Mortgage
Can I Get A Second Mortgage For Down Payment?
Property is a great, but expensive investment, requiring a large down payment to secure. But can you get a second mortgage for down payment?
Jack Richings
26 June 2020
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Property is a great, but expensive investment, requiring a large down payment to secure. But can you get a second mortgage for down payment?
Ever got yourself in a circumstance where you need to replace your current home with a new mortgage? Well, home refinancing is precisely that – getting a new mortgage loan to replace the existing home loan.
Short term loans are convenient and quick ways to get money in a frenzy. You don’t have to worry about a credit check because many
Collecting classic cars is one of the costliest hobbies around and it is a little trick to get a classical car loan. The price tag on such a baby is sure to cause a panic attack in many people. People found ways of getting a classic car loan despite having a normal budget that in certain circumstances would destroy their dreams of being at the wheel of a vintage beast.
If you want to create a retirement spending plan, make sure that your expenses are lower than your income. But, if you have troubles in making ends meet, how will you do it? Good thing debtor refinance can help.
Do you have a steady source of income which covers not only your needs but also your wants as well? If you’re one of the thousands of Australians who want secure finances but are also dealing with financial issues, you may be wondering how you can achieve that reality.
In reality, it only makes sense to get a second mortgage when you don’t have ready access to funds but want to pay for your mortgages and other high-interest debts. It is also a practical and low-cost alternative for those who want to start a business.
If the value of your home, or the amount you paid for it, is higher than your first mortgage or the principal, it means that you have equity in your home. You can tap into your equity by applying for a loan, secured by it.
How do Second Mortgages Work? Many people are familiar with the idea of a first mortgage on a property. The idea is fairly straight forward.
You may have found your dream home but have not yet managed to sell your existing property. Without the proceeds from the sale of your
Australian Lending Centre is the country’s largest provider of alternative loan products, debt consolidation services and refinancing for over 30 years.
We’re not like your average bank. We don’t have extensive queues that make you wait weeks for funding and we don’t discriminate based on credit history.
Our team understands that not everybody is struggling, some people just need a better loan term with the highest quality of service and transparency.
Whatever your situation, you are bound to have questions about our process, products and services, which we've compiled together for you.
For 25 years Australian Lending Centre has been offering Australians a financial relationship with access to the latest financial products and services. Our highly trained, specialist lending consultants are here to help you get on track financially. With our wide range of loan products, Australian Lending Centre strives to make a long-term commitment with each customer we work with. ALC is a one-stop-specialist for bad credit loans, business loans, refinancing and debt consolidation into one easy repayment, Australia wide. For bank-alternative finance assistance required, get in touch, we aim to help every customer get the most suitable loan product for their needs!
