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Second mortgage rates

Whether you’re making an investment or buying a vacation property, a second mortgage can get you there. CMI has some of the best rates in the industry. Second mortgages are no longer very expensive, or necessarily a last resort.

We offer second mortgage rates that vary depending on your income and credit, as well as overall home equity. The better your overall situation, the more attractive the financing options that we can provide to you.

Whether you’re looking to complete home renovations, consolidate debt, send the kids off to college, or set up a vacation retreat for your family, a second mortgage can help turn those dreams into realities.

Schedule a FREE consultation using the form below, and let us show you what we can do for you.

Choose a mortgage option

CMI cuts through the clutter of one-size-fits-all mortgage terms, to offer you a second mortgage that's tailored for your needs. We can select the right terms for you — including a variety of different mortgage lengths, and options like interest-only mortgages or bridge loans with no pre-payment penalties. We can even set you up with a revolving home equity line of credit, if you have good credit and live in an urban area.

Quickly get your funding!

You’ll have funds in your bank account in no time, so you can pay off that debt, launch that project, and make your dreams happen. While other lenders are pushing papers back and forth, we're making deals and printing cheques. From fast decisions to fast funds, CMI gives you the fastest turnaround in the mortgage business.

Benefits of a second mortgage

A second mortgage can help you get rid of high-interest debt and improve your credit score. But second mortgages are also widely used to help with a whole range of other financial needs. The possibilities are unlimited — and with a mortgage second position, your dreams are powered by an asset you already own.

We specialize in second mortgages for the following reasons:

  • Home Renovation and Construction
  • Working capital for your business
  • Debt Consolidation and Credit Repair
  • Short term / bridge financing
  • Collections, judgements, and personal debts
  • …and more!
  • Property, personal tax, or mortgage arrears

We work with hundreds of private mortgage lenders across Canada, ensuring that regardless of income or credit, provided that you have equity in your property, we can help with your mortgage second position!

We also work with institutional lenders who can offer attractive rates on second mortgages for you, if you have strong credit and a good income.

What Is a Second Mortgage?

A second mortgage is a secured loan that sits behind your existing mortgage — which means your first mortgage will be left untouched — but lets you extract equity from your property. At CMI, we can help you borrow a second mortgage on residential as well as commercial properties.

If you’ve got some equity built up in your property, then we can help you tap in to your existing dormant equity, whether your credit is excellent or blemished.