Equity
To qualify for a second mortgage, you must have sufficient equity in your property. Lenders typically require a certain amount of equity, often a minimum of 20% to 30%, depending on the lender's policies.
Author: Canadian Tailored Mortgage Solutions |
To qualify for a second mortgage, you must have sufficient equity in your property. Lenders typically require a certain amount of equity, often a minimum of 20% to 30%, depending on the lender's policies.