richardbaker
Member
Cash: $ 3.80
Posts: 18
Joined: 14 Dec 2017
Location: Toronto |
Second mortgage for buying a home |
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Hey,
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!
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