Given economic and financial realities these days, Banks can be hesitant to provide second mortgages or additional debt to self employed people. For years, Tembo has provided second mortgages to self employed clients who need access to their home equity ASAP. Many of these clients need loans for a deposit for the purchase of a new home, to do home renovations or even pay debts from their business. Tembo has helped hundreds of clients receive equity advances through private second mortgages within 48 hours for years. The process is fast and simple and is a great tool if you need your money quickly and cannot access funds through a bank.
Another benefit of a private second mortgage is that it can massively boost your home value if the funds are used for home renovations. Tembo has helped many clients accommodate renovations that have helped them net thousands more on the sale of their properties. This is an incredible tool in a housing market that has never been so short of supply and with such high demand for beautiful homes. Realtors and market experts are consistent in outlining that a remodeled kitchen and finished basement can add tens of thousands of dollars to the value of a home. Don’t lose out on the added equity Tembo can unlock for you in as little as two days*!
Self-employment has been rising steadily in Canada since 2008, with 2.5 million self-employed Canadians then and almost 3 million recorded by Statscan just before the pandemic hit. Getting additional debt or a mortgage as a self employed Canadian can be complicated. Some banks require the purchase of default insurance ahead of any possible approval of a mortgage worth over 65-90% of equity. They can also require extensive documentation of at least two years of accounts and bank activity for self-employed people. If you’re self-employed and are in need of a deposit advance, equity advance, or financial solutions through a private second mortgage, please visit www.tembofinancial.com and give us a call at 1-844-238-6717!
*Subject to qualification