Second Mortgages
A second mortgage loan allows you to use the equity you’ve built in your home to access the additional funds you need.
At Streamline Mortgages, we aim to provide homeowners with the most favorable mortgage rates available. Our dedicated team of mortgage professionals are available to answer any questions you have about our programs and options.
Many homeowners choose to take out a second mortgage to make renovations or repairs on their home or to pay off substantial amounts of debt. With Streamline Mortgages, we offer the most competitive and favourable mortgage terms to our clients. We also make the process of securing a second mortgage easy.
What is a Second Mortgage?
A second mortgage is a loan that uses home equity (the difference between the current market value of the home and any remaining mortgage balance) to fund various expenses. A second mortgage is a type of home equity loan, but it is not to be confused with an actual home equity loan.
Typically, most homeowners take out a second mortgage in order to renovate or repair their home as well as to pay off large amounts of debt. The benefit of a second mortgage is that it will not affect your first mortgage and would be structured to mature at the same time as your current mortgage. The borrower also receives the lump sum at the beginning of the loan and is free to spend those funds however he or she likes. This second mortgage is then paid back in a similar manner that a first mortgage is paid off: over a specific period and at fixed or variable interest rate, or through a subsequent refinance.
Streamline Mortgages: Your Trusted Mortgage Company
Streamline Mortgages is your trusted mortgage company, home to expert mortgage professionals who not only work to secure the most competitive rates for our clients but also take the time to discuss whether a second mortgage is the right financial decision for you. With Streamline Mortgages, there are no obligations or hidden fees. Everything is up front. It’s part of the reason why we are the among the leading mortgage companies in Ontario.
With Streamline Mortgages, you can expect a customer experience that you will remember. We go above and beyond to ensure that every option is thoroughly discussed so that you can feel confident you are making the best financial decision. We have only our client’s best interests in mind. On top of that, our services are prompt and efficient.
Services We Offer
In addition to second mortgages, we also offer:
Apply for a second mortgage in 30 seconds here and receive approval within 24-48 hours. We also offer free consultations, which you can request here. If you prefer, you can call us toll free at 1-877-812-5464.
Let Us Help You Put The Value
Of Your Assets to Good Use
