What is the Interest Rate for Second Mortgages?
Our interest rates depend on each lender at time of application – we shop our lender marketplace to find the best rates available for our clients.
Are there any Fees Associated with Second Mortgages?
Depending on the complexity of your application, we usually do not receive a finders fee from the lender for placing Second or Private Mortgages. In most cases fees are charged by the lender and broker and they are based on a percentage of the loan amount. Our fees are disclosed up front once your application has been reviewed by the lender and there is no obligation to proceed. For your convenience fees are collected from the mortgage proceeds on closing.
Who Are Your Lenders?
Our lenders are typically private or secondary non-institutional lenders who do not lend by traditional means. Our lenders are equity based lenders who are NOT FOCUSED on credit or income. Our lenders typically focus on people and property not reports and numbers.
Is My Information Safe?
We are Licensed Mortgage Professionals in Ontario and your personal information will be used only for the purpose of mortgage financing. We will never sell, rent, lease or give away your information (name, address. email, etc.) to any third party unless providing such information to a third party is in effort of obtaining a mortgage approval for you.
How Long Before I Get My Funds?
Generally speaking our funding process may take up to 7 business days; however we have funded mortgages as quickly as 48 hours!
What is Your Maximum Loan Amount?
We do not have a maximum loan amount. However, we are currently accepting loan applications to a maximum of 95% of the value of your property. If you have enough equity in your home, we will most likely place your loan.
Are Your Testimonials Real?
Yes, our testimonials are 100% Real! We DO NOT use fake testimonials on our website. Our testimonials have been collected from past clients who have taken the time to express how we have helped change their financial situation. To protect their privacy, we do not use actual pictures of them and only use their first name and last initial.
Got Another Question?
Please contact one of our agents by calling us at 1.866.622.7876. We will be glad to assist you.