Milton Private Second Mortgage
“Milton Private Second Mortgage Financing Can Be Arranged Quickly On Qualifying Properties”
Milton private second mortgage financing is available through our private money lending sources on a wide range of commercial and residential properties.
The key for getting a private 2nd mortgage approved and funded is going to be solid equity in the real estate property offered as security.
Our private lenders are interested in solid real estate mortgage investment opportunities and typically provide one year terms for Milton private second mortgages.
In order to apply for a private second in Milton, you will need to complete a basic application form and list out your personal net worth and outstanding debt obligations.
And even though your personal credit may not factor into the lending decision, a private lender may still want to review your credit profile to get a better sense of who he or she may be dealing with.
A real estate appraisal recently completed is also going to be required.
For commercial properties, some of our private lenders will consider relying on an existing commercial appraisal that is one or two years old, if they believe it is still representative of the market. This not only is a cost saving to the applicant as commercial appraisals can be quite expensive, but also a time saving in that commercial appraisals can take more than a month to complete.
For residential properties, and a current appraisal is going to be required and typically can be completed in a just a few days.
For fast closing requests, a Milton private second mortgage can be put into place in two to five business days providing everything is in order and you have a lawyer at your disposal who can enroll in the process on short notice.
Most Milton private second mortgages take ten to fifteen days to get in place from the time of application to the day of mortgage funding.
Funds are available for a wide variety of uses including debt consolidation, mortgage refinancing, and construction financing.
The loan to value ratio typically provided is in the 75% to 85% range.
If you require a Milton private second mortgage, I suggest that you give me a call so I can quickly assess your situation and provide private 2nd mortgage financing options for your immediate consideration.
About the Author Joe Walsh
I'm a Toronto Mortgage Broker that arranges mortgage solutions on residential and commercial real estate property. With over 30 years of mortgage financing experience, I'm able to quickly assess your financing requirements and provide relevant solutions for your immediate consideration. Joe Walsh Google+ YouTube Channel