If you’ve heard of home equity lines of credit, home equity loans and second mortgage, things can get confusing. Part of our role as Canada mortgage brokers is to help you figure out which is right for you. Here we’re going to explain what each does, how they work and how to make sure which […]
What’s the Difference between a Second Mortgage and a HELOC? Read More »
Getting a second mortgage is easier than ever, but do you need one? Here we’re going to discuss the kinds of second mortgages that are available, the benefits, how you can get one and if they’re the right choice for you. A second mortgage will give you the money you need to pay off bills
Take Advantage of Low Interest Rates with a Canadian Second Mortgage Read More »
While the idea behind the two is the same, there are some differences between the two that you need to understand. First a second mortgage is generally based on your credit score, while a home equity loan is based on the equity of your home. If you fail to pay back a second mortgage you
What Makes a Home Equity Loan Different from a Second Mortgage? Read More »
Sometimes you need to refinance your first loan, sometimes you need to get a second mortgage. It can be hard to tell when which is right for you, and that’s when you need a Toronto mortgage broker to help you out. You can find mortgage brokers all across Canada who can help you with your
Is a Second Mortgage Right for You? Read More »
When you’re trying to make the most of your money and your equity, you’ll probably start looking at second mortgages – but why are they so expensive?! Here we’re going to talk about how you can work with a Toronto mortgage broker (us!) and know what kind of deal you can really get. If you’re
Why Are Second Mortgages so Expensive? Read More »
We see a lot of different tricks by lenders, but one of the worst is the zero down financing trap. They’ll offer you a second mortgage with an interest rate of up to 30%, but you won’t have to pay any money down. Oh no, none at all – but the higher the interest and
Beware the Zero Down Financing Trap with Second Mortgages Read More »
It goes by many names: underwater, upside down, sideways – whatever you call it it’s no good. When you owe more than the property is worth you may have to walk away, but there is always another option. A second mortgage can help pull you out of the debt bubble and help save your home
How to Deal with an Underwater Mortgage Read More »
Know that saying “A watched pot never boils”? Second mortgages will boil over, burn down your house and gobble up your first born – well probably not the last one but you get the idea. When it comes to getting the right loan to value ratio and fair repayment terms you want to work with
Rushing into a Second Mortgage Can Cost You Big Read More »
