Bank said no? A private mortgage can still get you funded in days, not months.
Faizal Garasia works with 230+ lenders across Ontario to place financing for people banks turn away — bad credit, self-employed income, foreclosure, or a closing date that's coming up faster than a bank can move.
- Why the bank declined you, in plain language
- What loan-to-value and rate range you're realistically looking at
- Which of the 230+ lenders in the network actually fit your file
- A rough timeline to funding, before you commit to anything
— GET IN TOUCH
Book a free mortgage consultation
Toronto & the GTA — virtual across Ontario & Canada
In-person & virtual meetings, 7 days a week
FSRA #10557 — Dominion Lending Centres
What is a private mortgage, exactly?
A private mortgage is a home loan funded by an individual investor, mortgage investment corporation (MIC), or private lending company — instead of a bank, credit union, or other traditional “A” lender.
Where a bank underwrites you mainly on income, credit score, and the mortgage stress test, a private lender in Ontario underwrites primarily on the equity in your property. That single difference is why private mortgages exist: they fill the gap for good properties attached to financial situations banks aren’t set up to say yes to.
Private mortgages are usually short-term (six months to three years), carry a higher interest rate than a bank mortgage to offset the lender’s added risk, and are meant to be a bridge — to rebuilt credit, to a sale, or back to conventional “A” lender financing.
—IS THIS FOR YOU
Who a private mortgage is built for
If any of this sounds familiar, a private mortgage is worth a 15-minute conversation before you assume the answer is no.
Bad credit or a past bankruptcy
Approval is equity-based, not credit-score-based, so past credit issues rarely disqualify you outright.
CRA or tax debt
Some lenders will fund the mortgage and pay out the CRA balance directly at closing, if there's enough equity.
Self-employed or unverifiable income
No traditional pay stubs? Private lenders can look past standard income documentation.
Declined by your bank
A recent decline from an A lender doesn't mean the deal is dead — it usually means a different underwriting approach is needed.
Facing power of sale or foreclosure
Fast funding can pay out arrears and buy the breathing room to refinance properly.
Need to close fast on a purchase
Bridge and short-close financing for deals where a bank simply can't move fast enough.
Mortgage payment calculator
Estimate your payment in seconds. This is a planning tool — your exact rate depends on equity, location and credit review.
Compounded semi-annually, Canadian standard. Accelerated options reduce overall term and total interest paid.
— WHERE YOU ACTUALLY FIT
Bank, B-lender, or private lender?
A-Lender (Bank)
B-Lender
Private Lender
— WHAT WE ARRANGE
Private mortgage services across Ontario
Private First Mortgage
Purchase or refinance financing when a bank has declined.
Second Mortgage
Access equity without touching your existing first mortgage.
HELOC
A revolving line of credit secured against your home equity.
Power of Sale & Foreclosure
Fast-close options to stop arrears from becoming a lost property.
Low Credit Score Mortgage
Financing built around bruised or thin credit files.
Construction Mortgage
Draw-based financing for builds and major renovation projects.
Commercial Mortgage
Private financing for commercial and mixed-use property.
Cash Back Mortgage
Free up cash at closing for moving costs, renos or debt payoff.
First-Time Home Buyer
Guidance and financing for buyers with limited credit history.
Rental & Investment Property
Financing for rental-equity take-out and investment portfolios.
Bridge Financing
Short-term funding to close the gap between buying and selling.
Mortgage Renewal & Refinance
Renewal shopping and refinancing to a better rate or structure.
Faizal Garasia
Licensed Mortgage Broker · Credit Consultant & Team Leader
Faizal has over 15 years of experience in the mortgage industry and works with more than 230 lenders to secure private and alternative mortgage solutions across Toronto and Ontario — with one application and one credit check.
He works exclusively with clients to find the mortgage that fits their financial situation, without wasting their time or unnecessarily impacting their credit score.
Verify FSRA Licence #10557 on the public registry →— WHY CHOOSE US
Reasons homeowners choose this brokerage
15+ years of mortgage industry experience
Deep familiarity with private and alternative lending across Ontario.
Access to 230+ lenders
Big banks, credit unions and private lenders compared for you.
Comprehensive financial guidance
Wealth-building, budgeting and planning beyond just the mortgage.
Client satisfaction that shows in the reviews
390+ mortgages funded, consistently strong client feedback.
— PRICING
Private mortgage rates & terms in Ontario
| PRODUCT | TYPICAL RATE | MAX LTV | TYPICAL TERM |
|---|---|---|---|
| Private 1st Mortgage | 4.99% + | Up to 80% | 1–3 years |
| Private 2nd Mortgage / HELOC | 7.99% – 12% | Up to 85% combined | 6 months – 2 years |
| Construction / Bridge | 8% – 13% | Draw-based | 6 – 18 months |
| Commercial Private Mortgage | Custom quote | Up to 75% | 1 – 3 years |
Rates last reviewed August 2026. Fees (lender, broker and legal) apply on top of interest — ask for a full cost breakdown before signing any commitment letter.
Private mortgage lending across the
GTA & Ontario
In-person in Scarborough, virtual everywhere else — same process, same speed.
— COMMON QUESTIONS
Private mortgage FAQ
What is a private mortgage in Canada?
A loan secured against your property and funded by an individual, syndicate, or Mortgage Investment Corporation instead of a bank. Approval is based mainly on home equity, which makes it faster and more flexible than bank financing, but rates and fees are higher.
What credit score do I need for a private mortgage?
There's usually no hard minimum. Approval is based primarily on equity and a clear exit strategy, so borrowers with a score well below 600, or a past bankruptcy or consumer proposal, can often still qualify.
How fast can I get approved?
A conditional approval can arrive within 24 to 48 hours. Full funding typically takes 2 to 5 business days once an appraisal is done and your lawyer prepares the closing.
Can I get a private mortgage with CRA debt?
Yes. Private lenders regularly approve borrowers with outstanding CRA debt, provided there's enough equity to cover the mortgage plus the tax liability, often paying the CRA lien directly from the proceeds at closing.
How much equity do I need?
Most private lenders require at least 15 to 25% equity remaining after the new mortgage, meaning a maximum loan-to-value of roughly 75 to 85%, depending on the property.
Are private mortgages safe?
They're legal and provincially regulated, but riskier than bank financing due to higher rates and shorter terms. Working with a licensed broker who discloses every fee in writing, and having a clear exit plan, is how to use one safely.
Can I switch back to a bank mortgage later?
Yes — this is the most common exit strategy. Most clients use a private mortgage for 6 to 24 months to rebuild credit or stabilize income, then refinance into an A- or B-lender mortgage at a lower rate.
— GET IN TOUCH
Book a free mortgage consultation
Toronto & the GTA — virtual across Ontario & Canada
In-person & virtual meetings, 7 days a week
FSRA #10557 — Dominion Lending Centres