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Second mortgage for buying a home

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Cash: $ 3.80

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Joined: 14 Dec 2017
Location: Toronto
Second mortgage for buying a home  Reply with quote  


I'm an expat in Canada. I got citizenship in late 2010. I own a food processing unit in Hamilton nearby Mystic Golf Club. I'm planning to apply for a home purchase mortgage. Buying a home is one of the biggest financial decisions that we make. I have already taken a loan to raise fund for my business. And so, this is my second mortgage. I must be more cautious in selecting the right one. One of the biggest barriers we face in the quest to purchase a home is gathering enough money for a down payment.

A few of my friends said that the approval rate for a home purchase loan is very low for banks. Also, banks and credit unions provide moderate interest rates. I came across a few ]mortgage brokers providing loan for affordable rates in Ontario. Do you know regarding the formal procedures to avail a home purchase mortgage from a broker? The flexibility in the mortgage payment can make us feel more comfortable overall with the home purchase. Guys, please share your suggestions and opinions regarding this. Thank you in advance!
Post Fri Dec 15, 2017 4:42 am
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