A second mortgage can help fund home renovations, pay off debt, finance education, or meet demanding financial obligations. If you hold value, or equity, in your home, you could be a great candidate for a second mortgage from Mortgage Forces.
A second mortgage is a loan secured against your property. There are two main types of second mortgages, and we can help you decide which one will best meet you and your family’s financial goals. A home equity loan is very similar to a typical mortgage, and this product can be secured with a fixed rate or an adjustable rate. Alternatively, if you use your second mortgage as a home equity line of credit (HELOC), the amount of the loan essentially becomes a line of credit with a variable interest rate and no set term. This is a great way to make necessary renovations without a costly one-time expense. Many times, the loan amount for a second mortgage is larger than the amount available for the initial mortgage.
Mortgage Forces is unique because we work solely with those involved in the Canadian military. We understand the unique challenges that come with obtaining a variety of home mortgage products and work at no cost to our clients, helping them secure the best rates in the industry.
Contact us today to learn more. Our agents can help match you with a second mortgage that fits the needs of your family.