Second Mortgage Oshawa – 1OneFund Financial
Benefits of a second mortgage
It has taken you quite a few years to pay off the principal on your mortgage and build up the equity for your home. The best way to use that equity is to apply for a second mortgage. It is an ideal way to get the cash you need. A second mortgage gives individuals the opportunity to access up to 85% of the equity in their property. In return, they will receive a significant lump-sum benefit that can be used to pay off outstanding expenses or significant expenses, including debt consolidation.
This type of mortgage option is ideal for those traditional lenders that have rejected you because of a poor credit score. The best part of a second mortgage is even if you have in the past declared bankruptcy, you can still qualify as the only criteria is the equity of your house.
An additional secured loan
Are you looking to make the most out of your home’s equity? A second mortgage is an additional secured loan option to help in the event you are bankrupt or suffer from any financial consequences. For people with bad credit or low-income rates, you can still get a mortgage to cater to your specific requirements. Here at 1OneFund Financial, our team of experts will help you every step of the way as long as you have equity in your property. You can rest assured; we will have a mortgage approval for you.
The interest rates for a second mortgage are based on how much equity is present in your home. If your mortgage is of a low-level, it means your loan-to-value ratio is very low, making you eligible to qualify for a second mortgage with a lower interest rate. Other factors such as a high credit score or having sufficient income to pay off the debts also significantly help in lowering the interest rate.
Advantages of a second mortgage:
- It helps in getting rid of high-interest credit card payments
- Significantly improves your credit score
- You can fund your dreams powered by the equity available in your property
- It can be used to take care of a range of financial needs
Second mortgage in Oshawa
1OneFund Financial is a reputable mortgage broker that offers clients in and around the Oshawa area a full service on their second mortgage requirements. When it comes to taking out a mortgage on your home, we are the experts with years of experience in the trade. Even if our clients have a low credit score, it does not matter; we will get the approval for their mortgage as quickly as possible.
So, if you have plans to renovate your home, purchase your dream property, or even renew your existing mortgage plan to consolidate your debts, give our team a call today at 1-833-201- 3863 to help find the best possible solutions to suit your specific requirements. To schedule an initial consultation, or if you want the best advisors for a second mortgage in Oshawa, please do not hesitate to contact us.