4 Ways a Second Home Mortgage Can Give You Financial Freedom

Have you been wondering if securing a second mortgage on your home would be a wise move? If so, you are not alone. It’s been estimated that as many as half of the homeowners in the GTA have considered the idea at one time or another. In fact, there are ways to use the proceeds from the mortgage loan and improve your financial stability. Here are four examples to keep in mind.

Is There a Better Time Than Now to Purchase a Home in the GTA? (Even With Bad Credit!)

Without a doubt, there are times when it makes sense to purchase a home and other times when it makes sense to wait. For anyone who is thinking about buying a home in the Greater Toronto Area, now is the time to look into financing options. This is true even for people who don’t have the best credit. Here are some things you need to know about the housing marketing the GTA and why the current state makes it such a great time to buy.

Can I Get a Home Loan With Bad Credit?

According to the Toronto Real Estate Board, more than 113,000 residential dwellings were sold during the calendar year of 2016. Not all of those sales were due to buyers with excellent credit. If you think there is no way you could be approved for a mortgage, think again. There are lenders who will work with you in spite of those lower scores. Here are some of the ways you can improve the odds of being approved even if your credit is not the best.

Is Now the Right Time to Attack the GTA Home Market?

The Toronto Real Estate Board has released figures for the month of May 2017 and they indicate a change in what has been happening for some time. Unlike previous months, the number of homes sold in Toronto proper and the GTA in general was lower than compared to the same period in 2016. Even so, the increase in housing prices for the area was 15% more than during May 2016.

How Might the 15% Tax on Foreign Buyers Affect Ontario’s Housing Market?

There has been a lot in the news about the booming housing market in Ontario. In particular, the GTA has experienced an unusually strong market with bidding wars on properties that would normally be less in demand. A recent report indicated that the March 2017 average price of a home in the Toronto market was up 33% over the cost of a similar home in March 2016.
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