2nd Mortgages for Small Business & Self-Employed
Second Mortgages for small business owners and the self-employed in Richmond Hill, Toronto and the GTA
If you're looking for a second mortgage and require financing, we can help!
A second mortgage is an additional mortgage that is placed on a property with an existing first mortgage. Second mortgages, also called 2nd mortgages, are considered to be a bit riskier than first mortgages since if the property goes into default, the first mortgage holder must be paid first. Due to the increased risk, interest rates for second mortgages are typically more than those for first mortgages.
If you own at least 20% of the equity in your home, you will typically be approved for a second mortgage in the Richmond Hill, Toronto and GTA. A second mortgage can provide needed money to help renovate your home or even make capital available for your small business. With a second mortgage you can make your dreams come true by using an asset you already own.