We recognize that each one of our clients has individual needs, and our products and services reflect this.
Second Mortgage is the product which can be used to enhance your current lifestyle such as a loan for your wedding or a honeymoon, new car or even take a vacation. Some use 2nd Mortgages to consolidate debt or pay medical bills, education or School Loans and most commonly a Home Improvement loan. Still, others use 2nd Mortgages for Small Business loans, to inject new money into their current small business with the flexibility of Interest Only Payments. A second Mortgage is one of the fastest and easiest way to extract your Homes Equity out of your home. The uses can be numerous, and they are your own.
Second Mortgage Can Help Improve Credit
A Second mortgage can also be a great tool to help you repair your credit or help with cash flow. If your credit score is low and your 1st mortgage is coming up for renewal in the next year or in a few months, paying off your debt with a second mortgage may allow your credit score to improve. By managing your debt and keeping your debt repayment in good standings you stand a good chance upon renewing your mortgage to consolidate both mortgages into one with a combined lower payment and interest rate.
With a second mortgage, you can use the funds to:
Renovate your home
Invest in your business
Pay off a consumer proposal
Pay tax arrears
Purchase an investment property
Purchase a car
Pay for wedding expenses
Pay for education
Cover medical expenses
Finance whatever your specific needs may be
Second mortgages can provide responsible homeowners with a great way to the borrow funds needed for a pressing expense. They can also be a great way to make improvements to homes that add value to the property. But remember, a second mortgage is still a loan. If you plan to take one out you should also make a plan for paying it back. If you’re in the market to take out a second mortgage, speak with one of our seasoned mortgage advisor who can help you verify if you’re qualified for second motrtgage and if this option is right for you.
Is a Second Mortgage Right for You?
- Taking advantage of second mortgage can benefit you by paying down your high-interest credit card debts, doing home improvements and renovations, or even taking a well-deserved, relaxing holiday.
- It can help with financing on your major expenses. Using a second mortgage to cover purchases such as home renovations can provide you with lower rates than alternatives like credit cards or personal loans.
- A fixed second mortgage loan allows you to pay off your expenses in one lump sum, with a low, locked-in rate that you can count on, We have a mortgage plan that will suit your needs.
We aim to provide you with a high level of tangible savings. We do this by developing well-established relationships with many of Canada’s most stable and respected Financial Service companies. This gives you access to an extensive and professional range of products and services.