For Borrowers

A second mortgage is a secured loan that lets you borrow against the value of your home. It’s also known as a ‘secured line of credit’ by the banks. To get one here in Ontario, you need to work with your bank or a certified mortgage broker — it’s the law.

We are not a mortgage broker. We don’t work with borrowers like yourself to find a bank or lender that will give you a secured loan or line of credit.

We are a private lender that specializes in second mortgages. Brokers contact us when looking for money to finance a second mortgage for borrowers like you.

As a lender with integrity, we think it’s important to be candid — to be open and honest about some of the challenges involved with getting a second mortgage and about our industry.

  • Getting a second mortgage carries more risk than getting a first mortgage

    Some brokers and lenders take advantage of borrowers by crafting deals that might not be in your best interests. The key is to find a smart and trustworthy broker.

  • Finding a good mortgage broker is not easy

    Some overcharge, some hide fees but the most common thing we see shady brokers do is find you a deal no matter what — even if it’s not affordable in the long run. Be aware of this. Good brokers are going to give it to you straight, even if it’s bad news.

  • To find a good broker, you need to do your homework

    Call friends, research online and ask the right questions. Meet with a few brokers to compare. Don’t feel pressured. A good broker will walk you through everything and will welcome any request for referrals.

  • There are no upfront fees. Ever.

    If a broker tries to collect on any payments prior to securing a deal, walk away. Reputable brokers don’t work that way.