How much higher are private mortgage rates in Ontario?

Meaningfully higher. Bank rates currently range from roughly 4 to 6%. B-lender rates are 5 to 8%. Private mortgage rates generally range from 8 to 15% annually, plus lender and brokerage fees of 1 to 4%. Private mortgages are most valuable as a short-term bridge with a clear exit strategy to conventional financing.

What fees will I pay on a private mortgage in Ontario?

All fees are disclosed in writing before you commit. Typical costs include: lender fee (1 to 2%), brokerage fee (1 to 2%), legal fees ($1,500 to $2,500 each side), and appraisal ($300 to $600). In most cases, fees can be deducted from the mortgage advance rather than paid out of pocket.

How quickly can you fund a private mortgage in Ontario?

Private mortgages can sometimes fund in 5 to 7 business days with complete documentation. Straightforward private transactions typically close in 10 to 15 business days. Conventional transactions take 15 to 21 days. Speed depends on documentation, appraisal timing, and lender capacity.

FSRA Licensed • Brokerage #12596

Ontario's Trusted
Mortgage Advisors.

Q: What happens at mortgage renewal?

When Good Home Capital places a private mortgage, we also discuss what you need to accomplish during the term to qualify for better financing at renewal. Many clients successfully transition to B or A lenders. A realistic transition plan is part of every private mortgage conversation.

We find the right mortgage, at the right rate, for the right stage of your life, even when traditional lenders say no.

Get Your Rate Our Services →

5.0 ★★★★★ Google Reviews

★★★★★ Prantik made my whole experience a pleasant one and made me feel at ease

Angie Crossman

★★★★★

I was very nervous to do a mortgage but Prantik made my whole experience a pleasant one and he made me feel at ease throughout the process. Prantik went above and beyond for me as he will for you too. While he was on vacation I had anxiety and txt him he called me right away, who does that? I highly recommend Prantik for your mortgage solutions.

Angie Crossman View on Google

★★★★★ Mary was a true lifesaver. She made us feel completely at ease

Claire Schramek

★★★★★

Mary was a true lifesaver. From start to finish she made us feel completely at ease, always taking the time to ensure we understood every detail. Mike was also incredibly helpful, offering support and insights that made a big difference for us. Working with them showed us how valuable a good mortgage broker can be. It's nothing like renewing with the bank, where it became painfully obvious they weren't looking after our best interest. We honestly couldn't be more grateful for their support and would recommend them to anyone.

Claire Schramek View on Google

★★★★★ Super helpful, patient and knowledgeable. Couldn't have done it without him

Penne Novakuske

★★★★★

We worked with Prantik for our mortgage for over 2 months. He was super helpful, patient and knowledgeable. If it wasn't for Prantik I don't think we would of been able to go through the process without help. Thanks again Prankit Saha.

Penne Novakuske View on Google

⌂

Residential Mortgages

Straightforward guidance for purchases, renewals, and refinances.

Not every borrower needs a private lender, and if you qualify for A or B lender rates, we'll tell you directly. We broker the full spectrum of residential mortgages and shop your file across multiple lenders to find your best option.

Who This Is For

First-time homebuyers navigating the process
Homeowners approaching renewal who want better options
Borrowers who want an independent broker in their corner
Anyone wanting clear, honest mortgage guidance

A first-time buyer in Brampton with thin credit and 15% down was declined by two online lenders. We found an A-lender monoline program that accepted alternative credit history and secured pre-approval within 48 hours.

Get Pre-Qualified →

★

Self-Employed Mortgages

Income that doesn't fit the box.

Traditional lenders rely on T4 slips and NOAs. That model disadvantages self-employed borrowers who legitimately minimize taxable income. We work with lenders who accept alternative income documentation and understand how to read a business.

Who This Is For

Sole proprietors, incorporated business owners, and freelancers
Borrowers whose tax returns understate true cash flow
Self-employed individuals 2+ years into their business
Contractors or gig workers without traditional employment docs

An Ottawa general contractor declared $38K income but bank statements showed $140K+ in annual deposits. Two banks declined him. We arranged a B lender mortgage using 24-month bank statement income at 6.4% for a purchase he thought was impossible.

