Private Mortgages Toronto
When the bank says no and the deadline says now, a private mortgage is the answer. We arrange equity-based first and second mortgages across Toronto and the GTA - fast approvals, common-sense underwriting, and a clear plan to move you back to conventional financing.
A mortgage judged by the property, not a scorecard.
Banks approve people. Private lenders approve properties. A private mortgage is funded by an investor, a mortgage investment corporation, or a private lending firm, and the security is the real estate itself. That changes what matters: how much equity sits in the home, how easily the property would sell, and how the loan gets repaid at the end of the term.
Because the decision is not driven by the stress test or a credit score, files that die at a bank often clear at a private lender in a couple of days. The trade-off is price - private money costs more, so it is meant to be a bridge, not a destination.
Equity comes first
Private lenders look at the property, the equity position, and the exit plan. A thin credit file or a year of self-employed write-offs does not end the conversation.
Built for deadlines
Firm closing next week, a builder deadline, or a tax bill due. Private files can be underwritten and funded in days rather than weeks.
Light on paperwork
No stress test gymnastics and far less documentation. Usually an appraisal, mortgage statements, tax status, and a clear plan for repayment.
Power of sale help
If arrears or an enforcement notice have started, a private mortgage can pay out the lender in default and buy you the time to sell or refinance on your terms.
First and second positions
Keep a good low-rate first mortgage in place and add a second behind it, or replace the whole thing with a new private first. We price both ways.
An exit, not a trap
Every file we place comes with a written plan for how you get back to a bank or B lender when the term ends.
Situations private lenders are built for.
- Self-employed or commission income that banks will not verify
- Late payments, collections, a consumer proposal, or a past bankruptcy
- Mortgage arrears, property tax arrears, or a power of sale notice
- Consolidating high-interest credit cards into one manageable payment
- Bridge money between buying a new home and closing the sale of the old one
- Pre-construction condo or builder closings the bank will not fund in time
- Renovation or construction draws on a property that is mid-project
- Newcomers and work permit holders without Canadian credit history
- Rental portfolios past the number of properties a bank will finance
- Estate, separation, or buy-out situations that need cash quickly
What a private mortgage costs you.
Private mortgages price above bank rates and normally include a lender fee and a brokerage fee, plus legal and appraisal costs. Most are interest-only for six to twenty-four months, which keeps the monthly payment low while you sort out the underlying issue.
We put every number in front of you before you sign, and if a conventional lender, a B lender, or a HELOC would serve you better, we will say so. Independent legal advice is part of the process on private files, and it protects you.
All mortgages are subject to lender approval and property qualification. Amounts, rates, and loan-to-value limits vary by lender, property type, and location.
Approved on equity. Bad credit considered.
Text or call (647) 342-1355 for a free quote. No cost, no obligation, no credit pull to start. Conditions apply.
From first text to funded.
1. Tell us the situation
Property address, roughly what it is worth, what is owed, and what you need the money for. Ten minutes by text or phone. No credit pull to start.
2. We shop the file
We take it to our network of private lenders, MICs, and investors and come back with real options, including the rate, fees, term, and total cost in writing.
3. Appraisal and commitment
You pick the option that fits, we order the appraisal, and the lender issues a commitment with the conditions spelled out.
4. Lawyers close it
Your lawyer registers the mortgage and the funds are advanced. Simple files can move from first call to funding in under a week.
Private mortgage FAQ.
What is a private mortgage?
A private mortgage is a loan secured against real estate and funded by a private lender, mortgage investment corporation, or individual investor instead of a bank. The decision rests mainly on the property and the equity in it, not on rigid income and credit rules.
Who uses private mortgages in Toronto?
Self-employed borrowers with write-offs, people with bruised credit, buyers on work permits, homeowners facing a power of sale, landlords with several properties, and anyone who needs to close faster than a bank can move.
How much can I borrow?
Most private first mortgages go up to roughly 75 to 80 percent of value, and combined first plus second positions can reach 85 to 90 percent on strong urban properties. The number depends on the location, property type, and marketability of the home.
What does a private mortgage cost?
Private financing prices higher than bank financing and usually carries a lender fee plus a brokerage fee, legal costs, and often an appraisal. We show you the full cost in writing before you commit so you can compare it against the alternatives.
How fast can it close?
Straightforward files can fund in a few business days once we have the appraisal and lawyer in place. Urgent power of sale and builder closing files are the ones we move fastest on.
Is a private mortgage permanent?
It should not be. Most private mortgages are interest-only terms of six to twenty-four months. The plan is to stabilize the situation, repair credit or income documentation, and then move you back to a bank or B lender at a lower rate.
Tell us the property and the deadline.
Send the address, the approximate value, what is owed, and when you need the money. We will come back with what private lenders can do - and whether a cheaper option exists.
Text (647) 342-1355 for the fastest reply, or call the same number.