Second Mortgage Loans in Canada
In Canada, second mortgage loans are an additional loan that a homeowner can take on a property on top of a primary mortgage. Because a second mortgage is an additional loan, the risks for the lender are quite high, prompting them to charge higher interest rates for second mortgages as compared to a primary mortgage […]
What You Have to Know About the Rates of Second Mortgage in Canada
Mortgage rates are not the same throughout Canada. This applies to all types of mortgages including second mortgages. The reasons why mortgage rates fluctuate depend on many factors but location is a major determinant. Who Sets Second Mortgage Rates? The second mortgage rates are set by individual lenders within reasonable limits (for instance, they can’t […]
How a Mortgage Broker Can Make Your Life Easier
Mortgage brokers either have a negative or a positive image depending on one’s background and personal experience but the truth is, mortgage brokers only act as an agent or a middleman between a borrower and a lender, although some may be more conscientious about their job than others. What Does a Mortgage Broker Do? A […]