Second Mortgages up to 100% LTV

High Ratio Second Mortgages For Refinances or Equity Take-Out Mortgages at Low Rates!

We provide 2nd mortgages for Canadian homeowners up to 100% of home value.

A second mortgage is simply an additional mortgage charge, registered in a second position (behind your first mortgage) against the title of your home in the land registry office. You maintain your present payments to your existing first mortgagee and have a new second payment to a second mortgagee.

If you are obtaining your second mortgage to payout existing credit card balances or loans your credit rating will improve drastically.

You see, second mortgage lenders do not report your activity to credit reporting agencies and since your balances will be nil – your credit score will increase!

The main reason why you would apply for a second mortgage instead of refinancing your existing one is to avoid paying the penalty to discharge your existing first mortgage which can run into several thousands of dollars.

Second mortgages have closing costs, but these are not up front costs and are usually added on top of your requested loan amount and then deducted from the mortgage proceeds on closing.

We can provide 2nd mortgages for all property owners in all different circumstances – from taking out equity for holidays to those in financial difficulties.

The second mortgage process takes about 2 to 3 weeks to complete from the application date to your closing date, but if you are in a hurry – we can get it done in 7 days or less!