Services

First and Second Mortgages

Most people apply for a first mortgage in order to purchase a home. Without a mortgage loan, the majority of Canadians wouldn’t be able to afford a house.  Individuals with a 20 percent down payment can apply for a conventional mortgage, who those with less than 20 percent down must apply for mortgage insurance.


Homeowners usually apply for second mortgages - or home equity loans - to tap into the equity in their home. In other words, rather than getting a personal loan, they tie the installment loan to their property, leveraging their home with another lien. The intent is to borrow money from the equity you have established in your property. People usually get second mortgages to fund renovations, pay for university expenses, fund start-ups, and pay for other big-ticket purchases.