be visible during a showing. Hence it would be best to get an expert’s opinion about the core state of your potential future home. Having a Home appraiser’s contact information ready can eliminate this distress and take you closer towards owning your dream home.
A Mortgage refinancing means replacing your current debt with a new or larger loan that has a better interest rate.
Refinancing can help you pay your mortgage debt in a shorter period of time. It also helps you lower your monthly payments, to get cash out for other purposes and also to consolidate debts to get a lower overall interest rate.
If you are considering refinancing, our representatives at Mortgage Broker Store will work with you towards finding a solution best suited for you.
Vaughan, located in York Region North of Toronto is the fifth largest city in the GTA. As of 2015, the city has a population of 320,530 residents. Vaughan being the 17th largest municipality in Canada and 8th largest in Ontario, is home to individuals are from a variety of backgrounds. The City Playhouse Theatre, which is a great place for family entertainment offers a diverse mix of professional productions, community shows, local artists and educational programming.
Vaughan currently ranks at the top among other cities and towns in Ontario for real estate investments. Due to the city’s rapid population growth, low industrial and commercial taxes, many businesses have been attracted towards the city thus increasing house prices and its construction value. If you are looking to own your dream home in Vaughan but lack the financial assistance to do so, then call the Mortgage Broker Store today to get the best rates on second mortgages.