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Ontario Mortgage Professional reveals what you need to know

4 Views· 18 Jan 2022
Tom Gasparec The Mortgage Centre
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⁣⁣⁣Ok, today we are going to review everything you need to know about second mortgages… What is a second mortgage? A second mortgage is an additional loan taken out on a property that’s already mortgaged. Second mortgages are riskier for lenders than first mortgages because they’re in second position on your property's title. As a result, the interest rate on second mortgages is higher. Here’s what you need to know about second mortgages… ⁣⁣If you're looking for a top-notch mortgage professional in Toronto, call us at (866) 492-4024.

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