Taking a second mortgage is exactly what it sounds like: it’s another mortgage you take out on a home you’re already making mortgage payments towards. People take out second mortgages for a variety of reasons: unexpected expenses that need to be paid immediately, home improvements and renovations, to pay off high-interest debt, and, most commonly, to fund the full purchase of an additional property.
We’re here to help you leverage your home equity to fund your dream project. We have an established network of private and institutional lenders that we’ve maintained strong, long-term relationships with. This has helped our Canadian mortgage brokers secure second mortgage rates in Canada that are much more favourable than what you’d get from your local bank. If you’re thinking about taking out a second mortgage, contact us
today to learn more.