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 24-hour 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, a second mortgage is 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.
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 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.
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. 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.
A second mortgage is a way to wisely consolidate your debts into one lower monthly payment. Paying off higher interest rate credit cards or loans can save you thousands of dollars in interest each year and reduce your debt payments significantly.
Paying for a home renovation or repairs can become costly. If enhancing your living space, making repairs or simply investing in your home is important to you, a second mortgage is a great way for you to finance the expenses.
If you are self-employed, it can be challenging to obtain financing from some lending institutions. We understand lending to business owners and can offer innovative second mortgage solutions.
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
- Cover medical expenses
- Finance whatever your specific needs may be
Second Mortgage Rates
Our common sense approach to lending has made Tribecca Finance a leading alternative lending company. Our decades of experience and understanding various types of borrowing needs enables us to provide creative 2nd mortgage solutions. In addition to providing all of our customers with personalized options, we can offer the best second mortgage rates in Toronto.
How to Get Started?
Simply apply online or call us at (416) 225-6900 and one of our friendly advisors will be pleased to assist you in achieving your goals.