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Why get a

Second Mortgage in Canada?

Getting a second mortgage from us, can help you save interest on your outstanding debt - while also providing you a good alternative to breaking your existing first mortgage and paying a hefty penalty.

Pros

  • Consolidate higher interest debts into a single lower interest payment.
  • Disposable income on hand (home renovation, tuition, medical fees)
  • Financial management
  • Creating a home equity line of credit
  • Avoiding private mortgage insurance
  • Tax deductible interest
  • More lenders available

Cons

  • Lower security rank order
  • Higher interest rates

We work with you, and the lenders, to ensure that when you are up for renewal, you can consolidate your loan into a lower interest rate. A second mortgage is a short term solution that will help you have more cash-flow monthly.

You may also like:

WHAT IS A SECOND MORTGAGE?
HOW IS A 2nd MORTGAGE DIFFERENT THAN A 1ST MORTGAGE?
DIFFERENCE BETWEEN SECOND MORTGAGE AND HOME EQUITY LINE OF CREDIT
THE BASICS OF DEBT CONSOLIDATION