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Aurora (2016 population 55,445) is a town in central York Region in the Greater Toronto Area, within the Golden Horseshoe of Southern Ontario, Canada. It is located north of the Town of Richmond Hill and is partially situated on the Oak Ridges Moraine. In the Canada 2016 Census, the municipal population of Aurora was the 95th largest in Canada, compared to 97th for the 2006 Census. Aurora has been ranked in the top 10 wealthiest towns in Canada. Aurora is situated just north of the Oak Ridges Moraine and borders Newmarket in the north, Richmond Hill in the south, King City in the west and Whitchurch–Stouffville in the east.
Our team is considered to be one of the best mortgage broker team in GTA region, with the necessary experience to help you get the best rate for first time home buyers, New to Canada, or credit challenge clients. We deal with hundreds or properties from Aurora and the GTA, and we make the process as simple and easy as possible.
We deal with every type of mortgage including: first mortgages, second mortgages, reverse mortgages, blanket loans, and more! Traditional lenders, such as banks, have very strict lending criteria. We have different lenders that offer more favourable lending criteria that will aid the majority of our clients to get a loan they need at very competitive rates.
We have a wide variety of lenders that can fund your next mortgage. We have the lenders compete against each other in order to drive the prices down and save you more money.
An independent mortgage brokerage, not committed to any lender, our commitment is to our clients and to offering them the best service while delivering the very best mortgage rates.
We have experience in providing both residential as well as commercial mortgages. No matter what your needs are, we will be able to provide the funds that you need at the best rates.
Have any questions? Call or email us today, and get advice from our professionals immediately!
A second mortgage can be defined as a secured loan that has been placed against a property after a first, initial mortgage.
According to real estate law, there is no firm limit on how many mortgages can be put on a property, in practice having more than three mortgages is extremely rare. The numbering for the mortgages is determined by the order in which the mortgages were placed. The mortgages placed first, would be the first mortgage and so on, regardless of the value of the mortgage.
When it comes time to pay the mortgages off, they must be paid off in the order they were paid. So a first mortgage must be paid first, then the second mortgage must be paid, and so on. Since second and third mortgages must be paid after the first, there is more risk, and are therefore more expensive.
In the case of the length of mortgage terms, the time it takes can vary from 1 year to 30 years. It is best to go over this in details with your mortgage adviser to determine which length would be most suitable for you.
What are reasons to need a second mortgage or line of credit?
If you have enough equity in your home you can qualify for an Aurora home equity loan. To qualify for this loan, your existing mortgage can not exceed 75% of the present value of your house.
Many people have bad credit and have been turned down for a loan or mortgage by their local bank. A bad credit mortgage is based on the equity in your home. A bad credit mortgage is not based on your credit score or income.
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