Private Mortgage in Toronto & Ontario

Fast Approvals • Flexible Lending • Funding in as Little as 48 Hours

Today's Lowest Private Mortgage Rates:

From 6.19%

1-Year Fixed

From 5.5%

3-Year Fixed

From4.9%

5-Year Fixed

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Who We Help

Private mortgages are designed for Ontario homeowners who need speed, flexibility, or a second chance.

Homeowners seeking fast equity to cover urgent expenses or seize an opportunity

Self-employed professionals with income that’s hard to document

Borrowers with bruised or low credit scores who are rebuilding

New Canadians with limited credit history or documentation

Families looking to consolidate high-interest debts into one manageable payment

Owners needing 2nd or 3rd mortgages for renovations, investments, or tax arrears

Homeowners facing power of sale, arrears, or collections who need a quick rescue

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Why Choose City Mortgages for a Private Mortgage?

Choosing the right private mortgage partner can make the difference between a stressful experience and a smooth one.

Here’s why thousands of Ontario homeowners trust us:

Fast: Same-day assessments and funding in as little as 48 hours mean you can act quickly.

Flexible: Approvals are based on equity and property value, not just credit score or employment type.

Transparent: We provide a clear rate and fee breakdown upfront—no hidden costs or surprise charges.

Network Power: Access to dozens of private lenders across Ontario ensures you get competitive terms.

Human Help: From your first call to final funding, you’ll work with a dedicated mortgage expert who explains every step.

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How a Private Mortgage Works

Getting a private mortgage through City Mortgages is simple:

Apply in minutes

Share your property details and funding goals through our secure form.

Same‑day equity assessment

We review your property value, existing mortgage balance, and equity position.

Receive tailored options

We present rate, term, and payment structures that fit your needs.

Fast funding

Once you select a lender, funds can be advanced in as little as 48 hours.

Typical uses include

Bridging to traditional bank financing

Paying CRA or property tax arrears

Consolidating credit card or payday loan debt

Stopping a power of sale or foreclosure

Completing renovations or repairs

Investing in a business or time-sensitive opportunity

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Rates & Terms: What to Expect

Private mortgage pricing depends on your property’s loan-to-value (LTV) ratio, location, and overall file complexity.

Here are typical ranges:

First mortgages: 7.99% – 12.99%

Second mortgages: 9.99% – 14.99%

Fees: usually 2% – 4% of the loan amount (includes lender & broker fees)

Payments: often interest-only to keep monthly costs low

Term length: typically 6–24 months (open terms available)

Maximum LTV: up to 80% depending on property and market

Disclaimer: Rates and fees are illustrative and may change without notice. Final terms depend on appraisal, lender guidelines, and legal review.

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Qualification Snapshot

Private lenders look primarily at the equity in your property rather than just your income or credit.

Property Types

Detached, semi-detached, condos, townhomes, some rental properties, and select commercial/mixed-use.

Regions Served

Greater Toronto Area and major Ontario markets including Mississauga, Brampton, Vaughan, Markham, Richmond Hill, Hamilton, Kitchener-Waterloo, London, Ottawa, and more.

Documentation Needed

Government ID
Current mortgage statement(s)
Property tax statement
Income proof (flexible for self-employed)
Recent appraisal if available

Real Client Outcomes (Social Proof)

Here’s how private mortgages have helped our clients achieve their goals:

Debt Consolidation

"$85,000 second mortgage funded in 72 hours reduced a client’s monthly credit-card payments from $1,400 to $565 interest-only."

Power of Sale Rescue

"A Toronto homeowner avoided foreclosure with a bridge private first, then refinanced with a prime lender after 9 months of credit rebuild."

Renovation Financing

"A self-employed borrower accessed $250,000 for major home upgrades, then moved to a bank mortgage once their Notice of Assessment improved."

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Payment Example (Illustrative)

Loan Amount: $150,000 (Second Mortgage)

Rate: 11.99% (interest‑only)

Monthly Payment: ~$1,499/month

Term: 12 months

Fees: 3% ($4,500) – typically deducted from loan proceeds

Net Advance: ~$145,500 before legal and appraisal costs

Illustrative only: not a commitment to lend. Request a custom quote for exact numbers.

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Compare Your Options

Which Option Fits Me Best?

Feature

Qualification

Speed

Use of Funds

Payments

Best For

Private Mortgage

Equity‑based

1–5 days

Flexible

Often interest‑only

Fast cash, complex files

HELOC

Income/ credit‑based

2–4 weeks

Flexible

Revolving

Low‑rate ongoing access

Unsecured Loan

Strong credit required

1–7 days

Limited amount

Amortized

Smaller amounts

FAQs

How fast can I get funds?

With a complete file and cooperative timelines, 48–72 hours is common.

Do I need perfect credit?

No. We regularly approve clients with bruised or thin credit as long as equity is strong.

Are payments interest‑only?

Often yes, to keep monthly payments low. We’ll show both interest-only and amortized options.

Can I pay off early?

Many private mortgages allow early payout. We’ll confirm any prepayment terms before you sign.

What will it cost me?

Pricing depends on LTV, location, and risk. We disclose all rates and fees upfront.

Do you work with power of sale or arrears?

Yes. We move quickly to stop a power of sale and clear arrears or CRA debts when equity supports it.

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Meet Your Mortgage Expert

Your City Mortgages Specialist (FSRA Lic. M24003062)

With over 15 years of experience, our experts have helped thousands of Ontario homeowners access equity quickly and safely.

We guide you through every step—from your first call to final funding—while keeping the process transparent, stress-free, and fully compliant.

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Compliance & Transparency

City Mortgages is an FSRA-licensed brokerage (M24003062).

Your information is secure and never sold.

We provide a full cost of borrowing disclosure and APR before you sign any agreement.

We practice responsible lending by recommending exit strategies and bank-refinance plans whenever feasible.