Second Mortgages in Nanaimo & Vancouver Island

Vancouver Islands Best Choice for Brilliant Mortgage Solutions

Second mortgages for people in Nanaimo and Vancouver Isalnd

Looking for your a second mortgage on your home? Do you live in the Nanaimo, Parksville, Nanoose, Lady Smith, Duncan or Courtney areas of Vancouver Island? We can help

A second mortgage typically refers to a secured loan (or mortgage) that is in second place to another loan against the same property.

In real estate, a property can have multiple loans or liens against it. The loan which is registered with the province first is called the first mortgage or first charge against the property. The lien registered second is called the second mortgage. A property can have a third or even fourth mortgage, but those are much more rare.

Second mortgages are called subordinate because, if the loan goes into default, the first mortgage gets paid off first before the second mortgage. Thus, second mortgages are riskier for lenders and generally come with a higher interest rate than first mortgages.

In most cases, a second mortgage takes the form of a home equity loan and the two are synonymous, from a financial standpoint. The difference in terminology is that a mortgage traditionally refers to the legal lien instrument, rather than the debt itself.


Why Get a Second Mortgage At All? What are the benefits?

  • - Refinancing to consolidate high interest debts
  • - Pay for unexpected expenses
  • - Renovate your home
  • - Repay and eliminate judgments or unsettled collections
  • - Opportunity for you to invest in stocks mutual funds or business investments

At Sand Dollar Mortgage Corp. We can help you with your second mortgage and determine your best course of action. Give us a call, you will not be disappointed.

What's Next?

Get in Touch

First time buyer or refinancing? Call for a free quote!

learn more

Apply Now

We shop for the best mortgage option at no charge to you.

learn more

Mortgage Calculators

Crunch the numbers and explore your mortgage options!

learn more
Schedule a Free, No-Hassle Call Today

Have questions?
Not sure where to start?

Let's schedule a quick call.
Zero-hassles and zero-obligation.
We can help answer any questions you might have.

Schedule a Call
users image

Hi, How can I help you?