Second Mortgage Hamilton

Many homeowners are not aware of the fact that they can take multiple loans against their homes. The first loan, known as the first or the primary mortgage is usually taken while buying the house. The next loan against the same property, while your primary mortgage is still not fully paid, is known as the second mortgage in Hamilton. Having a good understanding of how second mortgages work can prove to be very useful when you need large funding for urgent expenses or when you want to enhance the value of your home through modifications. At Expert Mortgage, we can help you secure a first, second, and even third mortgage, even if you are struggling with unsecured debt. We can also get you on the path of debt relief and financial freedom! Read on for more information about getting a second mortgage from Expert Mortgage.

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Key aspects of a second mortgage in Hamilton

A second mortgage is subordinate to the first one, which means that in the event of a default, the first mortgage will get priority in terms of repayment. Only after the first mortgage has been completely repaid from the sale proceeds, will the 2nd mortgage lender be able to recover the loan. A mortgage is always taken out against the equity in your home, and second mortgages are no exception. The loan amount that the second mortgage lender will offer you directly depends on the equity built up in your home. Interest rates on a second mortgage are higher than those charged on the first one. This is because the second mortgage lender is taking a higher risk, as they get second priority in the case of a default. So before you opt for a second mortgage, find out what the monthly payment amount would be and if you can afford it.

How can I benefit from a second mortgage in Hamilton?

The cash that you get when you take out a second mortgage can be used for any purpose. Homeowners typically use the money to buy a new car, pay towards college fees, to remodel or refurbish the house etc. Home improvements add value to the house and guarantee a better price should you decide to sell the house in future. This means that you are using the money from an asset (your home) to increase the value of that asset itself. Those with mounting credit card debt can also take out a second mortgage for debt consolidation purposes to make repayments more affordable and manageable.

If you would like to know more about what a second mortgage in Hamilton can do for you, or how you can use it, please feel free to continue browsing through our Expert Mortgage website. Click here to find our contact information and to fill out our contact form.

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Superior Products & Services

Expert Mortgage specializes in clients with bad credit and unprovable income. We have access to OVER 400 PRIVATE LENDERS we can offer mortgages to clients that most other mortgage brokers can’t help. These private lenders are people like you who choose to invest in mortgages instead of the stock market. They want to make a good profit and help other people, who through no fault of their own, have some credit or income issues.

Great Customer Experience

Expert Mortgage professionals have been providing effective financial solutions to clients for over two decades. We pride ourselves on giving the best possible service to our clients by using no nonsense credit application procedures and tirelessly searching out the lowest interest rates in Canada.

Custom Solutions

Every client is different. We can appreciate the subtleties of your specific requirements. We make a point of treating every single one of our clients as an individual who needs a mortgage solution designed just for them. If you are considering refinancing your existing mortgage or buying a second home we will gladly use every tool at our disposal to help you achieve your goals.

WHAT PEOPLE ARE SAYING…

  • “We were 6 months behind on our mortgage and the Sheriff was coming in 5 days to lock us out of our home. Every other mortgage broker said NO! I can’t believe you were able to get us a second mortgage that fast. You saved our home and I will refer everyone I know to you.”

    C.C., Oshawa, ON
  • “Once again, a big thank you for arranging our new mortgage and being able to arrange for additional funds on closing. Matthew has worked hard for me over the last few years… I have a very high level of trust in Matthew and Expert Mortgage, and will surely recommend you to anyone I know who is in need. Thank You.”

    M.Z. Brantford, ON
  • “Every time I’d walk into a bank and say the word ‘farm’ the suit on the other side of the desk would look at me like I was from another planet! They had one agricultural ‘specialist’ for the area that was not much better. Then I went to 4 mortgage brokers before I stumbled on your company. Your rates were lower than the bank.”

    M.D., Bradford, ON
  • “Our credit was destroyed after we had a bad year. We needed to expand our facility. I explained to the bank that the expansion would make us profitable. I proved it on paper. They still declined us. I never heard of your ‘no questions asked’ private loans but you gave me $500,000 with no paperwork. That was a Godsend. My wife and I appreciate it from the bottom of our hearts and we won’t let you down.”

    R.Q., Woodville, ON
  • “My pig farm always made good profit but last year was brutal for the whole industry. I fell behind on my mortgage. I showed FCC that my loss was just a temporary blip and asked them to give me some leeway but they started a foreclosure anyway. Thanks for getting me that private loan to buy me some time until I’m profitable again.”

    K.O., Hawkesbury, ON
  • “Matthew’s knowledge, experience and above and beyond work ethic sets an exemplary standard of professionalism and accountability. His integrity and drive is second to none… He truly is a miracle worker!! I have no hesitation in recommending his services to anyone seeking expert assistance. I’m beyond grateful and blessed!!”

    M.D., BINBROOK, ON
  • “The bank refused to value my property based on all 211 acres. They said that their ‘rules’ limited it to 5 acres. Personally, I think that’s biased against farmers. I didn’t know that you had lenders who would value my property on all the acres. I finally got a large enough loan to tie all my debt into one payment. Thanks!”

    C.R., New Dundee, ON
  • “I can’t say enough how great your company has been. Matthew, thank you so much for making all of this process so easy for us. Our bank would not help us and you were amazing. Your company kept us informed every step of the way, and not once were we made to feel inferior like our bank did. The lawyers you set us up with were also awesome. I will highly recommend your company to anyone looking for mortgages. Thank you so much for getting creditors off or back and setting us on the right track. You guys are all amazing. I’m also so impressed that you came to us do to everything.”

    KKP, Hamilton, ON
  • “I just want to say ‘thank you’ to all of you, especially Matthew. The financial stress started affecting my health and my life. I could not sleep or focus at work. Now Expert Mortgage has given me control on my life by connecting me to a great lender. I have gone from being full of stress to being stress-free.”

    M.D, Mississauga, ON
  • “We would like to thank Mathew and his team at Expert Mortgage. We put a lot of money down on a Rent to Own property that we were renting, but we could not get anyone to help us out till we found Mathew. He made it happen and closed on time when know no one else could. From all of us here THANK YOU! We now own our own house!”

    C.T., Hamilton, ON
  • “My ex-wife’s lawyer gave me 30 days to buy out her half of our house or have it put up for sale. I had no job and I was in bankruptcy. My bank manager laughed at me. I thought it was hopeless until I saw your flyer. I don’t know how you qualified me for the mortgage. You’re a miracle worker. Thank you!”

    J.R. Burlington, ON
  • “Thank you for all the help that you gave me, most patiently and with deep understanding. I was very comfortable asking you everything and anything. Your team did great job in making me understand the financial side. I have learnt a lot. Thanks to Matthew for taking time to come to my place. He not only did his work, but for a short time, took me back to most nostalgic memories of my life, before I came to Canada. I am also grateful to the lawyer for coming to my place to meet with me, and quickly closing the mortgage and releasing the funds. “

    S.S. - Mississauga, ON
  • “The bank would not lend money on our farm unless we showed them financial statements. Since my husband passed away, my son and I were struggling to keep the farm afloat. We just needed more time. The third mortgage you got us was the miracle we needed. You believed in us and we are so grateful. Thank you.”

    S.E. Orono, ON

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