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Looking to Apply for a First & Second Mortgage in Brantford?
Whether you are buying your first home or leveraging the equity in your current property, if you are in Brantford, turn to Mortgage Financial Corporation's Dan Brown (Mortgage Agent Level 2 | # M08003062 | License # 10421) for first and second mortgages. We can assist you by making the entire process much simpler and help you understand the best option for you. Contact us for more information about our brokerage services.
What Is a First Mortgage?
A first mortgage is the primary loan you take out to purchase a home or refinance an existing loan. It holds precedence over all other loans and as such has priority over any other loans you may take out against your home. A first mortgage is secured by the value of your home.
What Is a Second Mortgage?
A second mortgage is an additional loan taken out against the equity in your home. Since it is a subsequent loan against a property, it carries more risk for the lender. Second mortgages allow you to access additional funds without refinancing your first mortgage.
How We Mortgage Financial Corporation Can Help
We as brokers can help you avoid a high interest rate that the lenders may levy. Usually, individuals with a bad credit history have difficulty in applying for a second mortgage. We also assist people with a bad credit history to get a second mortgage. We are able to do this owing to our in-depth knowledge of the market and a deep understanding of the intentions of the lenders.