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Buying a second property

Your home away from home

A place to unwind

Dreaming of spending summer weekends at the cottage, or looking for a place downtown for when you have to work late? We have advice and mortgage solutions to help you buy your second home.

"Wherever you feel at home, you are at home."

- Tibetan proverb

Guide to buying a second home

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Assess your financial situation

Take a few minutes to take stock of your finances. Find out how much you can afford to borrow and set your price range accordingly. Then estimate your monthly payments.

See calculators
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Get a mortgage loan

If your second home can be used year-round, you can get financing1 for up to 95%2 of its value. If it's a seasonal cottage, you can get financing up to 90%3 of the property's value. You can choose a fixed, variable or reduced rate on your mortgage loan, and your amortization period can be up to 25 years. Accelerated repayment options are available.

No matter which options you choose, don't forget to take out loan or line of credit insurance to protect your investment in the event of disability, critical illness or death.

See our mortgage loans
Children run to dive into a lake
Children run to dive into a lake
Children run to dive into a lake
Children play in a sprinkler on a lawn

Get a home equity line of credit

You can also take out an All-In-OneTM line of credit for up to 65%4 of the property's value. You'll enjoy a great interest rate of Prime5 + ${p5.ecart}% = ${p5.taux}%.

You'll only need to pay interest and insurance premiums each month, and can repay the principal at your convenience. You'll also be able to access all amounts repaid as credit.

See the All-In-One line of credit
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Refinance your mortgage and leverage your home equity

Over time, your primary residence has almost certainly increased in value. By refinancing your home, you could free up funds for a downpayment on a second home, or even buy it outright.

Learn about refinancing
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Happy couple talking on a couch
Happy couple talking on a couch
Couple talking to an advisor

Meet with an advisor

Our mortgage advisors will help find the right financing solution for you and guide you through the process, from pre-approval to purchase. They'll even come meet you at a time and place that's convenient for you.

Find an advisor
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Take out loan or line of credit insurance to make sure your payments don't become a burden to your loved ones in the event of critical illness, disability or death.

Solutions to power your dreams

Mortgage loans

Whether you want the peace of mind that comes with a fixed rate, the potential interest savings of a variable rate, or a combination of the two, we've got the mortgage loan for you.6

See our mortgage loans

Home equity line of credit

Buy a home with the All-In-One™ line of credit and leverage your home equity to finance new projects, like renovations or travel.6

See the All-In-One line of credit

Loan and line of credit insurance

Get disability, critical illness and life coverage for your loan or line of credit so that your loved ones don't inherit your debt.7

See loan insurance

Our mortgage solutions can help you get the home of your dreams.

See all our solutions

More on buying a home

Little details that matter

Legal disclaimers

TM All-In-One is a trademark of National Bank of Canada.

1. These solutions are subject to credit approval by National Bank.

2. Loans exceeding 80% of the property value must be insured by the Canada Mortgage and Housing Corporation (CMHC).

3. Loans exceeding 65% of the property value must be insured by Genworth.

4. Maximum amount allowed based on credit file.

5. The prime rate means the annual variable interest rate posted by National Bank, from time to time, and used by the Bank to determine the interest rates on the demand loans it grants in Canadian dollars in Canada.

6. Subject to credit approval by National Bank of Canada. Certain conditions apply.

7. Certain conditions apply.

Ready to start?

You'll get an edge over other buyers and guarantee your interest rate for 90 days—it's free and there's no obligation to buy.

Get pre‑approved
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