As long as you own a property in Ontario or Toronto with equity, you may be able to qualify for a 2nd mortgage Ontario or 2nd mortgage Toronto. We offer second mortgages of up to 85% loan to value. This being said, the more equity your home has available, the higher your chances are of qualifying for a second mortgage. If you will be purchasing a house, having a larger down payment will decrease the risk a second mortgage lender takes on, leading to lower rates. Lenders tend to look at equity as one of the most important factors when qualifying you for a second mortgage rates Toronto.