Second Mortgage — Get the Best Rates in Calgary

Second mortgages are just what they sound like, if you already have a first mortgage then the second for foreclosure purposes is in second place. The second mortgage is usually facilitated by a private lender although occasionally we will see one come from the bank who has the first mortgage.

What exactly is a Second Mortgage?

Second Mortgages are based on the appraised value of a property and can go to as much as 85% of that value but most will only go to 75% in major cities. While regular first mortgages look at going to 44% of your debt servicing ratio, most second mortgage lenders will consider higher debt ratio’s as they are more interested in the equity in the property than the actual debt ratios.

Read More – http://www.brokersforlife.ca/second-mortgage-calgary/

Second Mortgage — Get the Best Rates in Edmonton

Second mortgages are just what they sound like, if you already have a first mortgage then the second for foreclosure purposes is in second place. The second mortgage is usually facilitated by a private lender although occasionally we will see one come from the bank who has the first mortgage.

What exactly is a Second Mortgage?

Second Mortgages are based on the appraised value of a property and can go to as much as 85% of that value but most will only go to 75% in major cities. While regular first mortgages look at going to 44% of your debt servicing ratio, most second mortgage lenders will consider higher debt ratio’s as they are more interested in the equity in the property than the actual debt ratios.

Read More – http://www.brokersforlife.ca/second-mortgage-edmonton/

Bridge Financing in Edmonton — Quick Loan Processing at Lowest Rates

Bridge Financing is an important tool for clients when they are selling their current home and wish to move to a new home before the sale of the existing home is completed.

How Bridge Financing Works?

Basically the process works like this the lender would advance the second mortgage and the remainder of any down payment to the new home and basically lean the existing sale to ensure that they recover the money lent for down payment. It can guarantees a smooth transition from one property to the next and takes away the head ache that can occur of trying to close two properties on the same day.

Read More – http://www.brokersforlife.ca/bridge-financing-edmonton/

Bridge Financing in Calgary — Quick Loan Processing at Lowest Rates

Bridge Financing is an important tool for clients when they are selling their current home and wish to move to a new home before the sale of the existing home is completed.

How Bridge Financing Works?

Basically the process works like this the lender would advance the second mortgage and the remainder of any down payment to the new home and basically lean the existing sale to ensure that they recover the money lent for down payment. It can guarantees a smooth transition from one property to the next and takes away the head ache that can occur of trying to close two properties on the same day.

Read More – http://www.brokersforlife.ca/bridge-financing-calgary/