The mortgage professionals at Cambridge Mortgage Experts have extensive experience with properties in Cambridge as well as neighboring cities. Our mortgage agents can help you reduce your month to month payments and help you save money.
The team at Cambridge Mortgage Experts have decades of experience in arranging mortgages for people in Cambridge and the GTA. Our specialty is bad credit first and second mortgages. The mortgage agents at Cambridge Mortgage Experts can help you save up to 50% off your current mortgage payments. We have helped many of our clients save thousands of dollars on credit card debt, car loan debt, and other misc debts.
In the past, our clients have used mortgage money for the following:
- Combine many high interest loans into a single low interest loan
- Increase the value of their home via renovations
- Pay university or college tuition
- Paying government taxes
- Invest in a new business
We use the equity in your home for the security in the second mortgages that we provide. Properties can have as many mortgages on it, provided that there is enough equity in the property to justify additional mortgages. The order in which the mortgages are paid, is determined by the chronological order in which the mortgages were placed.
For people purchasing a property in Cambridge, the mortgage is a legal document that allows you to borrow against your property. The majority of homeowners in the GTA possess at least one mortgage. Mortgages allow people to live in their home in exchange for small monthly payments that gradually pay off the mortgage loan.
Mortgages are to be paid off in the order in which they are placed on the property. Generally, the higher the mortgage number, the more more risk the mortgage lender has to take. Due to the increased risk, lenders on second and third mortgages typically have to charge higher interest rates.
Amount Of Money That Can Be Borrowed With A Mortgage
Generally, we can provide loans where the homeowner has at least 90% equity in the property. For example, if the home is worth, $1,000,000 you can get a mortgage up to $900,000 in value.
Let us help you with your next mortgage, call or email us today.