Posted on
January 15/2019By
northwood
If you need funds quickly, but don’t have cash in the bank and can’t get a loan, borrowing on your property is a good next option. In fact, getting a second mortgage in Toronto is usually cheaper than a loan because you are using equity in your home as security for the borrower. Second Mortgage in Toronto However, there are certain steps you can take to improve your chances of getting a second mortgage. If you have applied for a loan and been refused, you’ll know the reason why—and it’s most likely bad credit history. First, use one of the three main online credit bureaus to find out what your credit score is. By checking out your credit rating, you should be able to pinpoint the problem and possibly fix it. For example, if you are weighed down with credit card debt, find a way of paying it off. Or,…
Posted on
January 08/2019By
northwood
If you embrace a philosophy of growth and self-care, you’ll want to, as Oprah Winfrey says, “Live your best life.” Even with mistakes, you’ll know at the end you really did make the best effort for yourself, your partner and, if you have them, your kids, too. Second Mortgage in Toronto Sometimes, living your best life isn’t difficult, especially if it means spending time together and enjoying a good meal. But if it’s something that costs money, then you may be looking at securing a loan or getting a second mortgage. If the value of your property has increased since you bought it, then you have what’s called equity in your home. Getting a second mortgage in Toronto is certainly a viable option. A second mortgage means that you can borrow money based on the value of your property. Your home acts as security against the loan. What is a…
Posted on
December 26/2018By
northwood
As recently as a decade ago, many people had something to look forward to during their mortgage renewals in Ontario. Following the recession and financial crash of 2008, falling interest rates soon became the norm. An entire generation of new home buyers was told that they could reduce their payments by renewing their mortgage. However, a lot can happen in a decade, and 2019 will usher in a new wave of higher mortgage rates when Ontarians decide to renew their mortgages. Read on for some recent trends and tips so that when it’s time to renew your mortgage, you’re informed…
Posted on
December 14/2018By
northwood
When it comes to renewing your mortgage there are numerous factors to consider. And with so much financial jargon and so many changing dynamics, your mortgage renewal can seem pretty overwhelming. Sometimes, having a few key pieces of information can be crucial, and arming yourself with just a little bit of industry knowledge can ensure that you’re in charge of your financial future. If you are planning on a mortgage renewal in Ontario, then the tips below should provide some of the extra help you need. Perform the Proper Rate Research Take the time to compare and contrast what you…
Posted on
December 10/2018By
northwood
If you are planning on renewing your mortgage you may feel apprehensive about it, or even overwhelmed. For many Canadians, purchasing a home can be scary! Given the enormity of the money being borrowed, many Canadians feel afraid and avoid doing sufficient research on such an intimidating topic. That’s why we’d like to offer some guidance to ensure that your mortgage renewal goes as smoothly as possible. In particular, we recommend that you consult with a broker for your mortgage renewal, for a number of important reasons. Get Better Rates By asking a mortgage broker for help, you will be…
