Second mortgage rates in Ontario
The lowest rate published specifically for second mortgages is 4.79%, from DUCA Credit Union.
Lowest: 4.79%Half are at or below 8.99%Highest: 12.99%
83 products from 28 lenders. One record per lender is shown, lowest displayed rate first. Latest check October 19, 2026. 12 more are published for first or second mortgages and listed after the second mortgages.
- DUCA Credit Union
First Rate Second Mortgage — 3 Year Fixed Closed · 3 years · Second · LTV not stated · No lender fee stated
Residential second mortgage
4.79%Checked October 19, 2026Lender source opens in a new tab - Golden Horseshoe Credit Union
3 Year Closed Second Mortgage · 3 years · Second mortgage · LTV not stated · Fee not published
Residential property; lender membership, credit and qualification criteria apply
5.35%3-year closed second mortgageChecked October 19, 2026Lender source opens in a new tab - St. Stanislaus–St. Casimir's Polish Parishes Credit Union
3 Year Closed Residential Second Mortgage · 3 years · Second mortgage · LTV not stated · Fee not published
Residential property; lender membership, credit and qualification criteria apply
5.69%3-year closed second mortgageChecked October 19, 2026Lender source opens in a new tab - Oshawa Community Credit Union
Meritline Second Mortgage · Term not stated · Second mortgage · LTV not stated · Fee not published
Residential property; lender membership, credit and qualification criteria apply
Prime + 1.75% (6.20% at published Prime 4.45%)Checked October 19, 2026Lender source opens in a new tab - Equity Credit Union
Home Equity Line of Credit Second Mortgage · Term not stated · Second mortgage · LTV not stated · Fee not published
Residential property; lender membership, credit and qualification criteria apply
7.45%HELOC second mortgageChecked October 19, 2026Lender source opens in a new tab - Uptown Financial
1 Year Closed Private Second Mortgage — 60% LTV · 1 year · Second mortgage · Up to 60% LTV · Fee wording published
Private mortgage subject to application review; minimum published Beacon score is 600 and income documents may be required
7.45% starting60% LTVChecked October 19, 2026Lender source opens in a new tab - L.I.U.N.A. Local 183 Credit Union
5 Year Closed Second Mortgage · 5 years · Second mortgage · LTV not stated · Fee not published
Residential property; lender membership, credit and qualification criteria apply
7.50%5-year closed second mortgageChecked October 19, 2026Lender source opens in a new tab - Sequence Capital
Urban Second Mortgage · Term not stated · Second · Up to 50% LTV · Fee wording published
Urban Ontario residential property
From 7.99%Lowest of 5 matching rowsChecked October 19, 2026Lender source opens in a new tab - The Police Credit Union
1 Year Second Mortgage · 1 year · Second mortgage · LTV not stated · Fee wording published
Residential; lender qualification criteria apply
8.00% interest8.232% APRChecked October 19, 2026Lender source opens in a new tab - Three Point Capital
Horizon — Second Mortgage · 1 year · Second · Up to 60% LTV · Fee wording published
Minimum Beacon 625 to 70% LTV · minimum Beacon 650 above 70% LTV
8.35%Lowest of 3 matching rowsChecked October 19, 2026Lender source opens in a new tab
What this list shows
Records a lender publishes for second mortgages only are listed first. Records published for first or second mortgages together follow them.
A second mortgage ranks behind an existing first mortgage. Published pricing is commonly higher than comparable first-position pricing and should be evaluated with its lender fee and short-term interest cost. The relevant LTV is usually combined secured debt divided by property value, not the proposed second-mortgage amount alone. Location, property type and exit strategy may also change the available tier.
Before comparing two of these rates
- Confirm that the published row is explicitly second position.
- Calculate combined LTV using all mortgages secured against the property.
- Compare the expected exit or repayment plan with the stated term and fees.
Public research used for this guidance
- Financial Consumer Agency of Canada — borrowing against home equity opens in a new tab
Canadian guidance on second mortgages, HELOCs, borrowing limits and risks.
- Financial Consumer Agency of Canada — prepayment penalties opens in a new tab
Canadian guidance on charges that can matter when comparing mortgage terms.
Published rates only, in each lender's own wording. This is not a recommendation or an approval. Rates can change after the date shown; open the lender's source and ask for a current quote before acting.