The mortgage experts at Mortgage Broker Store have been serving the second mortgage market in cities throughout Ontario for more than 10 years. In order to the meet the demands of their clients, they are expanding their locations to include the Belleville second mortgage market.
A second mortgage is a loan on a piece of real estate or property that gives the borrower access to money. The money comes from the equity in the home, in which case the money belongs to the homeowner and they can spend the money as they wish without any restrictions or contingencies. This allows homeowners to use the money from the second mortgages in Belleville in a variety ways. That could be paying off credit card bills, remodeling the home, financing their child's college education, or anything else the borrower desires.
Ron Alphonso, president of the Mortgage Broker Store, was asked about the financial benefit of a second mortgage for the homeowner. “They often allow homeowners to get ahead financially and prepare themselves for an upcoming milestone in their life,” he says. Alphonso further mentions that second mortgages in Belleville are preferred over personal loans and other unsecured means of financing, as the clients do not pay back as much money over the course of the loan with a secured mortgage.
When a person uses a credit card to make a major purchase, many times they end up paying for that purchase as much as 10 times over. That is money that could be used for other things, not to mention it puts the homeowner much further in debt. With a second mortgage, the interest rate is so low that at the end of the loan, the clients have paid less money than they would have paid if they have borrowed the money from a different source.
Having the flexibility to customize the loan to fit their needs is another advantage that clients appreciate when applying for second mortgage with Mortgage Broker Store. The terms of the second mortgages can be modified using features that take the stress away from repayment. Clients are able to skip payments, make penalty-free pre-payments, as well as adjust the terms in order to customize the experience around the circumstances of their life. Since the terms can be altered, clients can ensure that their payments are low and affordable.
People who live in Belleville and operate their own business, or are employed in a seasonal industry, are often rejected when applying for second mortgages from traditional lending institutions. “That is the reason why we expanded our services” says Alphonso. “The Mortgage Broker Store’s lending requirements are based on the equity of the house, not the clients credit score or place of employment. That means the more equity they have in their home, the more money we are able to lend them. And it's actually that simple.”
The professionals at the Mortgage Broker Store work diligently every day to provide the residents of Belleville a variety of lending options. “Each of our mortgage brokers have been thoroughly trained on how to identify the best products that fits each individual situation. Not only are they trained to focus on the client's needs, but they are also to find the product that offers the best terms and flexibility that accommodate the situation.” says Alphonso. “We have successfully arranged second mortgages for clients and just about every major city in the Ontario area.”
Mortgage Broker Store,
Brokerage Number: 12800
100 Consilium Pl Suite 200 Toronto, ON, M1H 3E3, Canada
Phone Number: 416-499-2122
Email Address: [email protected]
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