Did you know that, any number of mortgages can be registered on a property ???
Second mortgage is a loan that placed on real property which is already registered with one mortgage.
The reason why home owners take out second mortgages is very simple; the borrower might need some funds for a short period of time. It may make sense for a borrower to leave a first mortgage that has a longer term and a fixed rate in place and take a second mortgage for a much shorter term.
If you need money for:
Affordable Mortgages will help you to reach you goal. We specialize in 2nd mortgage loans and serve our clients with outstanding service and fast pre-approval process. Our company offers CMHC insured second mortgages and self insured second mortgages through our wide variety of lenders who can increase the probability of approval and deliver you lowest rates !
Can 2nd Mortgages Save You Money?
Depending on your financial situation, you may be able to lower borrowing costs on your outstanding debts. Instead of paying high interest rates on a personal loan or credit card advance, you can get a home equity loan at low mortgage rates and pay off your debts for less.
Contact us today for a no-obligation quote on a variety of 2nd mortgages.