Equity loans, sometimes referred to as second mortgages, can be used to consolidate debt or access cash for any reason. These mortgages are typically reserved for people who cannot qualify for traditional bank financing. Interest rates are higher than on regular mortgages and fees will apply. If you are having financial difficulties we can still often help, assuming there is enough home equity (i.e. 25%). We work with many private lenders, including mortgage investment corporations (MIC) and individual investors. Most 2nd mortgages have interest-only payments with 1 year terms and minimal documentation required.
Example Your current 1st mortgage with bank: $300k Market value of home: $600k New home equity loan: $150k or 75% Loan to Value (LTV)
Investment. We are currently seeking investors for a mortgage fund and individual loans providing excellent returns. Please contact us for more information.
Home Equity Loans | 2nd Mortgages Vancouver BC Canada