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Second Mortgages

A second mortgage is an additional mortgage that is placed on a property with an existing first mortgage. Second mortgages, also called 2nd mortgages, are considered riskier than first mortgages since if the property goes into default, the first mortgage holder must be paid first. Due to the increased risk, interest rates for second mortgages are typically more than those for first mortgages.

If you own at least 20% of the equity in your home, you may be approved for a second mortgage in Ontario. A second mortgage can provide money to renovate your home or even make capital available for your business. With a second mortgage, you can make your dreams come true by using an asset you already own.

We have many private mortgage lenders across Canada who have helped our clients receive second mortgages regardless of income or credit, on the basis of equity in their property. Call us to get the lowest second mortgage int