Vault Credit’s Classic 2nd mortgage is a short-term financing solution offering a 12-month term, which becomes open after three months with a 30-day notice. It features simplified approvals, characterized by low documentation requirements and a common-sense approval process. This product is particularly suited for borrowers with moderate to strong credit profiles who need quick closing or can’t supply the extensive documentation typically required by banks to verify income. It’s ideal for self-employed individuals or those earning commission income who seek accessible, efficient secondary mortgage options without the stringent qualifications of traditional lenders.

Key details

Max Loan to ValueMax Loan to Value (LTV) is the largest loan you can get based on your home's value. For a $500k house, 80% LTV means you can borrow $400k or pay $100k down. 60% of Home Value
Credit ScoreThe minimum credit score required to qualify. If you don't know your score, reach out and we can help.
Max Amortization
Mortgage Amount $ 75K - $ 250K

Rates and fees

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Disclaimer: This rate table represents the best rates available from this lender. Rates and fees may depend on several factors, such as your Loan to Value, credit history, income, property use, property location, etc. For a precise quote, fill out the form at the bottom of the page for a no-obligation call.

More information

2nd Mortgage Equity Takeout
Minimal Documents Quick Funding Qualify at Contract Rate

This section lists what the lender either does accept or they may consider on a case-by-case basis depending on the rest of the application. If it’s case-by-case, we try and include a note in the policy details to help give more specific information. But keep in mind alternative (private and ‘b’) mortgages are situation dependent and some of the above items can’t be combined. If you’re unsure or have a question, please fill out the contact form at the bottom of the page or speak with your mortgage professional.

About the Lender

Vault Credit Corporation is a Toronto-based financial services firm dedicated to catering to the varied financial needs of borrowers. They provide a range of credit products including mortgages, which are crafted with flexibility to meet the individual requirements of borrowers. If you are looking to finance a home purchase, Vault Credit offers mortgage solutions that could be tailored to your financial situation. With a commitment to excellence, the company strives to deliver financial products that facilitate your goals. Operating in Canada, Vault Credit is a reliable entity that aims to simplify the borrowing process, making it a viable choice for individuals in need of mortgage financing.

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The content on this website is for informational purposes only and does not constitute professional advice. Policies, rates, and fees are subject to change without notice at the lender’s discretion. There may be additional costs not mentioned on this page. Cost of financing is depends on the situation, and it is the responsibility of your mortgage professional to disclose that information at the time of application. In the event of a discrepancy between this page and the lender, the lender is assumed to be correct. Before making any financial decisions, please consult with a qualified mortgage professional. By using this website, you accept the above statement and our terms and conditions.