Second & Third Mortgages
2nd and 3rd Mortgages (also known as Equity Loans or Private Mortgages) can be a great short term fix. They are traditionally higher in rates and fees than first mortgages, but they fit a niche when the option of refinancing your existing first mortgage is not available at the present time.
There are many reasons why refinancing, or increasing, your existing mortgage might not be the best option. These include, pay out penalties, current interest rates are higher, or perhaps the inability to qualify. Either way, often, it can be easier and cheaper to simply take on a new second mortgage.
If it is not the right time to refinance your existing mortgage and you simply need some extra money for any purpose, whether it’s a family emergency, an investment option, to cover debts, or whatever the reason, then a second mortgage might be the perfect solution for you.
A 2nd or 3rd mortgage can be for as short as a few months to as long as a couple of years; whatever your current situation requires. There are very few requirements with second mortgage lenders and they get you your money fast, right when you need it!
If you think a second or third mortgage is what you need, or even if you are not quite sure yet, please give us call, and we can give you the advice you need to make the right decision and find the right solution.
Call us today at 403.284.4000
Contact Us
600-602 12th Avenue SW
Calgary, AB
T2R 1J3
Toll Free 877.284.4009
P 403.284.4000
F 403.284.4010
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