Second mortgage is more affordable when compated to other types of loans. That’s why we strive to make our services as affordable as possible at all times.
Not only will we help you find the best mortgage products for you but we will take the time to make sure you understand what you are getting.
Whether you choose to apply for a second mortgage or another product such as a mortgage refinance, we find the best solution for your situation.
Fantastic Interest Rates
Why settle for high interest rate loans, when you can get a second mortgage at an amazing rate with Circle Mortgage Group.
Looking for a Second Mortgage in Burlington
As you pay off your mortgage, equity naturally builds up in your home. The equity is the value of your home minus what you owe on it. So for example, if your home is worth $500,000 and you still owe $200,000 on it, then you have $300,000 in home equity. There are several financial tools available to Burlington homeowners that allow them to borrow against their home equity – and one of those tools is a second mortgage. A second mortgage is simply a loan that is secured by your home equity. It does not require you to break your first mortgage. Most lenders will let you borrow up to 80% of the value of your home equity. So using the example above, if your home equity is $300,000, then you would be able to borrow up to $240,000 with a second mortgage.
Choose Circle Mortgage to help with your Second Mortgage
The team at Circle Mortgage is a highly experienced group of mortgage experts led by our founder, Jivan Sanghera. Jivan has over a decade of experience in the mortgage industry and has successfully built up his brokerage as one of the premiere mortgage brokerages in Burlington. With a commitment to customer service and satisfaction, you can trust Circle Mortgage Group to meet your expectations for securing the right second mortgage for you.
Get the Lowest Interest Rate on Your Second Mortgage
While it is possible to apply for a second mortgage through your bank or credit union, these institutions are restricted to selling their own products so there is little incentive for them to offer you their most competitive rate. At Circle Mortgage, we work with all the major lenders including banks and credit unions as well as several others – some of whom you can only access by working with a broker such as ourselves. With more lenders to choose from, there is more competition to get your business. And that means, you can be confident that you’ll get the best rates and terms possible in your situation.
How Can a Second Mortgage Improve Your Credit Score
Homeowners are choosing to get a second mortgage becacuse of debt consolidation. Although second mortgages have a higher interest rate than first mortgages, these rates are still significantly lower than other types of debt including credit cards and payday loans. Consolidating consumer debt using a second mortgage can lower your interest rates quite a bit – meaning that you can lower your overall monthly debt payments, pay off your debt faster - or even do a combination of both! It also makes your debt payments much more convenient as there is only one payment to remember each month which reduces the likelihood of accidently missing a payment. As you consistently pay down this debt, it will help your credit score to improve.
"First time buying a house is a very stressful experience, and Jivan at DLC really helped reduce that stress by clearly outlining the process before we began so there were no surprises along the way and of course I had a lot of questions, and he was quick to respond to them. Now I recommend Jivan to anyone that tells me they are considering to buy a house because of my stress-free experience."
"Jivan’s sense of ethics is endearing. Mortgages are a hard hit to a client and it makes my business worth working for when I work with a Mortgage Broker who works with my client and ensures that the Mortgage my client is signing into will not result in sleepless nights."
"It is truly a great pleasure to be working with Jivan. He is honest, friendly, and very knowledgeable about his industry. Do yourself a favour and contact Jivan first for all your lending needs!"
Lambros Bryan Demos
How Second Mortgage can help you out?
Access home equity
Finance a home renovation
Fund your child’s education
Get start-up capital for a business
Use loan for any purpose you choose
Consolidate your high interest debt
1How reliable is a Mortgage Broker?
Mortgage Brokers are independent, trained professionals licensed to represent and provide you with the best advice for your mortgage needs. Mortgage Brokers primary expertise is locating funding for mortgage financing. They know where the best rates can be found. What’s more, they have the knowledge required to present a proposal for financing to lenders in the best way possible to successfully obtain mortgage financing.
2Other than rates, why should I use a Mortgage Broker?
In addition to rates, because mortgage-based financing is the broker’s primary business, he or she has developed expertise in what type of mortgage financing each lender prefers to pursue. This kind of knowledge not only results in the most favorable rates for each project, but often whether a project is funded at all.
3How do Mortgage Brokers Find Superior Rates?
Interest rates are a concern to borrowers. Because of their daily contact with lenders, brokers know which project or home attracts a favorable interest rate from one institution, but a higher rate at another. Some institutions, in fact, will only accept mortgage submissions from mortgage brokers. These rates, and preferences for types of mortgages, can change daily, depending on economic circumstances or based on the size of an institution’s portfolio in a particular type of mortgage. Your Mortgage Broker keeps current and knows which lender to approach first. As a result, mortgage rates obtained by Brokers are among the best available at the time of placement.