What is an additional mortgage and is it right for me?
As the equity in your home builds, so does the opportunity for you to leverage that equity by taking out a second or third mortgage on your property.
Second or third mortgages can be used to consolidate outstanding debt from other sources, renovate your home, pay for your child's education, take out money for a down payment, or any number of choices. In most cases, the rate of interest on an additional mortgage can be lower than borrowing on a credit card, potentially saving you a lot of money in the long run. What's more, a second or third mortgage may provide you with more time to repay the loan, giving you added flexibility.
If you are considering taking out an additional mortgage on your home, the first step is to contact me to discuss your financing needs. After researching your options, I will provide you with the information you need to make a sound decision.