Second Mortgages in Toronto & Surrounding Cities
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 with the right second mortgage solution. We lend to homeowners in Ontario and with our out of the box thinking, we are able to provide real solutions to meet the borrowing needs of everyday Canadians.
How Second Mortgages Work
A second mortgage is a loan against the equity in your home. Home equity is the value of your home minus the outstanding balance of your mortgage. Whether you need $30,000, $100,000 or even $500,000, we provide second mortgages to help you reach your goals.
When is the best time for a second mortgage? Speak with our specialists today.
Second mortgages are repaid in monthly installments. We offer amortized principal and interest payments or you can choose our interest -only payment option, which allows 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 monthly payment that you can comfortably afford.
The Tribecca Advantage
There are many benefits to a second mortgage. It is one of the easiest and quickest ways for you to get the funds you need. 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. We have 2nd mortgage products that can be customized to suit your specific requirements. 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.
Debt Consolidation
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 monthly payment by up to 50%.
Home Renovations
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.
Business Investment
If you are self-employed, it can be challenging to obtain financing from some lending institutions. We understand lending to business owners and offer second mortgage solutions to provide you the capital required to invest in your business.
A Tribecca Second Mortgage can also help you:
- Pay off a higher rate 2nd mortgage
- Purchase an investment property
- Purchase a vacation property
- Pay for wedding expenses
- Pay for education
- Pay off a consumer proposal
- Pay mortgage and tax arrears
- Purchase an automobile
- Purchase household items
- Pay for unexpected expenses
- Rebuild your credit
- Finance whatever your needs may be
Issues with your Credit?
We know that life happens and anyone can face financial challenges. There are many reasons why your credit may have been impacted and unforeseen life events could be a factor. Not all lending companies view your credit history the same way. At Tribecca Finance, we’ve given second mortgage loans to countless homeowners, regardless of their credit history. Whether you’re looking to secure funds to improve your credit rating, pay off your debts or buy a big-ticket item, we take pride in providing second mortgage solutions to meet the needs of our customers.
Second Mortgage Rates
We can offer the best second mortgage rates in Ontario. A better intertest rate will lower your monthly payment and save you money. Our rates are fixed, and your monthly payment will not change throughout your term.
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.
Learn more about the benefits of a second mortgage.
How to Get Started?
Call us at (416) 225-6900 and speak to one of our friendly lending specialists to help us understand your goals, or apply online in minutes.
Apply Online
Why People Choose Us
Direct Lender
We are the Direct Lender and provide you quick access to funds
Lowest Interest Rates
We can offer the lowest interest rates in the alternative lending market
Easy Application Process
It’s a simple and easy application process with same day approval
Flexible Guidelines
We have flexible guidelines and offer customized solutions
Exceptional Service
Our friendly and professional team will go above and beyond
Hear From Our Customers
“A few months ago, I was looking for a better rate to pay off my second mortgage that was maturing. I found Tribecca online and they were great. They gave me a new second mortgage at a much lower rate then I was paying. They were professional and took the time to answer all my questions. I would definitely recommend them to my friends and family.”
Oakville, ON
“I got myself into a situation where I had a lot of credit card debt and I was able to consolidate all of my credit cards into one monthly payment with Tribecca. My payment became a lot more affordable and it made me feel better knowing that I was working with only one lender to get my finances back on track.”
Pickering, ON
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