New Construction and Renovations
Are you thinking for building a new home? Or are staying where you are and thinking of renovating your home.
Bona Fide Appraisals can provide accurate valuations of future construction or renovations of your home. Every property is different and understanding the contributory value of improvements to your home are important to keep your financial investment secure. Not all renovations are weighted the same – certain improvements as finished basements, additional bathrooms, or renovated kitchens, will increase your home’s value by a wider margin than a wet bar or changing the front façade of you home. Let us provide you the after renovation or new construction valuation of your real estate project.
Line of Credit
Second mortgages are typically taken as secured home equity loans from financial institutions. These mortgages are considered riskier loans for financial institutions these mortgages usually have a higher interest rates than first mortgages. However, in some cases, when a borrower has a long term fixed rate mortgage, the actual rate on the second mortgage or secured line of credit, commonly referred to as a Home Equity Line of Credit (HELOC) actually has a lower rate than the first closed mortgage.
The opposite usually exists with private mortgage lenders. Bonafide has been appraising property for Banks, Trust Companies, Private lenders and Mortgage brokers and provides timely and conforming reports for the lender community.
Bona Fide Appraisals Inc., serving the Greater Toronto Area: Burlington, Waterdown, Oakville, Milton, Mississauga, Brampton, Toronto, Richmond Hill, Aurora, Vaughn, Pickering, Oshawa, Hamilton and more.