In many ways, market conditions in Canada, Ontario and the Greater Toronto Area (GTA) have never been better for borrowers in need of financing. On the one hand, the traditional banks and lenders tend to engage in some restrictive lending/financing practices. But, on the other hand, this situation lends itself to competition, options and, ultimately, more favourable terms for you, the potential mortgage borrower. This is where alternative mortgage lenders, such as ASCEND MIC, come in.
ASCEND MIC is a mortgage investment corporation (MIC), which is a corporate entity established by the Canadian government to provide more flexibility in Canada’s mortgage sector. So, even though the major banks and lenders have major influence in the mortgage industry, there are alternatives that work for you, the mortgage borrower in need of multiple financing options.
As a result, as a mortgage investment corporation, we are fully sanctioned by all applicable regulations in Canada and Ontario. We are also a fully-licensed mortgage lender, which means we are a regulated financial institution that adheres to various standards and best practices to deliver customers financing solutions that are safe and viable in today’s financial markets. It’s just another part of the ASCEND MIC difference.
The ASCEND MIC competitive advantage
However, where we differ from more traditional banks and lenders is that, as an alternative mortgage lender, we’re simply more competitive. We use our extensive experience in the mortgage industry to deliver financing options that are very hard to find elsewhere.
We offer very favourable interest rates, non-restrictive terms and conditions, as well as quick and easy approval processes.
The reason second mortgages fit our business model so well is that they epitomize our alternative approach to mortgage lending. For example, while you might have a first mortgage with a traditional lender, getting that second mortgage from them might be a challenge.
That’s where ASCEND MIC come in. In providing a second mortgage to you, which means we get second claim on the underlying property, we assume some additional risk, too, but we don’t punish you as a result. We offer some of the best terms and conditions on second mortgages in the industry, and want to use our expertise and know-how to provide the second-mortgage solution that’s right for you.

Our attractive terms and conditions
For example, we offer private second mortgages for owner-occupied detached, semis, and townhomes with interest rates as low as 8.99% for loans ranging between $20,000 and $150,000 and terms of six months, one year and two years.
In addition, we have no income requirement, non-resident programs, approvals within 24 hours, quick funding within seven days of approval, as well as a courteous and professional staff willing to establish trusted and long-standing relationships with clients. It’s just another part of the ASCEND MIC difference.
We don’t only offer second mortgages for the residential sector, but for the commercial sector, too.
Talk to us today to see how ASCEND MIC can offer you a safe alternative mortgage solution. Or apply directly with us. We look forward to hearing from you.