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How Much Can I Borrow? Borrowing against a property you already own is easy if you know what to compare. Mortgages are easy to understand. A First Mortgage is simply the first mortgage to be registered on a property. A Second is simply the next mortgage to be registered. And so on, in chronological order. But when it comes to mortgages, details matter! Lenders allow you to access the cash locked in your home’s equity. How much cash? Usually lenders will provide you up to 80% - 85% of your home’s value in cash.
Stress-Free 1st, 2nd, and 3rd Mortgages!
Want help choosing the right mortgage? We match your goals with a loan, not the other way around! Personal service, every time!
- Fixed and Variable Rates (Adjustable Rates)
- We Make the Process Really Easy
- All Lender Types (from Big Bank to Private-Individual Lenders)
- Terms (duration) from 3 months to 10 years
We had a tricky situation. We're both pensioners and had a second mortgage. We got a third mortgage for 5 months. The lender has already given us a commitment to bundle our second and third mortgages together in 5 months. Thanks. We're grateful this all worked out."
Rasiah, from Hamilton
The whole transaction was smooth and our credit history for me and my husband (our lack of credit history in Canada) make no difference—we got the loan easy-peasy as we say in England."
Ingrid, from Washago
Click to Read Catarina's Situation, Solution, and Result.
Catarina from Mississauga gets a one-year 1st mortgage to pay off her and her son’s student debts once and for all.
Catarina’s son, a recent graduate of McMaster University, approached her for desperate help—how to manage his out-of-control debts until he gets a job with a contract. Catarina realized she would face her own debt situation too and put them both on a plan towards financial control of their lives.
Her townhome in Mississauga is appraised at $825,000. She has a 1st mortgage ($120,000, big bank, 3.8%). To bring her and her son’s debts together into one manageable amount, she needs at least another $80,000, probably more. If possible, she’d rather avoid getting a second mortgage.
Catarina gets a new 1st mortgage (a refinance, $220,000 total, with a B-lender, 4.89% fixed interest) on a 4-year term. Her loan-to-value is only 27%. Catarina and her son decide to read “You’re Broke Because You Want To Be” and follow all its steps. One month later, they’re already feeling better.
I’d be happy to leave a comment. These are the only people who actually listen to you. And they follow through on their word.
Click to Read Geoffrey's Situation, Solution, and Result.
Geoffrey from Owen Sound gets a short-term 3rd mortgage to buy equipment for his seasonal sprinkler business.
It’s late February and Geoffrey has to hustle. His business is seasonal: he installs sprinkler systems in people’s homes. He wants to expand his business in spring but needs money quickly to buy new equipment. Without the equipment, he’ll lose clients he could have otherwise sold his services to.
His house in Owen Sound is appraised at $310,000. He’s already got a 1st mortgage ($137,000 – Credit Union, 5.10%) and a 2nd ($32,000 – private lender, 14%). He needs $35,000 to buy equipment before spring. He’d like to refinance his 2nd mortgage, but there’d be a high penalty.
Geoffrey gets a 3rd mortgage ($40,000 – private lender, 13.99% interest) with a 3-month term. This makes his loan-to-value 66%. Geoffrey expands his business. He pays off the mortgage in June and has new clients until October. Congratulations Geoffrey – you’ve made great use of leverage.
Very straight up service with these folks. Fast. I had the money in my hands sooner than I was quoted. Easy contract too.