Second Mortgage

Need a Second Mortgage?

We understand that there are situations when you will need a second mortgage. Our Second Mortgage program allows you to take up to 95%* of the equity out of your home (*ONTARIO ONLY!) regardless if you are Self Employed, have poor credit or are previously Bankrupt.

Second Mortgage

Current Mortgage Second Mortgage
Home Worth $400,000 Home Worth $400,000
Current Interest Rate 3.0% Current Interest Rate 3.0%
Current 1st Mortgage Payment $1,050 Current 1st Mortgage Payment $1,050
$250,000 Mortgage Balance $250,000 Mortgage Balance
$50,000 Mortgage Requested 2nd Mortgage Payment $250
$25,000 Tax Arrears $500/month $25,000 Tax Arrears Paid
$25,000 Credit Cards $750/month $25,000 Credit Cards Paid
Total $2,750/month Total $1,300/month
You Save $1,450/month!!!

 

Our Second Mortgage Rates Start At: 4.99%

Here are some other reasons why you may want a 2nd Mortgage
  • Pay Out Consumer Proposals
  • Pay Off High Interest Debt Without Refinancing
  • Pay Off Property & Income Tax Arrears
  • Pay Off Judgements, Garnishments, and Liens