Why Get A Second Mortgage ?

A second mortgage can be used for various reasons, such as financing home improvements, consolidating debt, or covering payments on unexpected emergencies. The process of obtaining a second mortgage is generally much easier. Lenders are more forgiving in terms of credit worthiness and employment. Generally they are just using the equity in your home to qualify. Give us a call as we are one of the largest second mortgage providers in Ontario.

  • How Does a Second Mortgage Work?

    It’s similar to a first mortgage. The loan is an amount which is paid monthly using a set term agreed upon with the lender. The loan is secured by your home with an interest slightly higher than a first mortgage.

  • How Does a Home Equity Loan Work?

    Home Equity works by taking out a secured amount of funds using your home as collateral. You pay back interest only per month, on the portion of funds you would use. An example : $20,000 line of credit granted, you use $5,000 of the funds, you pay monthly instalments only on the $5,000. Similar to a credit card, but at lower interest.

  • How Do I Apply for a Second Mortgage?

    We will facilitate the entire process for you, we have lenders on standby who can close your transaction that same week. We need some basic information from you and the property to get started.