Hi REIN team,
I’m refinancing my property and deciding whether to take the additional equity credit as a 2nd mortgage with the lender (Scotia). I plan to purchase an additional property this year and wondering if having two mortgages with the same lender will hinder my ability to qualify for the next mortgage?
The other choice is a new mortgage including the additional credit. In this case, I’d have the single mortgage, but the rate offered is 30 basis points higher.
Any feedback would be much appreciated! Thanks
I’m refinancing my property and deciding whether to take the additional equity credit as a 2nd mortgage with the lender (Scotia). I plan to purchase an additional property this year and wondering if having two mortgages with the same lender will hinder my ability to qualify for the next mortgage?
The other choice is a new mortgage including the additional credit. In this case, I’d have the single mortgage, but the rate offered is 30 basis points higher.
Any feedback would be much appreciated! Thanks