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Second Mortgages in Toronto

Why Choose Us

  • We are the Direct Lender
  • We can offer the lowest second mortgage interest rates
  • It’s a simple and easy application process with same day approval
  • We have flexible guidelines and offer customized solutions
  • You’ll get exceptional service with quick responsiveness

Second Mortgages Across Ontario

Are you a home owner looking to secure funds? Would obtaining these funds benefit you and pay for the things you care about? For many people, second mortgages in Toronto are one of the most convenient and cost-effective ways to do so.  At Tribecca Finance, we are experts in second mortgage lending. Our experienced team is committed to providing you the right second mortgage solution. We lend to homeowners in the Greater Toronto Area and surrounding cities and our out of the box thinking helps us understand the unique borrowing needs of Canadians.

Second Mortgage Debts Consolidation

How Second Mortgages Work

A second mortgage is a loan secured against the equity in your home. The primary criteria for the amount you can borrow is based on the equity in your home. Home equity is the value of your home minus the outstanding balance of your mortgage. Whether you are looking to borrow a few thousand or hundreds of thousands of dollars, we offer second mortgages to meet your needs.

When is the best time for a second mortgage? Speak with our specialists today.

When obtaining a second mortgage, it is repaid in monthly installments. We offer amortized principal and interest payments or you can choose our interest -only payment option, which enables you to lower your monthly payment. We can also design a custom payment plan with zero payments for up to 12 months. With these options, you will have peace of mind knowing that you will have a payment plan that you can comfortably afford.

Second Mortgage vs. HELOC

A home equity line of credit (HELOC) allows you to borrow up to a set amount, just like a credit card. The amount of your monthly payments is dependent upon how much you owe. Since it’s revolving, you don’t need to apply for another loan once you have paid everything off. With a second mortgage loan you receive the entire funds. You are able to access a larger amount of equity and the approval guidelines are more flexible.

Benefits of a Second Mortgage

There are many benefits to a second mortgage. It is one of the easiest and quickest ways for you to obtain the funds you require. A second mortgage, for example, could be used towards your child’s university education. If you want to avoid paying the penalties to refinance your first mortgage, a second mortgage is an option and may be a better choice. Our lending guidelines are more flexible than the banks and we have a simple and easy application process.

Pay off your debt and lower your monthly payment by more than half.

With a Second Mortgage you can also use the funds to:

  • Pay for unexpected expenses
  • Purchase an investment property
  • Pay for wedding expenses
  • Pay for education
  • Pay off a consumer proposal
  • Pay mortgage and tax arrears
  • Purchase an automobile
  • Purchase household items
  • Finance whatever your specific needs may be

How to Get Started?

Apply online, or call (416) 225-6900 and one of our friendly advisors will be pleased to assist you in achieving your goals.