A home equity loan vs a Reverse Mortgage in Canada

By admin | November 16, 2020

As a home owner, you probably know already that your home is a valuable asset.  When you find yourself short of money, it proves an almost guaranteed way to get a yes from the majority of lenders.  Non-bank lenders especially are very keen on lending money to home owners. 

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Can a Second Mortgage be beneficial in the GTA?

By admin | September 10, 2020
Borrow-using-your-home-Prudent-Mortgage

A Home Equity Loan (also known as Second Mortgage) is essentially another loan separate from your original mortgage with a lien on property in second position. A lien is the right to possess and seize property under circumstances explained in your mortgage documents.

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Preparing to Refinance/Renew Your Mortgage at a Higher Interest Rate

By admin | August 7, 2019

Are you planning to renew your mortgage soon? If so, you could be in for sticker shock. Economists estimate about 24.1% of mortgages will renew in 2020, and 26.8% in 2021. Since 2017, we have seen interest rates rise significantly, going from 0.5% to 1.75%. If you last renewed your mortgage between 2014 to 2016,…

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Did You Know That Prudent Offers Second Mortgages?

By admin | September 12, 2018

A Prudent Mortgage Corp. second mortgage is one of the best deals you’ll find. Borrow up to 80% of your home’s value. We offer reasonable second mortgage rates and interest rates and we always assess you based on your merits. Consumer proposal okay! Bad credit okay! Self-employed okay! Our second mortgages are approved based on…

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