Third Mortgage
I can arrange a third mortgage in Ontario for up to 85% of the equity in your home.
The money can be used for any purpose:
- Debt consolidation
- Down payment for an investment property
- Vacation
- A new car
- Investments
- Home renovations
For more information on a third mortgage or for third mortgage rates, call today or apply online.
What is a third mortgage? The dictionary definition would be “a debt registered against a property that is secured by a third charge on the property”. In laymans terms, a third mortgage would be one that is placed behind both a first and second. A third mortgage makes sense when the cost to refinance the first and/or second mortgage is greater then the savings to place a 3rd mortgage in a smaller position.
