You’ve paid your mortgage payment faithfully for several years, and you’ve built up a good bit of equity in your home. That value can be accessed and your money put to use in any number of ways. Doing so will require that you take out a second mortgage in Ontario. What might you use that money for? Actually, it could be just about anything. It’s your money, after all. However, some of the most common uses for cash from a second mortgage include:
You can gain access to these additional funds with the right financial tool – a second mortgage.
Of course, getting a second mortgage in Ontario requires that you take the right steps, and we highly recommend that you avoid big banks. There are quite a few potential problems that borrowers could face with these financial institutions, including a new term end date that will make it harder for you to change lenders down the road.
At Mortgage Captain, we can help ensure that you’re able to access the equity you’ve built in your home while maintaining the flexibility that you need (and deserve). To learn more about how we can help you get the second mortgage you need, contact us today at 844-254-4376.