Second Mortgages

Interested in a second mortgage?

A second mortgage service is one that lets you register another mortgage on your property, should a current mortgage already exist.  A second mortgage can offer you up to 80% of the home’s appraised value, subtracted from the amount owing on the existing mortgage.   For example, if your home is worth $100,000, we would loan you 80% of that, minus the mortgage you are currently paying.

So How Do I Get A Second Mortgage?

It’s pretty simple.  The basic condition is that you must own at least 20% equity in your home, and the property must be in securable-loan worthy condition. Sometimes, you may require approval from your current mortgage provider, but we can help you with the logistics.  Bottom line, if you need funds and have inaccessible built up equity, we can help facilitate this.

The Details:

Second mortgage loans are usually available at a slightly higher interest rate than a primary mortgage because there is a higher risk posed to the lender should a payment default occur.  These mortgages are prime candidates for people with high-interest credit card payments, high-interest car loans, a requirement for “just in case” funds, renovations, second homes, bridge financing between purchase/ sale, etc.

So many families have already enjoyed the benefits of a second mortgage in short or long-term situations. Should you have some questions for us, or want to know more about the process please send an email, a text, or give us a call.

See below for details on how this service works.

HOW THIS SERVICE WORKS:

STEP
ONE

CONTACT

Contact us using the form here and fill it in as best as possible.

STEP
TWO

RESPONSE

Someone will reply back to you asap about checking out your property. Sit tight, we’re coming.

STEP
THREE

MEETING

General on site meet and greet/ discussion about what service you need help with. Followed by a solution to help.

STEP
FOUR

CLOSING

Transaction day.

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