Second mortgages are so called because they are placed on a property with another mortgage on it. Lenders have to contend with high risks when issuing such type of mortgage because if the client defaults, the first mortgage must be paid before they can be compensated. In an attempt to protect themselves in such a situation, second mortgage lenders resort to charging high interests for the loans they issue.
Equity is a guiding factor for second mortgage lenders who will give loans to anyone who owns 20% of their homes. There are many uses for second mortgages in Georgetown, ranging from renovations to vacations. Second mortgages in Georgetown are indeed a great way for residents to achieve their life goals by utilizing their valuable assets.
We work with several private lenders in Georgetown to help us grow a pool of resources that can be used to help those with second mortgages. These lenders are not deterred by your credit score, which is why we have been able to help clients in different cities and towns including Richmond, Oakville, Kitchener, London, Hamilton and Ottawa to name but a few.
Located 60km from Toronto is Georgetown community in the town of Halton. It is named after the first settler George Kennedy, who made it there in 1821. It has several neighborhoods including Delrex, Moore Park, and Georgetown South.
Georgetown Real Estate Market
As of 2011, there were 40,150 people living in this community with 13,805 private dwellings. There are several property options in the market including condos and lofts with the average listing price being $944,292. With such valuable residential properties, it is possible for residents with bad credit to get the funding needed for education, home improvement or credit card debt payment.
Georgetown Mortgage Brokers
Mortgage brokers in Georgetown connect second mortgage lenders and the borrowers who badly need their services. They take the time to assess an applicant’s information to match them with mortgages at the best terms possible. If you are looking for low-interest second mortgages, you can call us in Georgetown to connect you with our trusted network of lenders.
Georgetown Private Lenders
Banks may fail to finance your second mortgage for a number of reasons but that isn’t the case with private lenders. They don’t care much about your credit score as the value of a home is more important when seeking second mortgages in Georgetown. Our teams are connected with lenders all over Ontario, meaning that we will not turn down your loan request unless you own less than 20% of your property.
Ontario Home Appraisers
It is the role of mortgage brokers to find you the best rates for a second mortgage but it is home inspection experts that will help you close costs. Their advice on quality and maintenance goes a long way in saving you future expenses. You should keep details of home appraisers close by so you can consult them on how best to add value to your home.
Georgetown Mortgage Refinancing
This is where a client is allowed to consolidate all their debts into one for better management. It is much preferred as it leads to lower interest rates on mortgages. If you need a second mortgage loan in Georgetown, kindly contact our team to help you figure out what your best options are.