Mortgage Brokers Second Mortgage in Toronto - Why And How | Página 3

SECOND MORTGAGE IN TORONTO:
CRUCIAL FACTORS TO CONSIDER
• Hire a mortgage broker
• It is highly recommended that instead of working on your second
mortgage in Toronto yourself, hire someone to do the legwork for
you. The job is not easy and hiring someone to perform all the
daunting task for you is highly encouraged.
• Ask yourself, “Do I really need it?”
• Do not rush applying for a second mortgage in Toronto unless you
are sure you really need one. First, this may change the interest of
your existing mortgage to a higher rate, and second, this will
extend the life of your loan.
• Know its advantages and disadvantages
• Just like any loans, the second mortgage in Toronto has its own
advantages and disadvantages, and for someone who is
planning to pursue it, he or she should know and consider not just
the advantages but its disadvantages as well.