Brampton Mortgage Broker – Rumy Gill

Commercial & Residential Mortgages. “Ready To Fund!”

Brampton Mortgage Broker - Rumy Gill

Rental Property Mortgage

Rental Property Mortgage can Help you obtain a Rental Property

Rumy Gill - Mortgage Broker

Rental Property Mortgage: Let your Tenants pay the Mortgage while you Build Equity through your Rental Investment Asset.

Whether you are looking to Purchase or Refinance 1 Rental Property or More than 5 Rental Properties, you will face challenges in your Rental Property Mortgage Approval. Let a 5 Star Mortgage Broker, Rumy Gill, help navigate you through the process of getting your Rental Property Mortgage Approved. Clients Trust Rumy Gill to Help find them the Best Mortgage when it comes to a your Mortgage Refinance, and you should too!

Rental Property Mortgage Approvals for all Situation::

Our Goal is to Help Approve your Rental Property Mortgage Situation, and that means We'll find a Way to get your Rental Property Mortgage Approved!

Expand your investment Portfolio, Real Estate is a Great Investment! It has proven the test of time and is the most popular choice of asset to acquire for anyone who is looking to build wealth. It is no secret that Most Billionaires have acquired their wealth through Real Estate, and now you can too.
Why not have someone else pay the Mortgage and cost involved in owning a property while you can enjoy the benefits of Built up Equity and Rental Surplus.
Here Top 5 Reasons why getting a Rental Property Mortgage makes a lot of sense!

Looking for a Mortgage Refinance?

Speak to mortgage broker about the most affordable option given your credit score income and property

How Can I Refinance my Rental Property?

Unlike the Banks where there are a lot of challenges to overcome with your Rental Property Mortgage before you can be Approved, it is in your Best Interest to work with an Expert who can guide you through Rental Property Mortgage Refinancing process.
Here are some of the Areas, which Banks look at when you are Refinancing your Rental Property Mortgage:
If you feel you are not able to overcome any of these areas when it comes to Refinancing your Rental Property Mortgage, you don’t have to stress. Brampton Mortgage Broker – Rumy Gill works with multiple Mortgage Lenders who are able to Help Approve your Rental Property Mortgage. So that means you are able to Refinance as many Rental Property Mortgages as you like, even if you have 10 Properties or More, we can Help get you Approved.

Mortgage Refinance Payments Can Save you Money and Free Up Cash Flow!

Consolidate Debt! Pay off High-Interest Debt! Increase your Credit Score Rating!
The example shows how we were able to help a Client in Brampton with a Mortgage Refinance to Pay off a Second Mortgage and Credit Card Debts saving Our Client $1,265/month
Before
First Mortgage Amount: $200,000
Mortgage Interest Rate: 4.99%
Mortgage Payment: $1,165 monthly
Second Mortgage Amount 150,000
Second Mortgage Interest: 12%
Second Mortgage Payment: 1,500
Credit Card Debts: $50,000 ($450 Monthly)
Total Debt $400,000
Total Monthly Payments $3,165
Monthly Savings $0 (Client further in Debt)
Before
First Mortgage Amount: $200,000
Mortgage Interest Rate: 4.99%
Mortgage Payment: $1,165 monthly
Second Mortgage Amount 150,000
Second Mortgage Interest: 12%
Second Mortgage Payment: 1,500
Credit Card Debts: $50,000 ($450 Monthly)
Total Debt $400,000
Total Monthly Payments $3,165
Monthly Savings $0 (Client further in Debt)

We Provide Rental Property Mortgage Approvals for the following Properties whether you are Purchasing or Refinancing;

When it comes to your Rental Property Mortgage situations clients trust us to get their Mortgage Approved and you should too!

CONTACT US TODAY TO GET YOUR MORTGAGE APPROVED.

We are always here to Help, Your local and trusted second mortgage Brampton team! Looking for a mortgage refinance, or a bad credit mortgage in Brampton? Contact us on 416-855-0545 Ext 101. We can help with your private and commercial mortgages in Brampton.

Frequently Asked Questions

A Second Mortgage is a loan secured by your home where you leverage your home equity to get cash for your needs. Home Equity is the difference between the value of a home and what is still owed on the mortgage. For example, if the market value of your home is $300,000 and you owe $200,000 on the mortgage, you have $100,000 in home equity. Second Mortgages typically have a fixed interest rate, fixed monthly payment and fixed term.
A Second charge Mortgage allows you to use any equity you have in your home as security against another loan. It means you will have two mortgages on your home. Equity is the percentage of your property owned outright by you, which is the value of the home minus any mortgage owed on it.
For people struggling with Consumer Debt, taking out a Second Mortgage to pay off Credit Cards can mean lower payments at a lesser interest rate. Resulting in huge savings each month. These savings can be applied to pay down your first mortgage in lump sum payments or in extra monthly payments (which can be applied directly to the principal amount, as long as your current mortgage allows for it) and other debts so you can become debt free faster.
From Start to Finish, getting a Second Mortgage can take as little as a few days to few weeks. Typically it can take anywhere from a few hours to a few days to get Approved for a Second Mortgage. To recieve Cash (funds) an take anywhere from a few days if everything is in order and ready to close, or it can take up to a few weeks, if you just starting to get everything in places like ordering an appriasal and gathering documents. In order to qualify for a Second Mortgage, most lenders will require your loan-to-value ratio be 85 percent or lower. So long as you reach that goal, it doesn't matter whether you've owned your home for five years or five minutes.
You can get a Second Mortgage even with bad credit as long as you have a loan-to-value ratio be 85 percent or lower. This is because you're using your home to guarantee the loan. Lenders like having property as collateral as it security if you were to default on the Second Mortgage but do not like to be in situations where the borrow is in default with payments. To eliminate any doubt in the lenders mind and get Approved, you will need to show some type of proof that you can support the payments and be able to repay back the Second Mortgage amount you are looking to borrow at the end of the term.