Do you fit the following description? You’re aged between 25 to 75, employed or self-employed. You have one or more properties under your name. You’re at any stage of life, married, single, or going through a change like a divorce or separation.
You might have a significant consumer debt you’re looking to consolidate, or you’re seeking an influx of cash to invest in a new property or business venture.
Perhaps your credit score is less than perfect, or you’ve faced bankruptcy in the past. If this sounds like you, then continue reading, because this article is written precisely for you.
We understand your circumstances. Navigating the complex world of mortgages, especially when dealing with existing consumer debt or a desire to expand your investments, can be stressful.
Interest rates, fees, and the difficulty of finding a lending solution that truly caters to your needs can feel overwhelming. At MDG Services Inc., we’ve been in your shoes, and we know the path to financial freedom might be looking uncertain.
You want to leverage your existing assets and find a workable solution that can enhance your lifestyle and help you achieve your financial goals.
We get it. As mortgage advisors, we’ve seen and experienced the frustrations, the doubts, the struggle to find the best solutions. And that’s precisely why we’re here to help.
Introducing our second mortgage service – a product designed with you in mind.
This service is not your typical lending solution; it’s an empowering financial tool tailored to address your specific needs. Before we delve into how we can assist you, let’s first explore why a second mortgage could be the answer you’ve been seeking.
**Debt Consolidation:** With a second mortgage, you can combine your existing high-interest debts into a single, lower interest debt, making your monthly payments more manageable.
- Improved Cash Flow: By consolidating debts, you will free up more of your income for other expenses or savings.
- Home Improvements: A second mortgage can provide funds for significant renovations, increasing the value of your property like finishing a basement suite for renting or personal usage.
- Lower Interest Rates: Second mortgages typically have lower interest rates compared to credit cards or unsecured loans.
- Education Expenses: A second mortgage can provide funds to further your education or that of your children.
- Investment Opportunities: A second mortgage allows you to leverage your existing assets to invest in a new property or business venture.
- Avoiding Mortgage Default Insurance (PMI): By getting a second mortgage, you may avoid the need for default insurance which is often required for mortgages with a down payment of less than 20%.
- Emergency Funds: A second mortgage can serve as a financial safety net for unexpected expenses or financial emergencies.
- Payment Flexibility: We offer flexible payment options to suit your financial situation.
- Property Tax Payments: A second mortgage can help cover large property tax bills.
- Discharged Bankruptcy or Consumer Proposal: Unlike many lenders, we accept clients with discharged bankruptcy or consumer proposals.
- Large Purchases: A second mortgage can provide the funding needed for significant purchases, like a new car or major appliances.
- Starting a Business: If you’re entrepreneurial, a second mortgage can give you the funds needed to launch your business.
- Real Estate Diversification: A second mortgage can help diversify your real estate portfolio.
- Flexibility for Self-Employed: As we accept variable incomes, a second mortgage is ideal for the self-employed.
At MDG Services Inc., we stand out because we view each client as an individual, not a credit score. We’re committed to offering a personalized experience that fits your unique circumstances. Whether you’re based in an urban, suburban, or rural area in Ontario, we’re here to serve you.