Your Local Newmarket Mortgage Broker
Second Mortgages & Home Equity Loans for Newmarket Homeowners
If you already own a home, but are in need of an influx of cash, then you may want to consider a second mortgage, or a home equity loan. Lenders in Ontario will allow you to take out as much as 95% of the equity that you have accumulated in your home as cash in the form of a second mortgage or home equity loan. Individuals take out a second mortgage on their home to pay for things such as:
- Consumer debt
- Property tax
- Income tax arrears
- Consumer proposals
- Judgements or liens
If you are looking for a second mortgage, the professionals at Matrix Mortgage can get you approved quickly, and with little hassle.
Mortgages for First Time Home Buyers in Newmarket
As a first time homebuyer, you may not be able to get the best rates possible on your own. After all, you may not have a long credit history, or be established for long in your career. You may also not know how to negotiate for such a large purchase. And while you may be able to get a mortgage, your rates or the amount that you are approved for may not be what you were hoping for.
This is where a mortgage broker can come in handy. A mortgage broker has years of experience working directly with lenders in order to find and secure mortgages for clients who are in a wide variety of situations. As a result of this, they know what lenders are looking for, and what you might be able to do or provide in order to get a better rate. They may also have access to better rates, as they are bringing their lender a large amount of business (think of it like a volume discount). If you are looking for your first home in Newmarket, a mortgage broker with Matrix Mortgage can ensure that you get the best rate possible on the mortgage for your first home.
Mortgages & the Real Estate Market for Newmarket, Ontario
Located to the north of the city of Toronto, Newmarket Ontario was once a small town that has seen exponential growth, particularly in the last decade. In 2011, the population was just under 80,000. While Newmarket may be smaller than other municipalities in the GTA, it is consistently recognized as a great place to live: it was named 10th in a list of 200 cities by MoneySense magazine in 2013, and 4th on the list of small cities in their “Canada’s Best Places to Live in 2013” issue.
Whether you work in the downtown core, or on the outskirts of Toronto proper, Newmarket is a quick ride up the 404. It is home to the Upper Canada Mall, and Southlake Regional Health Centre. As Newmarket continues to grow, the price of homes in the area has continued to rise at a steady rate. The average price of a detached home in Newmarket as of September 2015 was $734,830, This is lower than many other municipalities in York region, which adds to the allure of Newmarket.
If you are looking for a home in Newmarket, there are several great reasons to consider working with a mortgage broker. A big one is that they will do all the legwork. This saves you time and hassle on finding the right mortgage for you.