What Is A Second Mortgage?
A Second Mortgage helps you borrow equity from your home and use the money towards a bigger purchase you couldn’t afford otherwise or cash out, consolidation of debt, etc.
The banks do not offer Second Mortgages as an option making it really difficult for those in need of them. What banks do is called a home equity line of credit and these are also very hard to get approved for according to the government regulations. (i.e. credit, debt, etc.)
On the other hand, Second Mortgages are much easier to get into. When getting a Second Mortgage, it is different from your first mortgage or a home equity line of credit that the banks offer. The focus of it will be on your home equity.
The more equity in your home, the simpler the process to get approved. Even though it is an easier option, the interest rate will be a little higher than normal. The lender will work in your best interest to find the best interest rate and get that money for you.
A Second Mortgage can be used for a variety of things and is not limited only to the following:
Paying off loans and increasing credit score
Consumer proposal & bankruptcy
Power of sale & foreclosure
This is your chance to use this money wisely and get back on the right path because there are little to no restrictions on the way this money is going to be used.
My Credit Is Bad. Can I Get A Second Mortgage?
A mortgage broker that specializes in getting mortgages approved with bad credit like we do can make that possible. We work with many lenders to find the best solution for you.
Why Choose Us For Your Second Mortgage?
We can help you with a variety of mortgage refinance options and terms so that you have a customized solution that makes sense and fits you! If you want professional service, efficient, and the best Second Mortgage rate, call us today at 1 (888) 704-1255 or Apply Now and we’ll get in touch with you!
Borrow equity from your home and use the money towards a bigger purchase you couldn’t afford otherwise or cash out, consolidation of debt, etc.
Debt reduction system that allows you, our clients, to combine all your unsecured debts into one low-cost monthly payment. Instead of sending out payments on six or seven banks and store credit cards, you would simply make one low monthly payment.
Your credit score is a numerical indication of your creditworthiness. It is the primary factor that creditors and lenders use to decide whether or not they should extend credit to you.
Home Equity Line Of Credit
Looking for flexibility and minimum restrictions, a line of credit is the answer.
Powe Of Sale & Foreclosure
Missing mortgage payments can be crucial to the ownership of your home. Mortgage payments are expected to be made on time and failure to do so can lead to major financial consequences for the borrower.
Canadian Financial Solutions is a key figure in the private markets and has the experience that can help create the right investment for any risk portfolio with access to a wide variety of investment options taking into consideration your specific risk tolerance.