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Residential Second Mortgage

Second Mortgage

More money from the same property

Get a second Mortgage

Many lenders - based on the Loan to Value ratio offers a second mortgage on the property based upon sone conditions. Usually the interest rate for these types of loans are higher than the normal loan. The risk factor for a second mortgage is higher than a first mortgage. A lender may require you to get additional default insurence and fire insurences. Usually a home appraisal is required. There are interest only loans are also available by privet lenders.

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Canadian Mortgage Advisor
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