Second Mortgages

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.

What do I need to qualify for a second mortgage?

Credit score

The better the credit score, the better the second mortgage rates. Higher credit scores suggest lower risk to lenders; it literally pays to be responsible with your spending.

Value of property

One of the most important factors in determining your second mortgage rate is the value of your property; this is important to lenders in the event you default on payments.


A dependable, consistent source of income gives lenders an extra boost of confidence that you’re a trustworthy borrower.