Getting a Second Mortgage Burlington Can be an Excellent step in the Right Direction – But Make Sure to Pick Your Mortgage Broker Partner Well

Heres Why…

Getting a second mortgage Burlington can be an excellent idea – it can help to consolidate high-interest debt, provide cash flow, stop a foreclosure, pay CRA debts or for any other purpose.

But there are a few things that we suggest is worth keeping in mind. There are often BIG differences in the quality of the mortgage and service that you receive when it comes to a second mortgage in Burlington.

  • Rate – We are not looking at a 2% rate here, however, some identical second mortgages have lower rates than others.
  • Fees – second mortgages do have fees. The lower the fee the better. The fee should be included in the mortgage.
  • Term – Is the term open or closed? Would this make a difference for you?
  • Payment – Are there monthly payments on the mortgage, or are the ‘payments’ included in the mortgage amount (ie. paid upfront, included in the mortgage).
  • Plan – There needs to be a plan to get out of the second mortgage. The second mortgage is a good stepping stone to get you on the right track however it should be a clear goal to consolidate or pay out the second mortgage to save on the higher associated interested costs.

At Altrua Mortgage Brokers Burlington, we strive to provide the best second mortgage service from all of these angles and others too.

Connect with us today with your questions and for a fast, efficient, low document approval service.