You may find yourself at a place in life where you can add another property. Whether this is an investment property, a rental property, another home in a different city or a cottage, PrestoMortgages can help you get the mortgage you need.
PrestoMortgages have a lot of experience getting people into second homes, we have a long list of happy clients in Ontario and beyond who are comfortably making income off investment properties or enjoying the benefits of a second home. Since we lend as well as broker mortgages, we are highly flexible when it comes to getting funds for your second mortgage.
Second Mortgage on the same home
A house or property can also have more than one mortgage on it.
There are many reasons to get a second mortgage. You might need the cash for investment, you may need to consolidate debt, pay for renovations, children’s education, equalize your interest payments, etc. PrestoMortgages understands financial planning and have been helping clients for several years to explore all options. We can work with you to find the best solution to a second mortgage and get you the funding.
Find Your Advantage
Second mortgages can provide an advantage to your financial situation. If you have a lot of equity in your home, it is quite easy to get a second mortgage. Most of the assessment actually looks at the equity in the home instead of credit or income. Second mortgages come with flexible terms and most are 1 year terms with only interest to be paid.
Did you know 90% of your home’s value can be used for a second mortgage?
If you are retiring and would like to have access to a lot of cash, a second mortgage will unlock a lot of equity in your home and let you live a comfortable lifestyle.
If your kids are headed to university and you need the extra capital, a second mortgage is a great idea!
We look at the big picture
We have successfully arranged second mortgages for customers from all walks of life. Good credit, bad credit, self-employed – no problem in any scenario! PrestoMortgages works with you to build a good understanding of your financial situation in order to get you that second mortgage. Contact us with confidence, knowing that you are starting a relationship with a strong financial partner that will not judge you like the big banks or give you the run around like brokers.