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Posts Tagged Prudent Mortgage Corp

Preparing to Refinance/Renew Your Mortgage at a Higher Interest Rate

Preparing to Refinance/Renew Your Mortgage at a Higher Interest Rate

Are you planning to renew your mortgage soon? If so, you could be in for sticker shock. Economists estimate about 24.1% of mortgages will renew in 2020, and 26.8% in 2021. Since 2017, we have seen interest rates rise significantly, going from 0.5% to 1.75%. If you…

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When Does a Second Mortgage Make Sense?

When Does a Second Mortgage Make Sense?

Is a second mortgage the right choice for you? If you’ve been wondering the answer, here’s how to tell. First off, let’s define what a second mortgage is. When you first buy your home, you take out a purchase loan – your first mortgage. This is typically…

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Borrow with Your Home Using Our Unique Home Equity Loans!

Borrow with Your Home Using Our Unique Home Equity Loans!

Borrow with your home using our unique home equity loans! Benefits: NO mortgage closing costs since this is a loan, not another mortgage. NO property appraisal. NO need for other people on title to sign. NO property registration required. All you need is 50% equity in your…

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Financial Spotlight: Homeowners Currently in a 5-Year Fixed Mortgage and Preparing for a Higher-Rate Renewal

Financial Spotlight: Homeowners Currently in a 5-Year Fixed Mortgage and Preparing for a Higher-Rate Renewal

If you are in a 5-year fixed mortgage, it’s possible that you are up for renewal this year or in the very near future. Nearly 50% of Canadian homeowners will be renewing their mortgage between 2018 and 2020. If you are in this boat, there are several…

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GTA and Toronto Mortgage Closing Costs in 1-2-3

GTA and Toronto Mortgage Closing Costs in 1-2-3

When you buy a house or refinance, the mortgage closing costs can add up quickly. Those costs can be even higher if you’re living in an urban area, like Toronto or the GTA. Here are some of the closing fees you might encounter and what they could…

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Accessing Home Equity When Another Person is On Title and Won’t Sign

Accessing Home Equity When Another Person is On Title and Won’t Sign

It’s tough when you have a ton of equity in your home that you can’t use. This happens often when people who have parents or spouses with separate finances on the property title. You don’t necessarily want to share every little bit of your financial business and…

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Why Can’t I Refinance My House in an Undischarged Bankruptcy or in a Consumer Proposal?

Why Can’t I Refinance My House in an Undischarged Bankruptcy or in a Consumer Proposal?

We are frequently asked this question: can I refinance my house after filing for bankruptcy or filing for a consumer proposal? Often, consumers are told by banks and other financial institutions that they can’t borrow money while in an undischarged bankruptcy or in a consumer proposal. But…

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Did You Know That Prudent Offers Second Mortgages?

Did You Know That Prudent Offers Second Mortgages?

A Prudent Mortgage Corp. second mortgage is one of the best deals you’ll find. Borrow up to 80% of your home’s value. We offer reasonable second mortgage rates and interest rates and we always assess you based on your merits. Consumer proposal okay! Bad credit okay! Self-employed…

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Bad Credit Mortgage Financing – How to Choose the Right Lender

Bad Credit Mortgage Financing – How to Choose the Right Lender

Being a homeowner with bruised or bad credit can seem like a catch-22 — you might have equity available in your home that could help you erase your bad debts but accessing that equity through bad credit mortgage financing can seem nearly impossible. All is not lost,…

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Have You Heard About the “It’s NOT a second mortgage loan”?

Have You Heard About the “It’s NOT a second mortgage loan”?

Our Home Equity Loan Can Get You Money Without Expensive Fees There is a lot of money available in your home’s equity, but often accessing it comes with high expenses — appraisal fees, legal fees, and other traditional mortgage closing costs. But what if we told you…

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