Although we have been clawing our way out of a prolonged pandemic, 2020 defied all logic when it came to the developments in the housing sector across Ontario and the country as a whole. In some areas of Ontario, primarily the extremely robust GTA and surrounding areas of Hamilton and Burlington, 2020 and the first quarter of 2021 have seen gains in housing appreciation in the double digits territory.
In May 2021, the price of a single-detached home in the GTA rose by 28.4% as compared to May 2020. This dramatic year-over-year increase puts that average selling price at $1,108,453…
Top Reasons to get an Ontario Second Mortgage
If you need money but aren’t sure which loan product is best, look into second mortgages as they are a cost effective loan type.
Investopedia defines second mortgages as subordinate mortgages made with an initial loan in place. To get these loans the homeowner must have some home equity as they are secured by real estate properties. Home equity can be created from the initial down payment, the appreciation of property’s value and from principal paid down on the mortgage . …
Jonathan Alphonso
Mortgage Agent, Web Developer, and Real Estate Investor. Together with Ronald Alphonso I run MortgageBrokerStore.com. I write about mortgage related topics.
