Toronto, ON -- (SBWIRE) -- 01/19/2017 -- Welland is the newest city serviced by Mortgage Broker Store, which has been in the Ontario market for more than a decade. The move was prompted by a clear need for affordable loans in an environment where existing lenders have a hard time offering alternative lending solutions.
Second mortgage loans are secured against real estate property. A second mortgage loan is one that can be used for any purpose you wish.
Payday loans and credit cards charge high interest rates up to 20% which is typical of unsecured loans. Second mortgages are secured against real estate and are considered to be less risky investments than unsecured loans. Since the risk is lower with second mortgages, lenders charge lower interest rates when compared with credit cards and payday loans.
Besides lower interest rates, second mortgage loans provide flexible payment features to suit different clients. Private lenders are generally more flexible than banks, and are able to build in customized mortgage terms to suit a person's individual needs. Depending on your financial situation it is possible to skip, take a break or choose to pay early without fines or severe consequences.
Creditors today have very strict requirements regarding an individual's earnings. Mortgage Broker Store doesn't concentrate on clients' earnings as they can provide loans that are secured against real estate. The money they provide can be used to pay utility bills, school fees or other debts. The brokerage works closely with their clients to make sure that they get mortgages that meet their needs. A second mortgage loan can be used to pay bills and pay for other living expenses. Second mortgages do not focus on credit score, instead they based on the equity in your home.
Mortgage Broker Store
Brokerage Number: 12800
Address: 100 Consilium Pl. Suite 200 Toronto, ON, M1H 3E3, Canada