Talk to a Broker Today →

◆

Private Mortgages

Solutions when traditional lenders have turned you away.

When your bank declines your application, it doesn't mean financing is out of reach. Private mortgages are funded by investors and mortgage investment corporations who evaluate your application based on property equity, not just credit scores. We connect you with private lenders across Ontario who are positioned to help.

Who This Is For

Homeowners with equity who've been declined by A or B lenders
Borrowers needing funding faster than conventional timelines
Individuals with bruised credit or non-traditional income
Anyone needing short-term capital while rebuilding their profile

A Mississauga homeowner with $280K equity was declined due to a consumer proposal filed three years prior. We arranged a private first mortgage at 10.5% for 12 months, enabling debt settlement. At renewal, they transitioned to a B lender at a substantially lower rate.

Get a Free Assessment →

▲

Bad Credit Mortgages

Your credit score isn't the whole story.

A credit score below 600 narrows your options but doesn't eliminate them. We work with lenders who evaluate the full picture: your equity, your property, and where you're headed financially. Our role is to find a realistic path forward and be honest about the costs involved.

Who This Is For

Borrowers with credit scores under 600, including below 500
Those discharged from bankruptcy or completed a consumer proposal
Homeowners with collections, judgments, or CRA arrears
People rebuilding after financial hardship (job loss, illness, divorce)

A couple in Hamilton with a 480 credit score following bankruptcy discharge owned a home with 40% equity. We placed them with a private lender at 11% for one year. After consistent payments, their score improved to 620 and they refinanced with a B lender at renewal.

Start Your Recovery Plan →

■

Commercial Mortgages

Financing for investors, business owners, and developers.

Commercial financing is underwritten differently. Lenders assess the property's income potential, your business's health, and your experience. We have access to lenders who work in this space and represent your interests, not the lender's.

Who This Is For

Investors acquiring multi-residential, retail, or industrial properties
Business owners financing their own commercial premises
Developers needing construction bridge financing
Investors declined by their bank for a commercial transaction

A London, ON investor owned a six-unit building free and clear but was declined for refinance due to building age. We placed the file with a commercial MIC at 9.75% for 2 years, releasing equity to acquire a second property.

Discuss Your Deal →

↻

Refinancing Solutions

Restructure, consolidate, reset.

Done strategically, refinancing can eliminate high-interest debt, free up capital, or reset your finances entirely. We model the actual numbers: what you'll save, what it costs, and whether it makes sense. We'll tell you honestly if it doesn't.

Who This Is For

Homeowners with high-interest credit card or personal loan debt
Borrowers needing equity access for renovations or tax arrears
Those in mortgages with punishing prepayment penalties
Homeowners needing to restructure for lower monthly cash flow

A Barrie homeowner had $180K in equity and $62K in credit card debt at 24% average. Despite a 590 credit score, we arranged a private refinance consolidating everything, reducing monthly obligations by over $1,400 with a 12-month path to B-lender qualification.

Run the Numbers →

⚙

Bridge Financing

Close the gap between transactions.

Real estate transactions rarely align perfectly. Bridge financing is a short-term loan secured against property that gives you capital to close a transaction while a longer-term solution is arranged. It is a tool for a specific, time-limited purpose.

Who This Is For

Homeowners who've purchased before their current home sells
Borrowers needing to act quickly on a purchase
Investors needing short-term capital to close a deal
Anyone funding a gap between two real estate transactions

An Oakville family's sale fell through days before their purchase closing. They needed $310K within 14 days or would forfeit their deposit. We arranged a 3-month bridge loan within 7 business days, giving them time to relist and sell.

Bridge Your Transaction →

⚠

Power of Sale Rescue

Urgent financing when time is running out.

Receiving a Notice of Sale is frightening. If you have equity in your home, there may still be options, but they require fast, decisive action. We have experience in urgent situations and will be direct about what is and isn't possible given your circumstances. We strongly recommend consulting a real estate lawyer immediately.

