Commercial Mortgage Toronto

Mortgage Services Aurora, ON

Residential & Commercial Mortgages In Aurora, Ontario

Private Mortgages | Mortgage Refinancing | Self-Employed Mortgages

In North of Richmond Hill, you'll find the charming little town of Aurora, Ontario. As an Aurora resident, you have access to ancient shops, fine dining, galleries like the Hillary House, green spaces, and beautiful scenery. Therefore, when you reach our team, we will help you obtain a beautiful property in this area by giving you the best rates in the market. Our team of professional mortgage agents and brokers are passionate about assisting people to acquire their dream home, and leading them through receiving the mortgage they require and educating them on how to build their net worth..

When you contact the MassMortgageGroup.com, our initial meeting will include understanding your requirements. After getting a thorough knowledge of your needs, we will devise a strategy to help you attain your goals. This is your dream; our mortgage agents/brokers will help you invest in yourself and the legacy you want to leave. To secure the best mortgage rates in Aurora, contact our group today!

APPLY FOR A MORTGAGE

Speak Today to one of Our Aurora Mortgage Agents or Brokers at (905) 707-9595

  • 1. WHAT IS THE ADVANTAGE OF WORKING WITH A MORTGAGE AGENT/BROKER?
  • 2. WHAT IS A HOME EQUITY LOAN?
  • 3. WHAT ARE THE ADVANTAGES OF A HOME EQUITY LOAN?
  • 4. WHAT CAN I USE A HOME EQUITY LOAN FOR?
  • 5. HOW DO I CALCULATE THE EQUITY IN MY HOME?
  • 6. WHAT IS A SECOND MORTGAGE?

Experience: All our mortgage brokers are well-versed in every aspect of the mortgage industry. Moreover, our team consists of seniors, with each possessing more than ten years of experience.

Independent: While we represent both borrowers and lenders, we are independent brokers who work for you, and not the bank! This is because our business is primarily built through referrals, which means your satisfaction and your positive mortgage experience is essential for our business.

Efficient service: Our services are quick, friendly, and highly customer-centered. We are committed to serving you even after your transaction is complete. We’re available at all times to answer your questions and work around your schedule, to help you save time and energy.

Excellent connections: We have access to a network of over fifty lenders, which enables us to offer various programs as well as customize each mortgage product to suit your needs. With us, the SKY is your limit, not your bank!

No cost. We get compensated by the lender for arranging mortgages. So, fees are the least concern for the majority of our clients. All our mortgage market updates and annual reviews provided by our agents are also free of cost.

Real estate usually appreciates over time, so the chances are the value of your home has increased since you bought it. By obtaining a Home Equity Loan or Mortgage, you can get access to money based on the increased market value.

You can calculate how much you can borrow with a home equity loan by using the following equation:
PRESENT VALUE OF YOUR HOME – THE AMOUNT OWING ON YOUR MORTGAGE = HOME EQUITY

For example:
If you bought a home 20 years ago for $400,000 and have paid $250,000 of your first mortgage you now only have $150,000 remaining to pay.

Over the twenty years that you have owned the home, its value has increased, giving it a present-day value of $850,000. By taking the present-day value and subtracting the amount remaining on your mortgage, you will get your home’s equity.

$850,000 (PRESENT DAY VALUE) – $150,000 (AMOUNT REMAINING ON INITIAL MORTGAGE) = $700,000

With MASS Mortgage Group’s home equity loan, you can have access to a portion of your home’s equity within ten days.

Capitalizing on a Home Equity Loan has two primary advantages.

  1. Lower interest rate.
    The interest rate you pay on your average home equity loan is lower than the interest rate you will pay on your average credit card by at least eight percent. Home equity loans also have a lower interest rate than personal loans and other types of non-secured debt.
  2. Tax savings.
    If you obtain a home equity loan, you may be able to deduct the interest you pay on the money you borrow. However, it depends on what the money is used for. Also, the interest you pay on credit cards and personal loans is generally not tax-deductible.

You can use a home equity loan for anything you need the money for. Some of the common reasons people apply for a home equity loan are:

  • Home improvements
  • Investment purposes
  • Debt consolidation
  • To buy another piece of property
  • Pay off educational expenses/tuition
  • Start a business or grow an existing business
  • Take a dream vacation
  • Finance medical emergencies
  • For additional cash flow.

You can calculate how much equity exists in your home by using the following equation:
PRESENT VALUE OF YOUR HOME – THE AMOUNT OWING ON YOUR MORTGAGE = HOME EQUITY

To do so correctly, you first need to calculate how much home equity you have by following the formula mentioned above. Once you’ve determined your home’s equity, with MASS Mortgage Group’s home equity loan, you can have access to a portion of your home’s equity within ten days.

The mortgage you obtained to purchase your home is your first mortgage. Any subsequent mortgage or a home equity loan on the same house is considered to be your second mortgage.
Usually, a second or third mortgage is used by clients to consolidate outstanding debt from other sources and finance the following.

  • A home renovation
  • Pay for a child’s education
  • Start or finance a business
  • Any other reason you deem fit.

Before you obtain a second mortgage, you must have a thorough understanding of how it works. To help you better understand how second mortgages work, reach out to the experts at with MASS Mortgage Group. We will help find the best financing solution for you.

Schedule virtual meeting