What is an additional mortgage and is it right for me?

As the equity in your home builds, so does the opportunity for you to leverage that equity by taking out a second or third mortgage on your property.

Second or third mortgages can be used to consolidate outstanding debt from other sources, renovate your home, pay for your child's education, or any number of choices. In most cases, the rate of interest on an additional mortgage can be lower than borrowing on a credit card, potentially saving you a lot of money in the long run. What's more, a second or third mortgage may provide you with more time to repay the loan, giving you added flexibility.

If you're considering taking out an additional mortgage on your home, we encourage you to speak with a Mortgage Centre specialist who will discuss your unique financing needs. After researching your options, we'll provide you with the information you need to make a sound decision.

Broker Advantage

Whether you are first-time buyer or an experienced buyer with excellent credit, The Mortgage Centre has access to the very best products and rates available across Canada. Give us a call… we think you’ll be pleasantly surprised!

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Why Us?

Through training and certification, we have a good understanding of available products, features, and rates. We are here to keep your mortgage moving forward with our Mortgage Market technology, we have electronic access to various major lenders in Canada, so you’re not tied to one lender or one type of mortgage.

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Useful Tools

We understand that mortgages can be confusing and intimidating. To help demystify the process, The Mortgage Centre provides a glossary and a variety of free calculators to assist you in researching, and planning your mortgage.

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