Second Mortgages
Equity, without the penalty
A second mortgage sits behind your existing first mortgage and lets you borrow against your equity without breaking a low rate you want to keep. We compare institutional and private options and explain the total cost clearly.
- Keep your existing first mortgage
- Fast approvals
- Consolidate debt or fund a project
- Clear fees, disclosed in writing
When a second mortgage beats refinancing
If your first mortgage has a great rate or a large penalty, a second mortgage can be cheaper overall than refinancing, even at a higher rate on the smaller amount.
Home equity lines of credit
A HELOC is a revolving second mortgage: borrow, repay and borrow again up to a set limit. We help you choose between a HELOC and a fixed second mortgage based on how you plan to use the funds.
FAQ
Common questions
How much can I borrow on a second mortgage?
Combined with your first mortgage, typically up to 80 percent of your home's value with institutional lenders.
Is a second mortgage a short-term solution?
Often. Many clients use a one-year second mortgage to consolidate debt, then refinance everything into one mortgage at renewal.
Are there fees?
Private second mortgages carry lender and broker fees. We disclose every fee in writing before you sign.
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