Are you a resident of Welland, Ontario seeking a second mortgage, which mainstream banks seem unwilling to give? Well, do not despair. Welland second mortgage lenders are willing and ready to make things easier for everyone. They help where banks cannot, and more importantly, their services are almost instant.
People like you and perhaps others with a worse credit score than yours have already received the much needed financial assistance, some within 24 hours and others within 48 hours. Your situation cannot possibly be grimmer than that of everyone else who has been successfully assisted to access their second mortgage in Welland. All you need to do is to identify a reputable mortgage broker to do the research and analysis for you. They exist for this very reason.
Welland is home to some of finest mortgage brokers across Canada. As a homeowner, your job is to simply identify one that you feel comfortable with. With this done, you can rest assured that they will conduct a comprehensive analysis of the available options and recommend the best. To obtain a second mortgage in Welland at the most competitive rates, contact our brokerage. We’ve been providing second mortgages in Welland and across Ontario for over 10 years and are confidant in our ability to help you get the financing you need.
Even a low credit score is not an impediment when looking for a mortgage in Welland. There is a host of private lenders whose speciality is such cases. They give private second mortgages to individuals who would otherwise have no chance in the credit market. The reason private lenders can extend credit services to such individuals is that their assessment is not credit-score-based. Rather, it considers the loan to value ratio (LTV) or equity of a property.
The threshold LVR for most private lenders across Ontario is 85 percent but in Welland, some private lenders go as high as 90 percent. With such allowance, it is impossible not to get a private lender that suits your needs.
The process of obtaining a second mortgage, much like the first mortgage, calls for a property appraisal. This process needs experts who understand the tenets of property appraisal. In Welland, these experts exist as either independently or as part of larger organisations.
Thus, the onus is on the property owner, to contact the expert of their choice and have the appraisal process done in no time. These experts are aware of the market trends as well as the key aspects to consider during the appraisal process and as such, they will conclude it quickly and speed up the process of obtaining your second mortgage tremendously.
Mortgage refinancing is an option many home or property owners like to consider when seeking a second mortgage. This option is available for property owners in Welland as well. It is a viable option when seeking to repay your mortgage at reduced rates or to move your mortgage from one lender to another due to better terms.
Your job is to identify an appropriate mortgage broker to help with the process. There is so much freedom in terms of the options that are available for an individual seeking a second mortgage in Welland.
Welland is a city that lies at the heart of the Niagara Municipality, on the Southern end of the Canadian province of Ontario. It is fondly referred to as the “Rose City.” According to the last population census, which was conducted in 2011, the city was home to 50,631 people, placing it at position 96 among Canadian cities.
Economically, the city was a traditional industrial hub due to its stable supply of electricity from Niagara Falls. This state of affairs has changed over time, but Welland still boasts a thriving economy, with Call Centre companies preferring it as the ultimate destination due to the robust diversity of its residents. Additionally, due to its overall welcoming nature, Welland ranks among the top 10 business destinations in Canada. These accolades have placed its real estate market among the best performing across Canada.
According to the Canadian Real Estate Association (CREA), Ontario was among the leading players in the real estate market in the concluding year. Welland, in particular, has registered a record year in real estate sales, with unit sales and prices rising steadily. As of early 2016, the growth rates in Niagara, one of Welland’s neighbourhoods, stood at 17 percent and 8.6 percent in unit sales and prices respectively. Such growth rates were last registered over 20 years ago. Finally, CREA projects that the growth will continue in the upcoming year, albeit at slightly lower rates.