Mortgages
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Get access to additional funds, providing the financial flexibility you need to achieve your goals.
Get access to additional funds, providing the financial flexibility you need to achieve your goals.
Gain quick and easy access to additional funds, providing the financial flexibility you need to achieve your goals and address pressing priorities without unnecessary delays or complications.
Combine high-interest debts into one lower-interest payment to reduce monthly costs and save on interest.
Access funds to renovate or upgrade your home, boosting its value and functionality.
Cover tuition or education-related expenses for your family without taking on additional high-interest loans.
Use equity to fund a down payment, avoid PMI, and build long-term wealth.
Secure funds for real estate or other investments with potential for higher returns.
Establish a HELOC to cover unexpected expenses or provide peace of mind during financial uncertainty.
Our team of mortgage specialists can help you use a second mortgage to pay off arrears, stop legal action, and save your home.
A revolving credit line secured by your home’s equity, offering flexible access to funds as needed. You only pay interest on the amount used and can access your available credit repeatedly as you pay it down. Best suited for ongoing expenses, renovations, or as a financial safety net.
A fixed-term loan from private lenders, offering quick approval and flexible qualification criteria. Ideal for those who may not qualify for traditional bank products or need fast access to funds. While interest rates are higher, this option provides short-term solutions for immediate financial needs.
A traditional second mortgage with fixed terms and regular payments. You receive a lump sum and make consistent monthly payments over a set period. Well-suited for major one-time expenses like debt consolidation, home renovations, or business investments.
A credit card secured by your home equity, offering higher limits and lower interest rates than traditional credit cards. Provides convenient access to funds for everyday purchases and expenses while using your home’s equity as security. Includes typical credit card benefits like rewards and purchase protection.
Your home’s current market value minus your existing mortgage balance determines your borrowing capacity. Our mortgage specialists can assess your available equity and explain how much you could potentially access through a second mortgage.
Lenders look at your income stability, credit history, and overall debt load. Our team will review your financial profile, including debt service ratios and current mortgage payment history, to help match you with suitable lending options and optimal rates.
The approval process involves property appraisal, title search, and document verification. Our specialists work closely with lenders to manage timelines efficiently and keep you informed throughout the process. We can discuss specific timing based on your situation and chosen lending option.
Talk to our team about understanding all associated costs, including lender fees, appraisal charges, legal fees, title insurance, and administrative costs. We’ll explain the prepayment privileges, interest rates, and term length options to find the best fit for your financial needs.
Our specialists will help you develop a clear plan for managing both mortgage payments and explore options for either paying off or refinancing the second mortgage. We’ll discuss strategies that align with your long-term financial goals and circumstances.
There are two main types of second mortgages: Home Equity Loans, which provide a lump sum, and Home Equity Lines of Credit (HELOCs), which offer flexible access to funds as needed.
To qualify for a second mortgage, you typically need to have at least 20% to 25% equity in your home. The amount you can borrow is determined by the equity in your home, the outstanding amount on your initial mortgage, your credit score, and your financial stability. Private lenders may approve second mortgages even with low income or bad credit, based on the home’s equity
Second mortgages are commonly used for various purposes such as:
Second mortgages generally have higher interest rates than primary mortgages due to the increased risk for the lender.
Interest rates can vary from 5.99% to 11.99% depending on the loan-to-value ratio. Additionally, you will need to pay administrative costs such as appraisal and legal fees
The main risks include:
After you submit the form, we’ll reach out to discuss your goals, address any questions, and provide customized, no-obligation quotes. Feel free to let us know if there’s anything else you need!
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After you submit the form, we’ll reach out to discuss your goals, address any questions, and provide customized, no-obligation quotes. Feel free to let us know if there’s anything else you need!
After you submit the form, we’ll reach out to discuss your goals, address any questions, and provide customized, no-obligation quotes. Feel free to let us know if there’s anything else you need!
After you submit the form, we’ll reach out to discuss your goals, address any questions, and provide customized, no-obligation quotes. Feel free to let us know if there’s anything else you need!
