The financial professionals at Mortgage Brokerage Store have been working diligently over the years to provide their clients with second mortgage products for over 10 years. With their recent success, the company is expanding their offices and establishing a new location in Milton to service the second mortgage market there.
A second mortgage is a financial product which allows homeowners to tap into the equity of their home. Borrowers can utilize a second mortgage to cover living expenses, make home improvements, pay for college education, reduce debt or whatever else they decide is most appropriate use for the money.
A second mortgage is not only an attractive product for clients in Milton because it gives them access to money, but it also allows them to achieve goals and make investments. Ron Alphonso, president of the Mortgage Brokerage Store, stated that “Many of our clients that apply for second mortgages in Milton are planning to use that money to better their life. People who apply for second mortgages typically have spent many years building equity in their home, and now they want to reap the benefits of their hard work by starting businesses, buying investment properties and investing in small businesses”.
In fact, second mortgages in Milton are great alternatives for funding projects and business start-ups, as they are less expensive than credit cards and personal loans because they carry lower interest rates. Alphonso asserts that “Some credit cards carry entries as high as 20%. Our clients are financially savvy, they understand the benefit of getting a second mortgage in Milton that only carries a 10% rate.”
“Second mortgages also make better alternatives because they can be customized to fit the clients’ needs.,” Alphonso adds. “Interest only loans, prepaid interest packages, and the ability to skip payments just a few of the ways that second mortgages are flexible and personalized.”
Another way that second mortgages offer flexibility is because of their qualification requirements. Self-employed borrowers and those who have recently changed fields of employment often experience reluctance when applying for traditional loans from conventional banks. But because second mortgages are based on the amount of equity in the home, and are secured against the property, the employment and income requirements are much more relaxed.
The second mortgages in Milton provided by Mortgage Brokerage Store are not restricted by banks’ rules. Instead, they focus on the value of the property as it relates to the existing debt left on the existing mortgages. Alphonso says that “Even after being denied a loan from other lending institutions, neither the clients' career nor credit score is a barrier here at Mortgage Brokerage Store.“
“Our mission is to find the right products that fit the borrower's needs and situation. We have experienced an influx of requests from one city to another, throughout Ontario for second mortgages. We have been working diligently to respond to each of those requests. In order to do that, we had to expand. That is what brought us to Milton. The customers called on us to be here for their needs, and that is what we are going to do,” says Alphonso .
Mortgage Broker Store
Brokerage Number: 12800
Address: 100 Consilium Pl. Suite 200 Toronto, ON, M1H 3E3, Canada
Email: [email protected]