Commercial second mortgages have historically been a very rare financing tool reserved for extremely strong borrowers, divided into two general segments.1. Owner occupant property owners with outstanding business finances. 2. Large sophisticated commercial real estate developments with minimum loan amounts beginning at $5 million. Typical project size would be $15 million plus.Both of these types [...]
Posts Tagged ‘Second Mortgages’
Commercial Second Mortgages – A Way to Unlock Equity
Posted by admin on December 7th, 2009
Posted in Article 
Tags: Amortization Schedules, Business Finances, Closing Cost, Commercial Real Estate, Commercial Real Estate Investors, Credit Scores, Estate Developments, First Position, Illiquidity, Loan Amounts, Loan Proceeds, Loan Structure, Minimum Loan, National Lenders, Owner Occupant, Position Loan, Real Estate Investors, Second Mortgage, Second Mortgages, Typical Project 
No Comments »Second Mortgage Loans in Canada – How I Qualified and Saved My Credit
Posted by admin on December 5th, 2009
The use of second mortgages by clients is more common then one would think. The common issue amongst my clients is what would the lender think and how would I qualify.Income qualification is secondary to the LTV (Loan to Value) calculation on the property. The impact of the LTV is discussed in a future article [...]
Posted in Article Tags: Bad Luck, Borrowers, Income Qualification, Income Sources, Level Of Detail, Loans In Canada, Ltv, Minimal Requirements, Mortgage Canada, Mortgage Lenders, Mortgage Loan, Mortgage Payment, Personal Budgets, Private Lender, Private Lenders, Second Mortgage Loans, Second Mortgages, Social Services, Tax Man, What The Heck No Comments »Why Second Mortgage Rates Are Higher for Home Equity Loans than 1st Mortgages
Posted by admin on November 22nd, 2009
Home equity is the difference between what you owe on your mortgage and the fair market value of your home. Cashing out on home equity for debt consolidation is continuing to gain popularity. The typical way to cash out on home equity is to either refinance an existing first mortgage or take out a second [...]
Posted in Article Tags: Amount Of Money, Annual Percentage Rate, Attractive Interest Rates, Best Bet, Debt Consolidation, First Mortgage, Helocs, Home Equity Lines, Home Equity Lines Of Credit, Home Equity Loan, Home Equity Loans, Installment Loan, Mid 1980s, Mortgage Loans, Personal Debt, Property Values, Risk Lenders, Second Mortgage Rates, Second Mortgages, Tax Deductibility No Comments »