Second Mortgage – Best Refinance

Second Mortgage

A second mortgage is a secured loan, taken out on an existing mortgaged property. We have over 400+ lenders in Ontario to serve your second mortgage needs. In addition to finding you the lowest rate in writing, we carefully vet each lender to ensure they meet our rigorous standards that put our client's interests first and foremost in the second mortgage process. A second mortgage loan is in fact riskier than the first mortgage, since lenders in this case are in second position on the title of your property.

We will find you the lowest rate!
… And we put it in writing!

In case the homeowner has defaulted on the payments and the property has been possessed, the first to be paid out would be the lender in the foremost position (first mortgage). Hence, the provider of a second mortgage would always run the risk of being compromised in the sense of receiving full re-payment. Due to this reason, second mortgages are also often termed as subordinate in nature. To make up for this risky situation, providers of second mortgages usually charge a higher rate than that of a principal mortgage.

Individuals that have an existing mortgage, with good credit and above 20% equity in their homes, can consider a home equity line of credit as the most affordable second mortgage option (although the rate may be higher than a second mortgage). However, in the case of bad credit or little equity in the property, the homeowner would require borrowing money through a private lender or a trusted company. In any event, Expert Mortgage has the experience and network of lenders that may be able to assist you in any such case.

Why opt for a Second Mortgage?
Multiple reasons could prompt the homeowners to opt for a second mortgage:
  • Debt Consolidation
  • Business Investment
  • Unexpected Expenditure
  • Mortgage Arrears
  • Car Purchase
  • Education
  • Home Renovation
  • Consolidating High Interest Debts
  • Paying Tax
  • Investment in Real Estate
  • Bridging Finance
  • Medical Expense
Expert Mortgage extends a helping hand to homeowners who may be seeking a second mortgage to address any of the above concerns and other not so common expenditures. We stand out as one of the very few brokerages that commits to finding you the best rate and terms – and we put it in writing, when no one else will..

To get more details on Second Mortgages please contact:

Victor Kaushal.
victor@bestrefinance.ca
416-895-6074

What Our Customers Say


Good feedback – as they seem very personable and approachable.

Ontario Properties

I dealt with this company and they were very quick to respond, knowledgeable and straightforward.

Karolina Svec

Straightforward solutions to mortgages & great customer service, thank you!

Mississauga Ontario

Honest and professional.

Lisa Van Der Deen

We are EXPERTS in hard to place mortgages!

Get Approved Call Today 416-895-6074

Apply Now