A third mortgage is a lien or charge on property which falls behind first or second mortgages.
If a home owner were to default on their mortgages, the third mortgage would be paid only after the first and second mortgages have been paid. As with first and second mortgages, a home owner would pay monthly payments to a lender.
As with second mortgages, third mortgages are riskier to lender as compared to first mortgages. If you are looking for an Ajax third mortgage which will offer you flexible terms call Expert Mortgage today. After we analyze your financial situation, we may find that you would be better consolidating the second into a new second rather than getting a new third mortgage.
Depending on your income type, credit, property location and size of the loan, we can provide you with a number of offers from our large range of lenders. We have arranged hundreds of second and third mortgages for debt consolidation, home renovations, business loans etc.
If you are a home owner looking for quick access to money, second or third mortgages are very good option. Up to 85-90% of your home equity could be used to provide you with cash.
After we receive your application, usually the next step is to get a current appraisal so that a potential lender knows the value of the home.
The great thing about working with private lenders is that they are often more flexible than banks and financial institutions which have very clear set guidelines and lending procedures. Their rates can be more flexible as well as having more flexible repayment schedules. It is also often much quicker getting approved for an Ajax third mortgages with a private lender compared with traditional banks and institutions.
Borrowers using Expert Mortgage can get the second and third mortgages quickly because we have access to so many private lenders across the province. Clients do not have to wait long for an approval (often same day) or go through a long process with lots of red tape and paper work. Our loan specialists help get Ajax third mortgages arranged and financed quickly.
To find out more information please contact us today and we will guide you through the process whether it be for a first, second or third mortgage. Don’t forget that we also provide commercial, construction and farm loans as well.
We provide all kinds of mortgages and business loans to our clients. Our licensed mortgage professionals do all of the leg work for you and shop around to get you the best deal that meets your needs. We also specialize in commercial and agricultural mortgages and loans. The more challenging the deal the better! Because we have some many private funds we can offer solutions for most situations and close quickly. At Expert Mortgage we provide fast and reliable service to our clients in a professional manner. We represent you and always look for the best rates and terms that meet your specific needs.