Cornwall Second Mortgages Now Provided by Mortgage Broker Store
The professionals at Mortgage Broker Store have been serving Ontario for 10 years. They are in the business of providing second mortgages all over Ontario and now, they are serving the Cornwall second mortgage market.
December 26, 2016 ( datsyn.com) – A second mortgage is any loan secured against real estate properties. Homeowners often choose this type of loan in an attempt to access equity. Lenders don’t dictate how the money is used so the customer is free to use it for personal matters like renovations, taxes or credit card debt.
We talked to the president of the Mortgage Broker Store and got some insight on why clients choose second mortgages. He explained that it is because “second mortgage loans are the most affordable option”. He added that second mortgages don’t charge much interest compared to other available alternatives. Payday loans and traditional lines of credit are very expensive and therefore not a sensible choice for residents.
“I don’t understand why anyone would want to charge a large amount to a credit card and pay 20% interest rate when there are second mortgage options that charge less than that”. Those that qualify for second mortgage loans can enjoy interest rates as low as 8%.
Another reason why people prefer a second mortgage is flexibility. Clients can choose among different payment options that fit their financial situation. Skipping payments, taking breaks and holidays so that you make payments only when you can afford to. Mortgage Broker Store also offers flexible payment terms ranging from months to a number of years according to various clients’ needs.
If you are a seasonal worker, self-employed or employed and living in Cornwall, Mortgage Broker Store may be able to provide financing. “We have a wide range of credit options offered by licensed mortgage brokers”. The president says that they have products suitable to all clients according to their situation. “We are serving clients in many cities across Ontario and are looking forward to serving clients in Cornwall, ON”.
The president explains that, “at the Mortgage Broker Store, we don’t approve loans based on one’s salary but rather on home equity. If there is a lot of money tied up in your home, we can let you access it no matter where you work or how much you earn”. www.mortgagebrokerstore.com