Thinking about getting a Second or a Third Mortgage?

You’ve carefully thought through every scenario to get the loan you need and it boils down to a second or third mortgage.   Here’s how Alexa Capital Corp. can help.

The Ins and Outs of Second and Third Mortgages

When you first purchased your home, the outcome of your loan application reflected factors like your credit standing, history of property ownership and prior lending trends. Now that you’ve owned your home for a while, you’ve been paying down that first mortgage, your property value may have also gone up, which means; your equity has built up.

Second and third mortgages let you borrow against the equity that you’ve already acquired to gain more spending flexibility.

When Would You Borrow Against Your Equity?

Getting out of Foreclosure

A second or third mortgage may be a smart idea when you’re up against tough situations, such as foreclosure proceedings. Instead of filing for bankruptcy and disrupting your financial standing for years to come, getting a second mortgage might help you stop your debt from getting out of control so that you can recover.

Repairs required to your house

When something major and unexpected happens to your property, new roof or new furnace, or you just simply want to renovate your house in order to sell it.  A second or third mortgage is a quick and easy solution with Alexa Capital.

Consolidation of debts (credit cards, property taxes, CRA)

When your debt keeps piling up with huge interest charges and you can’t keep straight when you have to pay what:  A second or third mortgage can pay off everything, get you a lower interest rate and just one monthly payment.

Medical Expenses

Applying for additional mortgages can also be beneficial when you’re trying to offset unanticipated medical expenses or assist your loved ones. For instance, if you want to help a relative with massive medical bills or down payments, then you might benefit from the extra cash that you gain from another mortgage.

Business & investment Opportunities

Want to make a smart investment? A second or third mortgage could provide you with the necessary capital. For instance, you might use the funds to purchase a rental property or pay for repairs and upgrades to your primary home, which are great ways to build equity.

Use your equity as you choose

Any number of reasons you may need a loan for, Alexa Capital Corp. has you covered.

Why Choose a Private Lender

People have many reasons to choose a private lender to fund their mortgage.  The main reason is they don’t qualify for a second or third mortgage with their bank or first mortgage lender.  Others are looking for quick turnaround time or a short mortgage term because they plan on being able to pay it out after a year or two.  Choosing Alexa Capital Corp. means a lot less hassel.

Put Your Second and Third Mortgage Options to Good Use

Taking out a second or third mortgage can seem tricky, especially if you’re new to this kind of borrowing. Why not make your life easier by chatting with a proven expert? Connect with Alexa Capital Corp. online today.