Second Property Mortgages can Help You Achieve Your Goals

While the demand for second property mortgages in Calgary is on the rise, people are choosing to purchase second homes for a number of different reasons:

• Vacation property or recreational property for leisure purposes
• A home in close proximity for aging family
• For children who are attending college or university
• As a short- or long-term real estate investment

Whatever the reason, MBN Mortgage can assist you in developing the ideal second home mortgage strategy. We can also help you determine the best way to generate a down payment. Often, the first step is to consider a home equity loan or refinance mortgage on your current home to facilitate the purchase of your second home.

Need a Second Home? Refinance & Get a Second Mortgage

Second property mortgages can be quite similar to the mortgage you have on your own home. As a matter of fact, many Canadians choose to refinance / second mortgage their residence to come up with the down payment for a second home, vacation home, or home for a family member.

Mortgage rates for second home mortgages and for investor financing are often comparable to first home mortgage rates for most qualified buyers.

Home Equity Loan – Down payment for a Second Mortgage

A home equity loan and second property mortgage are often completed together, with the equity loan on the first property being used as a down payment for the second.

Our team works with mortgage lenders who offer loans from a national real estate portfolio. This, in addition to our expertise in completing transactions concurrently, is piece of mind for you and your family. Start the pre-qualification process for your second home mortgage online with our secure application.