Homeowners take out second mortgages for many reasons. They may need the funds ranging from home renovation to children’s wedding or education or for making an investment. Depending on your circumstances, second mortgage may be a better alternative to carrying expensive credit card debt, etc. Urgent Mortgages Inc. can help review your circumstances and present to you different options for Second mortgages.
Second mortgages can get you quick access to money as the approval requirements are more flexible compared to traditional mortgages. They are usually interested only mortgages for a short term with a possibility of early payment. Second mortgages are expensive compared to a traditional mortgage because of higher interest rates and fees. However, mortgage payments generally interest only, which makes the mortgage affordable. Urgent Mortgages Inc. has access to private lenders with varying investment objectives and can match our client’s with appropriate lenders.
Second mortgages are best suited for people who have equity in their homes but have low credit scores or have an unsubstantiated source of income.
At Urgent Mortgages Inc. we will help you navigate the process of securing a second mortgage with our expert guidance and market research. We are dedicated to helping our clients find suitable interest rates and mortgage plans. We always encourage our clients to shop around for rates and payment plans until they find a deal that suits them.