We are happy to say our re-financing has been completed.
Chris and I wanted to thank you very much for all your wonderful help with this. Your help, advice, professionalism and thoroughness were incredible. This was from the first time we spoke to you, right up until the end. At no time through out the process did we at all feel anxious as you advised us what to expect and when to expect it. It was and is very much appreciated.
Jesse, we cannot thank you enough and please know that we would not hesitate to recommend you and your wonderful service to anyone.
Thanks again for everything,
Kind Regards
Remortgage No Income Proof in Aurora, ON: How Remortgages Can Help You
If you are a homeowner in Aurora, Ontario, and need cash but don't have income proof, a remortgage or remortgage might be the solution you're looking for. With this type of loan, you can borrow against the equity in your home, and it doesn't require you to prove your income.
Our mortgage firm specializes in helping homeowners like you to access the cash they need through remortgages. In this article, we will explain what remortgages are, how they work, and how you can apply for one in Aurora, ON.
What is a Remortgage?
A remortgage, also known as a second mortgage or a remortgage, is a loan that you take out using the equity in your home as collateral. Equity is the difference between the value of your home and the amount you owe on your mortgage.
For example, if your home is worth $500,000, and you owe $300,000 on your mortgage, you have $200,000 in equity. You can borrow against that equity with a remortgage.
How Does a Remortgage Work?
A remortgage works like a regular mortgage. You apply for the loan, and if you're approved, you receive a lump sum of cash. You then repay the loan over time, usually with fixed monthly payments.
The amount you can borrow with a remortgage depends on the amount of equity you have in your home, as well as other factors such as your credit score and income. In general, you can borrow up to 80% of your home's value, minus the amount you owe on your mortgage.
For example, if your home is worth $500,000, and you owe $300,000 on your mortgage, you could potentially borrow up to $100,000 ($500,000 x 80% - $300,000) with a remortgage.
What are the Benefits of a Remortgage?
One of the main benefits of a remortgage is that it allows you to access the cash you need without having to sell your home. It can also be a more affordable option than other types of loans, as remortgages typically have lower interest rates than credit cards or personal loans.
In addition, remortgages can be a good option if you have bad credit or no income proof. Because the loan is secured by your home, lenders are more willing to approve borrowers who may not qualify for other types of loans.
How to Apply for a Remortgage in Aurora, ON
To apply for a remortgage in Aurora, ON, you'll need to follow these steps:
Remortgaging your home with no income proof can be a daunting process, but using a mortgage agent in Aurora can provide several benefits. Here are some benefits of using a mortgage agent when remortgaging your home: