Second home insured mortgage
Make your second home possible.
What it is
A mortgage that allows you to buy a second property with as little as 5% down
Great for
A vacation property, a home closer to loved ones, or a place for immediate family members
Best part
Your second home is more achievable without a large down payment
Cashback
Get up to $5,200 in value with a new mortgage.
Offer expires December 15, 2026. Terms & conditions apply.
Key features.
Whether you’re planning to purchase a vacation home for weekends away, a home for immediate family, or your future retirement, an insured second home mortgage can help you buy sooner with a lower down payment.
Keep more money available
With less cash tied up in your down payment, you may have more flexibility for renovations, unexpected expenses, or other financial goals.
Mortgage rate type options
Enjoy the flexibility of choosing a fixed or variable rate mortgage.
Options to prepay
Get some repayment flexibility, with options to prepay up to 20% of your original balance once per mortgage year and increase payments by up to 20% once per mortgage year.
More than just a vacation home.
A second home can support different life goals. Whether you’re looking for a cottage getaway, a home for a child attending school, or a place that keeps family closer together, eligible second-home financing can help make it possible.
Eligible properties
Vacation homes and cottages
Homes for immediate family members
Homes closer to work or loved ones
An immediate family member is defined as a person related to the borrower by marriage, common-law partnership, or any legal parent-child or sibling relationship.
Make your new home yours.
Found a second home with great potential but have a few things you’d like to change? You can borrow for upgrades and renovations as part of your mortgage and enjoy the convenience of simplified payments and potentially better terms.
Talk to us and find out if combining your home purchase and improvement costs is the right fit for you.
Find a specialist near you.
Interested in a new mortgage or refinancing? Browse our mortgage specialists to connect with someone in your area.
Talk through your questions.
For general mortgage inquiries or help with renewing your mortgage, book a time that works for you and we’ll give you a call back.