Need a Second Mortgage?


Funds Available Now for loans up to $1M!  Easy and Fast Approval Process!

Our lenders will simply confirm that you have enough equity in your home and will forgive you even if you don’t have income or good credit. Most of our second mortgages are approved on an equity basis only.

Our clients use Second Mortgage funds for the following:

  •  Debt Consolidation – Paying off high-interest credit cards and loans, while keeping the first mortgage in place. 
  •  Cash Out Home Equity – If refinancing the existing mortgage is not possible or if the penalty is too high, this is the next best alternative. You can access your home equity without even re-negotiating your first mortgage. 
  •  Emergency Reserve Fund – With Covid-19, homeowners are keeping funds aside for emergency in case of job loss or illness. 
  •  Home Renovations – Using the equity in your home to upgrade a kitchen, bathroom, add a new roof or finish that dream basement. Selling a home can be expensive after considering the costs involved to sell and acquire a new home. Now, you can unlock the equity in your home and watch your dream home unfold in front of you. 
  •  Temporary Funding – Maybe you need emergency money to help a family member, pay for unexpected expenses, for your business or pay your Canada Revenue Agency (CRA) bill. Our Second Mortgage lenders will lend you the money you need. 


In most major cities in ON, the maximum Loan-to-Value for ON Second Mortgage financing in today’s market is 75% to 80% of the appraised property value. For example, if the home is worth $100,000 and the existing first mortgage balance is at 60% of the value ($60,000), then the maximum equity that we would be able to access would be $15,000 to $20,000 (75% to 80% of $100,000 – 60% existing mortgage balance = 15% or 20% equity or $15,000 or $20,000).

Private or Second Mortgages make sense when clients do not want to lose their preferred rates on their existing mortgages or if the prepayment penalties for the existing mortgages are too high or if the funds are only needed for a short period or to consolidate bills etc.

Is a Second Mortgage right for you? If you are thinking about getting a Second Mortgage, you will need to have the following information ready:


  •  Estimated current value of the subject property. 
  •  Estimated current mortgage balance, rate, and payment. 
  •  Original purchase price and date of purchase of the subject property. 
  •  Amount of funds required. 
  •  Purpose of funds whether it be debt consolidation, renovation, business start-up etc. 


Once we have the above information, we can quickly determine how much equity you have in your home and how much equity you will be able to access with a Second Mortgage.

Call or Apply Now for a Free No-Obligation Mortgage Consultation or check out what our valued clients are saying about our services in our testimonials section. Join the club!


 A SIDE (Based on qualifying terms)

5 Year -

Variable Rate Prime - .10% = 2.35%

Fixed High Ratio -  2.69%

Fixed Conventional - 2.79%

B SIDE (Bad credit/Low income)

1 Year or 2 Year Fixed - 3.69%

3 Year-3.99%


First Mortgage - 5.49%

Second Mortgage - 6.99%

Third Mortgage - 10.99%

All rates are subject to change without notice. Rates and Terms must meet qualifications for each program.