2nd Mortgages, Second Mortgage Lenders Toronto, Canada | Mortgage Solution Providers Toronto

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.

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.

We will find you the lowest rate!

… And we put it in writing!

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:

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:


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Call Us at 416-895-6074

Our Latest Rates

Note: Rates are subject to change without notice.
Prime Rate3.95%
1 Year3.04%
2 Year3.29%
3 Year3.19%
4 Year3.49%
5 Year3.33%
5 Year Variable3.05%
5 Year High Ratio2.71%

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We were 6 months behind on our mortgage and the sheriff was coming in 5 days to lock us out of our home. Every other mortgage broker said NO! I can ’t believe you were able to get us a second mortgage that fast. You saved our home and I will refer everyone I know to you.

My ex—wife’s lawyer gave me 30 days to buyout her half of our house or have it put up for sale. I had no job and I was in bankruptcy. My bank manager laughed at me. I thought it was hopeless until I saw your flyer. I don ’t know how you qualified me for the mortgage. You’re a miracle worker. Thank you.

I m self—employed with bad credit related to a past business failure. My new venture was going great and I wanted to buy a home, but the bank would not qualify me for a mortgage. I didn ’t know about private lenders until I saw your flyer. Thanks for fulfilling my dream of being a homeowner.

Earning only pension income I couldn ’t keep up with my payments. The bank said that due to my age they could not give me a loan. Paying off all my debt and giving me one low monthly payment helped me save my home of 35 years. I am very much indebted to you.

The bank would not lend money on our farm unless we showed them financial statements. Since my husband passed away, my son and I were struggling to keep the farm afloat. We just needed more time. The third mortgage you got us was the miracle we needed. You believed in us and we are so grateful. Thank you.

We are EXPERTS in hard to place mortgages! Get Approved. Call Today 416-895-6074