Owning a home is one of the most significant investments a person will make in their lifetime. Not only will your home provide a place to live for your family, but also it is added equity that can be tapped into to meet the homeowner’s additional financial needs. Tapping into this additional equity means taking out a loan against the equity in your home, also known as a second mortgage. Second mortgages give Hamilton homeowners a great amount of financial flexibility.

Second mortgages can be used to help consolidate debt, finance large-scale purchases, fund your child’s education, or simply allow you to have greater financial flexibility. Depending on the original terms of your mortgages, taking out a second mortgage can also help you secure a lower interest rate and save money over the term of your mortgage.

Most homeowners understand that over time, their needs are going to change. Speaking to a mortgage advisor can help you determine whether the terms of your current mortgage are working in your best interest.