When the bank says no,
equity says yes.
For Canadians with 20%+ equity who need flexibility on credit, income, or property type. Private lenders look at the asset — not just the credit score — and can close fast when traditional banks won't move.
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- Licensed Alberta brokers
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A bridge, not a destination
A private mortgage is short-term financing secured by your home's equity — typically a one- to two-year term, funded by mortgage investment corporations (MICs) or private investors. It exists for situations where the banks won't lend right now, but your situation will improve enough to refinance back to a bank within a year or two.
We only place clients in private financing when we can see a realistic exit strategy. If the path back to A-lender financing isn't clear, we'll tell you so — and help you build that path instead. A private mortgage is a tool. Used right, it solves a temporary problem. Used wrong, it deepens one.
When private financing makes sense
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Discharged bankruptcy or proposal, rebuilding credit. If your discharge is recent and your credit isn't yet at A-lender bar, private bridges you to where banks will lend again — typically 12 to 24 months.
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Self-employed with complex income. Some files take longer than banks have patience for — cash-business income, recent incorporation, declining T1 income, partner buyouts. Private lenders look at the property and the story.
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Properties banks won't touch. Acreages, mixed-use, properties with deferred maintenance, lower-population areas. Private lenders have more flexibility on property type than traditional underwriting.
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Urgent funding timelines. When a deal needs to close in 7 to 14 days and the bank's process can't move that fast, private can.
Higher cost. By design.
Private mortgage rates and fees are higher than bank pricing. That isn't a markup — it reflects the risk profile of the lenders who fund these mortgages. We're going to tell you exactly what you'll pay, in dollars, before you commit.
Rate ranges. Private first-mortgage rates generally start above prevailing bank rates and increase with loan-to-value and credit risk. Second mortgages cost more again. We'll quote your specific number on your specific file.
Lender fees. Most private lenders charge a one-time setup fee, typically a small percentage of the mortgage amount, deducted at closing. This is in addition to the rate.
Broker fees. Unlike A-lender mortgages where the lender pays us, private deals sometimes involve a broker fee paid by the borrower. If your file has one, we'll disclose it in writing before any application. No surprises.
Legal and appraisal. Private lenders require independent legal representation and a current appraisal — usually $1,500 to $2,500 combined. These are paid to third parties, not to us.
Private only works if you can leave
Going into a private mortgage without an exit strategy is how people get trapped paying these rates for years. We won't let that happen on our watch.
Before we place any client in private financing, we map out the path back to a bank: what needs to change, by when, and how to track it. Credit rebuilding milestones. Income documentation timelines. Property condition improvements. Whatever the specific blockers are, we plan the exit before we sign the entry.
If we can't see a realistic exit within 24 months, we'll tell you so — and we'll work with you on the longer-term path before recommending any short-term private solution.
When private is not the answer
A private mortgage is the wrong tool if any of these apply:
You're in an active consumer proposal or undischarged bankruptcy. Taking on new mortgage debt during these legal proceedings can violate your obligations and put your discharge at risk. We won't place files in this situation — and the lenders who will charge rates that often make the underlying problem worse.
You have no realistic exit strategy. If we can't see a path back to bank financing in 12 to 24 months, paying private rates indefinitely is not a solution — it's a slow erosion of your equity.
Less than 20% equity in the property. Most private lenders require meaningful skin in the game from the borrower. Below 20% equity, options narrow significantly.
The monthly payment will strain your cash flow. Private rates mean higher monthly payments. If you can't comfortably handle them, we need to find a different solution.