Toronto, ON -- (SBWIRE) -- 12/28/2016 -- There is no doubt that the Mortgage Broker Store is one company that's been on the rise ever since its inception over 10 years ago. The brokerage firm now helps clients acquire second mortgages in Georgina, Ontario.
A 4-year report by MPAC (municipal property assessment corporation) indicates a growth in property value in Ontario, which has averaged 1.8 percent annually since 2012. That's why Mortgage Broker Store has decided to offer second mortgages to residents of Georgina and across Ontario.
The aim is to target homeowners looking to finance home improvements, consolidate debts, avoid property mortgage insurance, or cover part of down payment of the first mortgage.
Basically, a second mortgage, as the name suggests, is a loan taken after the first mortgage. It means that a homeowner can get loan and use his/her property as security, whereby the property has been mortgaged somewhere else. Second mortgages in Georgina are a great way of acquiring fresh loans.
Ron Alphonso, the founder of Mortgage Broker Store, puts it simply by saying, "second mortgages are a great source of cash, and can come in handy for most homeowners. Applying for a second mortgage comes with lots of upsides, such as long repayment terns, low interest rates, and flexibility interest rates."
Mortgage Broker Store specialises in helping clients who can't acquire loans from the banks, perhaps because of bad credit. Because of the low interest rates, second mortgages in Georgina are better alternatives to personal loans, credit cards, and unsecured lines of credit.
Therefore, as Alphonso reiterates, " if you are having trouble getting a loan, we can assist you where possible since we deal with debt consolidation loans and home equity refinance. We can also help out if you are in need of a self-employed mortgage."
Mortgage Broker Store is different from banks because of a more personalized experience. You get to speak with Ron Alphonso, who will take you through the procedures and help you understand the complexities associated with second mortgages.
In essence, large companies tend to shy from giving out second mortgages because of higher LTV (loan to value) ratios. But for Mortgage Broker Store, they have the backup of private lenders, as well as the capability to broker with larger banks.
Alphonso explains further, " with us, we check out a number of factors when calculating the interest rate you are to pay. We combine your credit rating with your property's LTV."
Unlike banks, the Mortgage Broker Store approves loans by relying more on home equity and less on salary. This is advantageous for homeowners since most people tend to have their money locked in their homes.
It is this money that Mortgage Broker Store helps borrowers to have access to, regardless of their credit score. In essence, second mortgages in Georgina help homeowners access to the right financial product for their situation. And with many satisfied customers, loan seekers can never go wrong.
Ronald Alphonso Mortgage Broker Store Brokerage Number: 12800
Address: 100 Consilium Pl. Suite 200
Toronto, ON, M1H 3E3, Canada