Source-linked mortgage category

Ontario second mortgage rates

A second mortgage ranks behind an existing first mortgage. Published pricing is commonly higher than comparable first-position pricing and should be evaluated with its lender fee and short-term interest cost. The relevant LTV is usually combined secured debt divided by property value, not the proposed second-mortgage amount alone. Location, property type and exit strategy may also change the available tier.

• Confirm that the published row is explicitly second position.
• Calculate combined LTV using all mortgages secured against the property.
• Compare the expected exit or repayment plan with the stated term and fees.