second home mortgage

Are you considering to purchase a Second Home?

Your work hard and sometimes you need to reward yourself for all the sacrifices. Owning a second home is easier than you think. We can help you finance your Second home and pave that way. Your loved ones will appreciate it.

Perhaps it is a vacation property you have been dreaming about. We can help you realize that dream too.

What we promise you

A first time home buyer’s mortgage with —

  • Quick approval
  • Low down payment
  • Low interest rates 
  • Flexible terms
  • Favorable repayment terms

What you should do

  1. Use our Maximum Mortgage qualifier to know how much you qualify for. Factors that affect the amount you can borrow —
    • Amortization period
    • Borrowing rate 
    • Your gross income
    • All other debt payments plus your current mortgage payment
  2. Submit an online pre-approval application.


Here are some quick facts for a second home mortgage to help you get started —

    • What is the least down payment for a Second Home?

At least 5% of the sale price of your home. If you have 5 to 19% down payment, you will need mortgage insurance. No mortgage insurance, if your down payment is 20% or more.

    • What is the required down payment if my credit is bad?

If credit is bad or challenged, you will need  at least 20% down. Sometimes we can find a mortgage solution with only 15% down if the home is in a major city.

    • What is a second home mortgage?

A mortgage on a second home or vacation property. A family member must occupy a 2nd home, rent free.

    • What is the most important step for a second home buyer?

You need to qualify by affording the mortgage payments, property tax and heating costs on 2 homes.  It is best to get pre qualified by a mortgage broker or bank before you decide to look for a property. We would be happy to discuss this with you.  We help you determine your qualification and how much of a home you can afford.

We give unbiased, professional advice.   We find you the options and products best suited to your needs.

The Process of Obtaining a Mortgage

Here’s a simple illustration on how we will secure your mortgage.

first time home buyers

What if my credit is bad? Do not worry, we have alternative lending solutions. Learn more.

For more information on our second home mortgage solutions, call us today 1-877 237-2601 or fill out our online contact form.


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RMA Mortgages offers first time home buyer special mortgage programs to qualified borrowers. Click the links below for more information.
  • Mortgage for Self Employed Individuals
  • Mortgage for New Canadian Immigrants
  • Mortgage for Canada Non-Residents