4361 Harvester Rd Unit 7, Burlington , ON L7L 5M4

Second Mortgage Canada

Forget High-Interest Loans And Get The Money You Need With A Second Mortgage
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Taking out home equity loans, or a second mortgage may seem like a daunting task for any homeowner to consider. Many people are under the assumption that second mortgages tend to have higher interest rates than a home equity line of credit. However, this is not always the case. Depending on the loan amount, there are many scenarios where a second mortgage on your property is the most sensical decision. It truly just depends on the lender.

Here at Circle Mortgage Group, we specialize in preferred second mortgage rates. Our mortgage brokers will work with you to determine the best course of action in the financing of your home. When you choose us, you will be choosing a mortgage provider that operates on trust, transparency and honesty. Call us today to learn more about how our services can help you, your home and your family.

Circle Mortage Group Makes Every Effort To Offer Our Clients:
Best Available Rates
Fast Approval
Quick funding
Customer-Focused Service

Circle Mortgage Group Can Provide You With The Advice and Help You Need To Secure Ideal Second Mortgage Rates

Circle Mortgage Group is a mortgage brokerage established by Jivan Sanghera. With twenty years of experience in the industry, Jivan has been awarded for her commitment and dedication to her clients. Our brokerage proudly serves clients all over Canada, both virtually and in our Burlington, Ontario office.

We understand that second mortgages aren't cause for celebration. Whether it's for debt consolidation, refinancing for a child's wedding, or simply just planning to move out on your own for the first time, another mortgage on top of an existing mortgage can seem stressful.

But that's why we're here. We want to help Canadians make informed decisions. We will provide you with all the lender information you need when undertaking this type of loan. We want the absolute best solutions for our clients, their home and their family, so trust our mortgage broker to give you the right advice and help you need.

Circle Mortgage Group Prides Itself On:

Affordable Services
Second mortgage rates, known as home equity loans, are actually more affordable when compared to a line of credit. We strive to provide friendly service that is affordable and efficient.
That’s why we strive to make our services as affordable as possible at all times.

Professional Team
Not only will we help you find the best mortgage products for you and your property, but we will take the time to make sure you understand the lender agreement.
Quality Solutions
Whether you are interested in a second mortgage loan or lines of credit, our team will work with you to find the best loan solution for you and your home.
Fantastic Interest Rates
Second mortgages have higher interest rates than first mortgages. At Circle Mortgage Group, we work diligently to get you the best mortgage interest rates with a preferred lender.

Looking For A Second Mortgage In Ontario?

As you pay off your primary mortgage payments, the equity in your home naturally builds us. Equity is the value of your property 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 in Canada, that allow them to borrow against their home equity. One of those tools is a second mortgage. A second mortgage is simply a loan that uses her home as collateral. Like the first mortgage, you would make monthly payments.

It does not require you to break your first mortgage. Most banks and private 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. Call us to learn more about how a second mortgage can help consolidate credit card debt or refinance your property.

Choose Circle Mortgage Group To Help With Your Second Mortgage

The team at Circle Mortgage is a highly experienced group of mortgage professionals 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 Canadians. Call us today for more information on how we can help you and your home.
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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. That means there is little to no incentive for them to offer you the most competitive rate. At Circle Mortgage Group, we work with all the major lenders in Canada, including banks and credit unions as well as several others. Some of these lenders can actually only be accessed by working with a broker such as ourselves. With more mortgage lenders to choose from, there is more competition to attract and retain your business. When you work with us, you can rest assured we will work to with you to obtain the best interest rate for your home.

How A Second Mortgage Can Improve Your Credit Score

Many homeowners chose to get a second mortgage because 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 like credit cards. Consolidating consumer debt using a second mortgage can actually lower your interest rates quite a bit. When you make payments on your mortgage, you can lower your overall monthly debt, which helps you to lower the value of your debt at a faster rate. It also makes your debt payments more convenient as there is only one payment to remember each month. This reduces the likelihood of accidentally missing a payment. As you consistently pay down this debt, can build towards better credit history.

Here Is How Second Mortgages Can Benefit A Homeowner:

  • Access to home equity
  • Finance a home renovation
  • Fund your child’s education
  • Start-up capital for a business
  • A loan for any purpose you choose
  • Consolidate your high-interest debt

How Second Mortgage can help you out?

Renovate your office space
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

Frequently Asked Questions

What are second mortgages?

Second mortgages are essentially home equity loans that allow you to borrow money from the equity in your home. This is beneficial when you are planning to make a big purchase or need to pay off debt. You can use your property as collateral.

What is a reverse mortgage?

A reverse mortgage is a mortgage loan. It allows the borrower to access the loan to value of the residential property. It can also be received as a lump sum. With a reverse mortgage, there are no monthly payments unlike a typical mortgage or lines of credit.

Can I get a second mortgage if I have a bad credit score?

A second mortgage can be used to improve your credit score. Despite your credit history, contact our office today so we can work with you to determine the best options for your situation.

Can I use a second mortgage for a down payment?

Thinking of purchasing a rental property or a second home? Unfortunately, a lender in Ontario or even Canada will very rarely allow you to utilize a second mortgage as a means of putting down a down payment on a new home or rental property.

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