What is a second Mortgage?
Whether you have good or bad credit a Second Mortgage can help get you money for whatever you need and the process is usually as little as 2-3 business days. Due to the increased risk for the lenders because the second mortgage is in second position, the interest rates for second mortgages are typically more than those for first mortgages and will have fees as part of the mortgage.
The term “second mortgage” is used because the loan is second in priority in case of default. This means that if a borrower defaults, the first mortgage will be paid off before the second mortgage.
We have many private mortgage lenders who have helped our clients receive second mortgages regardless of income or credit, on the basis of equity in their property. See the difference for yourself and get approved today with our second mortgage solution !
Must be dated same month as your application form, if you do not have one you can contact your mortgage lender and request one to be sent to you by email.
If you do not have this, then you can get the most updated statement from your local city hall.
NOA may be requested to show no income tax owing – If income tax owing it will need to be paid out from the new second mortgage upon closing.
I will help you if any other documents are required for your second mortgage needs.
Renovate your home
Invest in your Business
Pay off Consumer Proposal
Pay mortgage arrears
Pay for expenses
Pay for Education
Cover medical expenses
Pay CRA tax arrears
Pay property tax arrears
Take a family vacation
Purchase a car
Get our high interest loans
Invest in RRSP/RESP
pay off pay day loans
pay off judgements, garnishments
Finance whatever your specific needs may be