Tag: Private Mortgage

17
Jun

High-Ratio Mortgages

A high ratio mortgage is when the borrower has a down payment of less than 20% of the property’s total price. This is also known as a loan to value (LTV) of more than 80%.  For a home priced $500,000 or less, a down payment of 5% should be made, and this goes up to 10% on any amount over

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16
May

Benefits of Refinancing your Mortgage

Refinancing involves renegotiating the current mortgage on your home to acquire equity or to benefit from lower interest rates. Refinancing can help to consolidate debt, car loans, student loans and help with expenses such as education, renovations or even use the equity take out to buy an investment property.   In many financial situations, a refinance is a great way

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14
Apr

Is Refinancing Easier Than Getting A Mortgage?

When you get a new mortgage to replace your original, it is called refinancing. With a refinancing, the loan you initially got to purchase your home is paid off, which allows the second mortgages to be created. For borrowers that have a great credit history, refinancing is a great way for them to convert a variable loan to a fixed

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23
Mar

When Is The Right Time To Refinance Your Mortgage?

Refinancing your mortgage is a significant life decision and often a cost-effective move, but not always. Refinancing a mortgage is not free and because there are costs associated, sometimes obtaining a lower interest rate can become far more expensive than the loan you currently have. That is why timing is far more significant than many realize. How can you determine

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27
Jan

Are Private Mortgages Regulated?

Mortgages can be obtained through banks and mortgage brokers, although the unregulated mortgage market is another option borrowers can look into. If this is the route you’re considering, it is very important to understand all of the details surrounding this option so that you’re fully aware of what this loan entails.  Private lenders make up the unregulated mortgage market and

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5
Dec

What Is Private Mortgage Lending?

Are you looking to buy a home but have an unconventional financial portfolio? A private mortgage is a loan that is financed through non-traditional lenders such as banks and credit unions that may be a great alternative for you. They can be a great solution for individuals who are struggling to get a loan but do not qualify for traditional

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22
Nov

All about Second Mortgages

If you’re considering a second mortgage, it’s important to understand the details surrounding this option so that you can be sure that it’s right for you. In short, a second mortgage is an additional loan that is taken out for a property that already has an existing loan because it is already mortgaged. Lenders view this type of loan is

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23
Oct

Understanding The Differences Between Cash-Out Refinancing and A Second Mortgage

Are you considering accessing your home’s equity? Two methods for you to go about doing so, including refinancing your mortgage or taking out a second mortgage. The two require different criteria and varying reasons for choosing between them, which should prompt you to decipher which method is most suitable for you. To determine which option is the most practical for

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6
Aug

Is a Second Mortgage Right for You?

If you’ve been wondering whether or not a second mortgage is right for you, Dhugga Mortgages wants to help you understand exactly how a second mortgage works so you can decide if it’s right for you. A second mortgage is not very different from your first mortgage and works the same way. After you apply and get approved, you will

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27
Jun

Should I Apply for a Private Mortgage?

Not everyone has the necessary requirements imposed by lending institutions like banks to apply for a traditional mortgage. For this reason, private mortgages are available to those that need a different route to access a loan in order to purchase a home. A private mortgage is for borrowers who aren’t considered low-risk clients, the ideal candidates that traditional lending institutions

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