When to set up a 2nd position mortgage
There are many ways to access home equity and a 2nd position mortgage can be the most optimal option to achieve this.
KEEEP YOUR EXISTING 1ST POSITION MORTGAGE
Take advantage of your low interest first position mortgage or avoid paying prepayment penalty and get additional funding from your equity by setting up a 2nd position mortgage.
ACCESS THE EQUITY IN YOUR HOME
Access the equity of your home by setting up a 2nd position mortgage. You may use the advanced funds as you wish and the amortization period can be extended up to 35 years.
FLEXIBLE INCOME QUALIFICATION RULES
While your income may not qualify you for standard mortgage refinancing, setting up a 2nd position mortgage may be a valuable alternative.
COMPETETIVE RATES
We work with a select list of lenders that specialize in 2nd position mortgages. These industry partnerships have allowed us to offer the best interest rates to our clients.