Who This Is For

Homeowners who've received a Notice of Sale under Mortgage
Borrowers in arrears facing redemption period expiry
Homeowners with simultaneous pressures (arrears, CRA debt, liens)
Anyone wanting an honest assessment before accepting home loss

A Burlington homeowner fell four months behind after unemployment. With a Notice of Sale expiring in three weeks and $190K in equity, we arranged private financing within 11 business days to pay out the mortgage and arrears in full. He remains in his home.

Get an Urgent Assessment →

Mortgage rates and terms quoted are illustrative ranges based on current market conditions and are subject to change. Individual rates depend on borrower profile, property type, and lender criteria. Nothing above constitutes a commitment to lend or guarantee of approval. All costs disclosed in writing before commitment. OAC.

Will I qualify even with bad credit?

It depends on your situation. For private lenders, equity in your property is often the primary consideration. Borrowers with scores below 500, past bankruptcies, or consumer proposals have obtained private mortgages when sufficient equity exists. We cannot guarantee approval, but we can give you an honest assessment after reviewing your file.

How much higher are private mortgage rates?

Meaningfully higher. Bank rates currently range from roughly 4–6%. B-lender rates are 5–8%. Private mortgage rates generally range from 8–15% annually, plus lender and brokerage fees of 1–4%. Private mortgages are most valuable as a short-term bridge with a clear exit strategy to conventional financing.

What fees will I pay?

All fees are disclosed in writing before you commit. Typical costs include: lender fee (1–2%), brokerage fee (1–2%), legal fees ($1,500–$2,500 each side), and appraisal ($300–$600). In most cases, fees can be deducted from the mortgage advance rather than paid out of pocket.

How quickly can you fund a mortgage?

Private mortgages can sometimes fund in 5–7 business days with complete documentation. Straightforward private transactions typically close in 10–15 business days. Conventional transactions take 15–21 days. Speed depends on documentation, appraisal timing, and lender capacity.

Is a private mortgage a good long-term solution?

For most borrowers, no. Private mortgages are best as a bridge: a short-term solution that gives you time to resolve the underlying issue and transition to conventional financing. Because rates and fees are significantly higher, staying long-term is costly. Part of our job is to help you build a realistic plan to move out of private financing.

Can you help if I'm self-employed?

This is one of the most common situations we handle. Many lenders accept alternative documentation: 12–24 months of bank statements, contracts, accountant letters, or financial statements. The longer your self-employment history and stronger your equity, the more options are available.

What happens at renewal?

When we place a private mortgage, we also discuss what you need to accomplish during the term to qualify for better financing at renewal. Many clients successfully transition to B or A lenders. A realistic transition plan is part of every private mortgage conversation we have.

Do you charge for the initial consultation?

No. The initial consultation is free and carries no obligation. We review your situation, give an honest assessment of your options, and outline what's possible, at no cost. We are compensated by lenders if and when a mortgage closes.

Ontario's Trusted
Mortgage Advisors.

Mortgage Solutions for Every Situation

Residential Mortgages

Self-Employed Mortgages

Private Mortgages

Bad Credit Mortgages

Commercial Mortgages

Refinancing Solutions

Bridge Financing

Power of Sale Rescue

Built on Transparency, Not Sales Pressure

We Work for You, Not the Lender

Full Cost Transparency

A Path Forward, Not Just a Transaction

Speed When It Matters

From First Call to Funded Mortgage

Free Consultation

Lender Matching

Offer Review

Funding

Frequently Asked Questions

Ready to Explore Your Options?

Ontario's TrustedMortgage Advisors.

Mortgage Solutions for Every Situation

Residential Mortgages

Self-Employed Mortgages

Private Mortgages

Bad Credit Mortgages

Commercial Mortgages

Refinancing Solutions

Bridge Financing

Power of Sale Rescue

Built on Transparency, Not Sales Pressure

We Work for You, Not the Lender

Full Cost Transparency

A Path Forward, Not Just a Transaction

Speed When It Matters

From First Call to Funded Mortgage

Free Consultation

Lender Matching

Offer Review

Funding

Frequently Asked Questions

Ready to Explore Your Options?

Ontario's Trusted
Mortgage Advisors.