2nd Mortgage
Do you want a lump sum of money that you can spend wherever you want?
We will help you get a second mortgage that you can repay gradually over time, often with fixed monthly payments of interest plus loan portion.
What is a Second Mortgage?
The Second Mortgage literally means getting an additional mortgage on a property, it is only possible to get a second mortgage if there is enough equity left in the house. You can borrow 80% of the appraised value minus the balance on your first mortgage.
Why should you get a second mortgage?
- To get extra cash to invest in a business, pay for emergencies or home renovations, etcetera.
- To consolidate high-interest debts or loans.
- You can get a second mortgage without discharging your existing mortgage.
How can you qualify for a Second Mortgage?
- Existing Equity: You will need to have enough equity left in the property
- Credit Score: Clean and Thick credit score is desirable
- Income: Having a steady income will increase your chances of qualifying for a Second Mortgage
Infinite Mortgage Solutions have qualified and experienced agents who will work smart to get your second mortgage approved!
Click on the link to download the Documents checklist.