Payment required third property. Should I refinance my first mortgage or obtain second mortgages on the first house?
I have about $ 45,000 in equity in my first property. Approximately $ 30,000 in bad service. I live in Ontario, Canada.
I am a mortgage broker in Edmonton, Alberta. It's a bit difficult without question anwser your details. You say you want a deposit for a property of others. That's what I want to know in general: 1) What loan / value you have in your properties? Two) What is your credit? 3) Is the bad credit cards Debt / store cards? 4) Are you verifiable income? 5) How payment of advance that you are looking for? 6) What is the property of new sources of revenue? I could go on, but you can see it is not so simple. One thing is that there is a threshold of income reported credit available up to 80% LTV, 1% minimum payment on your balance. This can be recorded as a second but not the interest rate for one second.
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