Second Mortgage Program

Provides borrowers with a Second Mortgage to be registered against their property up to 95% combined LTV on a purchase.
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More Manageable Mortgage Payments for Your Customers

This program allows some financial flexibility for customers who could benefit from a second mortgage, allowing them to do so for new or existing properties.

Standard Premium Rate Chart

LTV Ratio Premium Rate Top-Up Premium
Up to 65% 0.60% 0.60%
65.01% - 75% 1.70% 5.90%
75.01% - 80% 2.40% 6.05%
80.01% - 85% 2.80% 6.20%
85.01% - 90% 3.10% 6.25%
90.01% - 95% 4.00% 6.30%

Eligible Products

  • Business For Self (Alt. A) Program
  • Homebuyer 95 Program
  • Purchase Plus Improvements Program
  • Vacation / Secondary Homes Program (Type A Properties)

Eligibility

  • Can be registered against property up to 95% combined Loan-to-Value on a purchase
  • Available for both existing and new construction homes
Underwriting Policies and Standards thumbnail with Sagen logo

Learn more about this program in the Underwriting Policies & Standards (UPS)

View details