Mississauga Feb 18 – GTA Mortgage Centre is ready to work with their clients, should they require a 3rd mortgage to consolidate debt, to travel, or simply have extra cash available. GTA Mortgage Centre is probably the only brokerage you can contact in the GTA for a 3rd Mortgage.

A lot of private investors have moved to the sidelines, but GTA Mortgage Centre still has access to a lot of capital ready to go to work for you. Contact us today to talk about a 3rd Mortgage. The property has to be located in Mississauga, Brampton, Oakville, or Toronto. If you have a residential property in Milton, Burlington, or Hamilton, please contact us with the details of your property, and we will see if our investors can make an exception. It would depend on your property.

Simply fill out our online application today, and let’s get the process started. You can deal with GTA Mortgage Centre with confidence knowing that you’d pay the some of the lowest rates and fees in the industry.

What is 3rd Mortgage

A 3rd mortgage refers to a loan taken out on a property that already has two existing mortgages. It is a type of secured loan that allows the borrower to access the equity in their home.

In the hierarchy of mortgage priorities, the 3rd mortgage is the third lien holder on the property. This means that in the event of default, the first mortgage holder will be paid first, followed by the second mortgage holder, and then the third mortgage holder. Because of this added risk, 3rd mortgages typically have higher interest rates compared to first and second mortgages.

3rd mortgages are not very common as they are generally considered to be riskier investments for lenders. They may be sought by homeowners who need to access additional funds but have already reached the maximum amount they can borrow through their first and second mortgages. However, it is important to carefully consider the risks and benefits before taking out a 3rd mortgage, as defaulting on the loan could result in foreclosure and the loss of the property.