2nd mortgage toronto

2nd Mortgage in Toronto

People often need money for a number of reasons. You might want to buy a car, or improve your house a bit. A lot of money could be needed for something like a business expansion, or getting another house. There are many ways of getting the cash, however, things become complicated when you already have a mortgage on your house.

One way of getting money then is to obtain a 2nd mortgage. But you have to be careful while getting a 2nd mortgage in Toronto. A 2nd mortgage is riskier for the lender, so naturally, the stakes have to be high for the mortgagee as well. Lenders tend to charge high interest rates on 2nd mortgage. However, we can help you out, in getting the lowest rates for your 2nd mortgage. With our agent Amit Dhingra, getting a 2nd mortgage in Toronto, should not be a hassle for you.

How Does 2nd Mortgage Works

2nd mortgage is usually acquired when someone needs a lot of money, and they already have a first mortgage against their property. It is usually against a property because a property such as a house values enough to pay off the debts. However, the 2nd mortgage is riskier because it comes second in priority, and in case of a default, the first mortgage will be paid off first. This entails that the 2nd mortgage is more expensive for the borrowers as well. Because of the risk that the 2nd lender might not get paid in full, they charge a higher interest rate. And in many cases, where the lenders might think that the risk is not worth it, they will most probably reject the mortgage.

However, if you are looking for a 2nd mortgage in Toronto, with us on your side, you should worry about any of this. Our agent, Amit Dhingra is an expert when it comes to getting a 2nd mortgage approved. He has a successful mortgage approval rate of 99%, and he will do his best to get your loan approved.

Best Rates for 2nd Mortgage in Toronto

A 2nd mortgage can be acquired for a number of reasons, including:

•           Home improvements

•           Avoiding Private Mortgage Insurance (PMI)

•           Debt Consolidation Programs

•           Purchasing additional homes

•           Creating a home equity line of credit (HELOC)

Getting a 2nd mortgage in Toronto is a difficult process. Ensuring the lenders that their money is secure is a task difficult enough. Furthermore, lenders want everything a certain way. All the paper work needs to be done. However, you need not worry, be our mortgage broker Amit Dhingra will be at your service right from the beginning, till the deal gets closed.

This is not it. Amit works to serve people, and with this approach, he thinks of it as his duty, to serve his clients in the best way he can. And this includes getting them all the best rates. Lenders tend to charge higher on 2nd mortgage in Toronto, but with Amit’s contacts with many lenders, and his experience and hard work, he can get you the lowest rates for your 2nd mortgage.

Get your 2nd mortgage now

We are just a phone call away. For your 2nd mortgage, call us at 647-622-6564, or send an email at amit@amitd.ca