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Second Mortgages

We specialize in providing second mortgages in Ontario for people with bad credit. Unlike the major Canadian banks, we approve on equity not credit.

Private Lenders

We have a network of Ontario private mortgage lenders who lend on properties across Ontario. We get quotes from multiple lenders to ensure that you get the best deal.

Power Of Sale

A power of sale is a commonly used legal process in Ontario, which allows the mortgage lender to sell your property and recover their money. We stop this process and keep you in home.

Second Mortgages Toronto & Ontario

As mortgage brokers, we can help you get the mortgage or loan that you need. We can provide low-interest rate first and second mortgages in Toronto & Ontario, private mortgages, home equity loans, stop foreclosures and power of sales in Ontario and across Canada.

At the Mortgage Broker Store, our team of dedicated agents will work to get you what you need, and can save your home and finances.

Mortgage Broker Store has clients in the GTA and throughout Ontario. Wherever you are in Ontario, we can assist you. We have agents in the following locations:

Need Mortgage Advice?

Speak with us directly and we’ll go over the best options for your income, credit score, and property.

A second mortgage is a loan that is secured by a house or property. A second mortgage falls behind a first mortgage in terms of debt priority. Getting a second mortgage is fairly easy if you have enough equity in your house. Call us or fill out our application to quickly find out if you can get a second mortgage.

First Mortgages

You can refinance up to 75% of your home value. Use the equity in your home money to do what you always wanted or start your own business.

Second Mortgages (2nds)

Canadian’s can use the money from second (2nd) mortgages on their houses to invest in other properties or pay personal debts. Many people have a first mortgage that does not make sense to break due to the penalties. This is when a second mortgage makes sense. A second mortgage can replace high-interest credit card debt with a lower interest second mortgage.

A second mortgage is a loan that is secured by some type of real estate. A second mortgage has the second claim to the property after the first mortgage. Since a second mortgage is not as secured as a first mortgage the interest rate may be higher than a first mortgage. Second mortgages usually come with a 1-year term which can be renewed. You can also have the option to make interest-only payments. Most second mortgages are funded by private lenders.

Second mortgages usually have a maximum loan to value ratio of 85% for major cities across the country. Properties in rural areas have a maximum loan to value ratio of 75%. We provide second mortgages for homes across Canada.

Home Equity Loans

A home equity loan is very similar to a second mortgage with some of the same terms and conditions. If your home has a high level of equity you could qualify for a home equity loan. Most home equity loans have a loan to value ratio below 70%. Home equity loans are a very good option for people on a fixed income or who are self-employed.

Home equity loans are primarily based on the equity in your home. Factors such as a bad credit score or a low income are usually not considered. For example, if you have a house in Toronto, Ontario with no debt worth $300,000 our lenders could provide you with a home equity loan of about $210,000.

Foreclosures and power of sales happen in most cities across the country. If you are trying to stop a power of sale or foreclosure of your home in Canada we may be able to assist you. Each power of sale or foreclosure is unique and our mortgage agents can explain your options. In most cases the best way to stop a power of sale or foreclosure is to pay off the existing mortgage with a private mortgage. Another option to stop a power of sale or foreclosure is to sell the house.

In the case of a “foreclosure” the lender is taking the property away from the present owner. The owner receives no money from the sale of the house even if there is a large amount of equity. A “power of sale” happens when a house is put up for sale. The present owner still has title to the property, but no longer controls the house. The lender now controls the house and can sell the house for any amount of money. The original home owner may get some money when the house is sold.

Documents such as a “Notice of Default” or “Statement of Claim” should be acted upon quickly. Once the legal process is started it can be very expensive and difficult to stop. Management and legal fees can wipe out any equity in the home. Provinces have different laws, therefore the laws in  Ontario maybe quite different to laws in Quebec.  The lender may still have the right to sue the home owner for any loss on the property. Here is our recommended lawyer list for real estate transactions..

Bad Credit Second Mortgages and Loans

We can provide loans to people in Ontario and across Canada with bad credit scores. We can even provide loans for people with no credit history in Canada. Home equity loans are not based on your credit score and your credit history will not be a factor.

Private mortgage lenders are an alternative source of financing. The money is provided by an individual who directly invests in your property. Private mortgage lenders can provide the private money you need when other lenders have turned you down. Private mortgage lenders have a more flexible set of criteria for loans than most lenders.

Our lenders across Ontario base the loan on the amount of equity in your home. Most private loans will have a maximum loan to value ratio of 85%. Private loans are not based on your credit score. You could have low credit score and still qualify for a loan if you have equity in your home.

Private mortgages can be used to finance home renovations, debt consolidations and many other purposes.Private mortgage loans usually have a higher level of risk associated with them. Private loan lenders will ask for a higher interest rate to offset the risk.

Scarborough, East York, North York, Etobicoke and the former City of Toronto were amalgamated to form the present City of Toronto.


Scarborough is on the eastern side of Toronto, it was made up of smaller towns which include Agincourt, Guildwood, West Hill, The Bluffs , Wexford and Woburn. Scarborough has a number of colleges which include Seneca College, Centennial College and the University of Toronto’s Scarborough campus. There are many different shopping locations which include Scarborough Town Centre , Parkway Mall, Bridlewood Mall, Eglinton Square and Malvern Town Centre.

Some of the main north south streets in Scarborough Victoria Park, Warden Avenue, Brichmount Road, Kennedy Road, Brimley Road, McCowan Road, Markham Road, Morningside Road and Port Union Road.  The main east west roads are Kingston Road, St. Clair, Eglinton Avenue, Lawerance Avenue, Ellesmere Road, Sheppard Avenue and Finch Road.

East York

East York has a distinct feel to it. The Beach or Beaches area is on the north side of Lake Ontario. This has always been one of the most desirable places to live in Toronto. It has fantastic older homes with a mix of new homes, condos and semi-detached homes. Queen Street East is the main area for restaurants and shopping. Danforth Avenue is home Greek town it has the best Greek restaurants in Toronto. Playter Estates is on the north side of Danforth Ave and has many older Victorian style homes. Riverdale is on the south side of Danforth Avenue has Victorian homes with detached and semi-detached homes. Leslieville is one of the hottest real estate markets in Toronto, it has a mix of detached and semi-detached homes.

The main north south roads are Woodbine Avenue, Coxwell Avenue, Greenwood Avenue, Pape Avenue, Broadview  Avenue. The main east west roads are Queen Street, Gerrard Street, Danforth Avenue and O’Conner Drive.

North York

North York is a great area to live in with many smaller communities which include, Bayview Village, Willowdale, Don Mills, York Mills, Don Valley, Downsview, Newtonbrook and Wilson Heights. North York is also has the Bridle Path area, this is where some of the largest and most expensive homes in Canada are located.

North York has Yorkdale Shopping Centre, The Shops at Don Mills, and many other smaller shopping locations such as Peanut Plaza and Bayview Village.

The Don Valley Parkway and Highway 401 are the major highways. The main north south streets are Don Mills Road, Leslie Street, Bayview Avenue, Yonge Street, Bathurst Avenue

We have specialized private mortgage brokers in every province including Ontario. They can quickly assist you in getting the money you need. Our private mortgage brokers can tell you within a matter of minutes if you qualify for a loan.

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