Second Mortgages in Canada | Better Option Mortgage

Second Mortgage A Second Mortgage is a charge registered against the title of your home in the second position behind your first or existing mortgage.

How a Second Mortgage Can Help You

Often times our Second Mortgages are very easy and simple to qualify for. We will simply confirm that you have enough equity in your home and will forgive you even if you don’t have income, good credit or positive net worth. Most of our second mortgages are approved on an equity basis.

For the most part our clients choose second mortgages for the following reasons

Refinancing Options

If refinancing the existing mortgage is not possible or if the penalty is too high, this is the next best alternative for you. You’ll be able to access your home equity without even re-negotiating your first mortgage.

Home Renovations

Using the equity in your home to upgrade a kitchen, bathroom, add a new roof or finish that dream basement. Selling a home can be expensive after considering the costs involved.

Debt Consolidation

You can start paying off high-interest credit cards and loans, while keeping the first mortgage in place. You can reduce your monthly payments by up to 75%.

Temporary Funding

Has something happened in your life all of a sudden? Maybe you need emergency money to help a family member, pay for unexpected expenses, or pay your CRA bill, or for your business.

Are you ready to apply
for a second mortgage?

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