Sale: Second Mortgage
Loan amount available: $25,000 - $250,000
Maximum equity take out:
- Up to 95% for detached homes
- Up to 85% for condos and townhouses
Property types:
- Principal residence
- Rental property
- Multi-unit
Term details:
- 1 year term (renewable)
- Open with $1,000 penalty to payout early
- No upfront lender fee (fee is added to the amount borrowed)
- Monthly interest only payments