Brokers For Life
Toll Free 1.866.902.7771
Real Life Mortgage Solutions www.brokersforlife.ca
Second Mortgage Calgary – Get the Best Rates in Calgary
Brokers For Life Inc. 2nd Floor, 5303 91 Street , Edmonton, Alberta T6E 6E2
www.brokersforlife.ca
Brokers For Life
Toll Free 1.866.902.7771
Real Life Mortgage Solutions www.brokersforlife.ca
Second mortgages are just what they sound like, if you already have a first mortgage then the second for foreclosure purposes is in second place. The second mortgage is usually facilitated by a private lender although occasionally we will see one come from the bank who has the first mortgage.
Brokers For Life Inc. 2nd Floor, 5303 91 Street , Edmonton, Alberta T6E 6E2
www.brokersforlife.ca
Brokers For Life
Toll Free 1.866.902.7771
Real Life Mortgage Solutions www.brokersforlife.ca
What exactly is a Second Mortgage? Second Mortgages are based on the appraised value of a property and can go to as much as 85% of that value but most will only go to 75% in major cities. While regular first mortgages look at going to 44% of your debt servicing ratio, most second mortgage lenders will consider higher debt ratio’s as they are more interested in the equity in the property than the actual debt ratios.
Brokers For Life Inc. 2nd Floor, 5303 91 Street , Edmonton, Alberta T6E 6E2
www.brokersforlife.ca
Brokers For Life
Toll Free 1.866.902.7771
Real Life Mortgage Solutions www.brokersforlife.ca
Why You Should Consider Going for a Second Mortgage in Calgary
Brokers For Life Inc. 2nd Floor, 5303 91 Street , Edmonton, Alberta T6E 6E2
www.brokersforlife.ca
Brokers For Life
Toll Free 1.866.902.7771
Real Life Mortgage Solutions www.brokersforlife.ca
The reason most people would look at a second mortgage in Edmonton is that perhaps the bank already thinks you have too much credit and won’t extend past the current amount of mortgage that you have in place. In some cases self-employed individuals will seek out a second mortgage to help finance a business venture that the banks won’t approve.
Brokers For Life Inc. 2nd Floor, 5303 91 Street , Edmonton, Alberta T6E 6E2
www.brokersforlife.ca
Brokers For Life
Toll Free 1.866.902.7771
Real Life Mortgage Solutions www.brokersforlife.ca
Why You Should Consider Going for a Second Mortgage in Calgary The reason most people would look at a second mortgage in Calgary is that perhaps the bank already thinks you have too much credit and won’t extend past the current amount of mortgage that you have in place. In some cases self-employed individuals will seek out a second mortgage to help finance a business venture that the banks won’t approve.
Brokers For Life Inc. 2nd Floor, 5303 91 Street , Edmonton, Alberta T6E 6E2
www.brokersforlife.ca
Brokers For Life
Toll Free 1.866.902.7771
Real Life Mortgage Solutions www.brokersforlife.ca
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Brokers For Life Inc. 2nd Floor, 5303 91 Street , Edmonton, Alberta T6E 6E2
www.brokersforlife.ca