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.

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 second mortgage, your dreams are powered by an asset you already own.

We specialize in second mortgages for the following reasons:

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!

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.

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