Are you considering taking out a second mortgage and want to know how much deposit you need in order for the offer to go forward? If so, why don’t you keep reading to find out? For your second mortgage, you should expect the rules to be tougher, as you’re already paying for one mortgage. This …
Are you considering taking out a second mortgage and want to know how much deposit you need in order for the offer to go forward? If so, why don’t you keep reading to find out? For your second mortgage, you should expect the rules to be tougher, as you’re already paying for one mortgage. This …
If you are considering buying a second home, you have reached the right blog! We will go through some questions and material as to what to consider when making such a significant decision. Despite the fact that mortgages maybe the focus in a purchaser’s mind, one will need to have a plan of action as …
So, what is a home equity loan as offered by a bank? A home equity loan can be described as a large loan that’s borrowed against the equity in your home, with a reasonable interest rate, compared to a non-secured loan. There are banks and credit unions in the Toronto area that offer these lending …
You’re looking at getting a private second mortgage, but you want to know what it is and how it works. So, what is a private second mortgage? A private second mortgage can refer to a few things. For instance, it’s financed by a private source such as: a private bank, an individual business, or your …
You’ve been told you should consider refinancing your second mortgage, but what does it mean and does it make sense for you? Refinancing your second mortgage essentially means you’ll obtain a new mortgage by trying to lower your monthly costs. Refinancing your second mortgage is a step you shouldn’t take lightly, so if you’re interested …
It’s time to start applying for your second mortgage, but you’re not sure what paperwork you need. Before applying for your mortgage contact your mortgage broker or your credit agencies to ask for your three main credit reports and have them sent out to you. Begin by collecting all your documents together and pop them …
Mortgage rates have significantly changed, and you’re considering or have taken out a second mortgage and are wondering whether you should combine both your first and second mortgage into one. Before jumping right in and consolidating both your mortgages into one, consider your unique circumstances, and understand your situation. So, should you combine your mortgages? …
Now you know what a second mortgage is and how it can benefit you, but how do you qualify for one? Take a look at these six points to find out what you may need to do in order to qualify for your 2nd mortgage. 1. Be a homeowner. Simply being a homeowner, qualifies you …
You’ve taken a look at what a second mortgage is and why you should take one out, but now you want to seal the deal. So, what are the benefits to having a second collateral mortgage? Take a look at these six points to find out! 1. You can borrow a significant amount of money! …
