Second Mortgage
Alberta
Get a Second Mortgage in Alberta
If your property is currently or previously was mortgaged, it likely has equity stored in it. This equity is an asset that can be tapped into and used to fund your needs. With a second mortgage in Alberta, you can:
- Consolidate debt
- Renovate, construct or improve a property
- Pay off large expenses
- Purchase a second home or investment property
- Combat life situations such as divorce
- Overcome other financial hurdles
For certain cases, banks and other large lending institutions will refuse to place a second mortgage on your house or will offer unreasonable rates. This can be due to low credit scores, high debts, or inadequate income.
If you have faced declined applications with the banks, consider opting for a private Alberta second mortgage. Borrowers get several benefits with a private second mortgage in Alberta, some of them being:
- Fast application process
- Lenient requirements
- Higher loan amounts
- Adjustable loan terms
- Reasonable monthly repayment
- Quicker access to funds
- A vast variety of mortgage solutions
Looking for a custom-tailored solution catered to your needs? Reach out today and let Freedom Capital assist you in your financial journey.
Client Testimonials
Looking for Private Second Mortgage Lenders in Alberta?
- Do you need immediate access to funds?
- Are you facing a life situation?
- Was your application rejected by the banks?
- Not finding the right mortgage solution?
- Typical lending institutions taking too long?
- Are your needs not being satisfied by the lenders you’re working with?
- Unsure of which private lender to approach for the best possible deal?
Being uncertain about which lender to approach is a common issue amongst Canadian borrowers. With so many lenders to choose from, it can be hard to pick the best choice for you and your needs.
At Freedom Capital, we provide custom solutions for every borrower. Our team of expert professionals work hard to provide the best possible solution and speedy approvals for every client.
With a unique array of lenders, reasonable requirements, several mortgage options, and as little as 24 hours* approval time, Freedom Capital can provide you with the Alberta second mortgage you need.
FAQ
How much down payment do you need for a second mortgage in Alberta?
Borrowers in Alberta are required to pay a 20% down payment for a second mortgage loan. This can vary according to the amount you borrow and the lender you approach.
What credit score do I need for an Alberta second mortgage?
At Freedom Capital, we require a minimum credit score of 620 for a borrower to qualify for a second mortgage.
Is it a good idea to take out a second mortgage in Alberta?
If you have any financial needs and are capable of funding a second mortgage, then yes, it is a good idea to take out an Alberta second mortgage. However, if you cannot handle taking out a mortgage, then you should consider not getting one.
