Private mortgage lenders in Calgary: rates, how much you can borrow, and how it works
Rates, how much you can borrow and the Calgary rules that matter, from a licensed mortgage broker.
Written and reviewed by Asim Ali, Mortgage BrokerUpdated 5 November 2026
Licensed: BCFSA (BC) · RECA (Alberta) · FSRA (Ontario) · check our licences
Yes. We arrange private and B-lender mortgages on Calgary homes, from Beltline condos to houses in Saddle Ridge and acreages near Cochrane. In November 2026, private first mortgages in Calgary run about 6.99% to 10.99% and private seconds about 8.99% to 13.99%, interest-only, plus a lender fee and our broker fee, shown in dollars before you commit. Most lenders go to 75% of the appraised value on a first mortgage and 80% combined with a second here. A written commitment usually comes in 1-2 business days and the money in 5-12 business days.
How much can I borrow against my Calgary home?
Private lenders look at what your home is worth today and what you already owe. In Calgary most will lend to 75% of the appraised value on a first mortgage and 80% combined when a second sits behind your current mortgage. Move the sliders to see your own numbers.
You could borrow up to
- Combined loan-to-value
- Likely second-mortgage rate
- Interest-only payment
- Equity you keep
Estimate only, as of November 2026. Lenders use the appraised value, not the assessment. Fees come off the advance.
What are private mortgage rates in Calgary right now?
Rates depend mostly on loan-to-value. The lower your loan against the home, the lower the rate. These are the ranges we see on Calgary files in November 2026.
| Loan-to-value | Private first mortgage | Private second (combined) |
|---|---|---|
| Up to 55% | 6.99-7.99% | 8.99-9.99% |
| 55-65% | 7.49-8.99% | 9.99-10.99% |
| 65-70% | 8.49-9.99% | 10.99-11.99% |
| 70-75% | 9.49-10.99% | 11.99-12.99% |
| 75-80% | Not offered here | 12.99-13.99% |
Interest-only, 12-month terms. Add a lender fee (usually 1-3%), our broker fee (shown in writing first) and about $1,500-2,500 legal. Full rates, fees and APR · All of Alberta
What is the Calgary housing market doing, and why does it matter for your loan?
CREB, City of Calgary MLS HPI benchmark prices, October 2026. (creb.com) Lenders lend on the appraised value of your own property, not the area figure.
Calgary detached prices were almost flat on the year in October 2026, but apartment values fell almost 8%. If you bought a condo near the top, you may have less equity than you think. Lenders use today's appraisal, not what you paid. Main local industries: energy, health care, professional services, transportation and logistics.
- Single-detached houses made up 55% and apartments 24% of Calgary's occupied private dwellings in the 2021 Census. (calgary.ca)
- About seven in ten Calgary households own their home (345,690 owner households in 2021), and 65.2% of owner households carry a mortgage. (calgary.ca)
- Condo values are softer than houses: in October 2026 the City of Calgary apartment benchmark was $288,800, down 7.94% year over year, with 5.28 months of supply versus 3.34 for detached homes. (creb.com)
- Detached benchmark prices vary widely by district in October 2026, from $463,800 in the East district to $992,500 in City Centre and $988,400 in the West district. (creb.com)
- Council repealed citywide rezoning on April 8, 2026; since August 4, 2026 most properties are back on their pre-2024 zoning, secondary suites are a permitted use in all low-density districts, and a property can have either a secondary suite or a backyard suite, not both. (calgary.ca)
Who do we help in Calgary?
Calgary is home to many of Canada's oil and gas companies, so a lot of household income comes with bonuses, contract work or commission that banks average over two years or discount when it swings. With the city's apartment benchmark down almost 8% year over year in October 2026, some condo owners have less equity than they expected when they go to refinance or renew. Private and B-lenders focus on the property's equity and a clear exit plan, which helps self-employed owners, contractors between projects and borrowers rebuilding credit bridge to a bank mortgage.
“Nine years on time, and they won't renew me.”
B-lender on bank statements, or a 12-month private first.
How we handle itCheck my options“Will the proposal stop my renewal?”
Both numbers: pay it out, or keep paying.
How we handle itCheck my options“We close in 10 days and our buyer walked.”
Private bridge on one or both homes, 5-10 days.
How we handle itCheck my options“The house is 70% built and the draws stopped.”
Completion, draw and land financing.
How we handle itCheck my options“I need $120,000 against the house.”
Borrow to 80% combined without touching your first.
How we handle itCheck my options
Which local rules affect a Calgary property?
These rules change what a lender will do, or what a sale or rental is worth. We check them on every Calgary file.
No land transfer tax
Alberta has no land transfer tax. You pay Land Titles fees instead: $50 plus $5 for every $5,000 of the mortgage amount, so a $300,000 mortgage costs about $350 to register. (alberta.ca)
No shortfall claim on most mortgages
Under Alberta's Law of Property Act, a lender on most mortgages to individuals can take the land but cannot sue you for any shortfall. Insured high-ratio and CMHC mortgages are the exception. (kings-printer.alberta.ca)
Six-month redemption period
Foreclosure goes through the Court of King's Bench. You usually get six months to pay out or sell (one year for farmland), and the court can change that. (torys.com)
Calgary suite and zoning rules
After the April 8, 2026 repeal of citywide rezoning (in effect August 4, 2026), a lot may have a secondary suite or a backyard suite but not both, backyard suites again carry a parking requirement, and R-CG height and lot-coverage limits were lowered to 10 m and 55%. (calgary.ca)
What happens if a Calgary mortgage goes into default?
In Alberta foreclosure goes through the Court of King's Bench. Calgary cases are heard at the Court of King's Bench in Calgary. The court sets a redemption period, usually six months and one year for farmland, and can shorten or extend it. A refinance or sale before it ends stops the process.
Your mortgage is registered with Alberta Land Titles. The Edmonton and Calgary offices can each register land anywhere in the province. If a demand letter or court paper has arrived, read how to stop foreclosure or power of sale and call us the same day.
How does getting a private mortgage work if you live in Calgary?
Form or call. Same-day callback, 8am-8pm Pacific, seven days.
Lender named, rate, fees and APR in writing, usually in 1-2 business days.
A local appraiser visits. You sign with a lawyer near you. No office visit needed.
Money in 5-12 business days. We write down how you get back to a bank.
Which Calgary neighbourhoods and nearby towns do we cover?
- Beltline
- Mission
- Hillhurst
- Bridgeland
- Inglewood
- Altadore
- Tuscany
- Signal Hill
- Lake Bonavista
- Mahogany
- Evanston
- Saddle Ridge
We also lend in Airdrie, Cochrane, Chestermere, Okotoks, Strathmore, High River, and anywhere else in Alberta.
Calgary private mortgage questions
Can I get a private mortgage in Calgary with bad credit?
Yes. Private lenders in Calgary look at your equity, the property and your way out more than your score. Scores under 600, a consumer proposal or CRA arrears are common files. What decides the answer is usually loan-to-value: most lenders here stop at 75% for a first mortgage.
How fast can a private mortgage fund in Calgary?
A written commitment usually takes 1-2 business days. The appraisal in Calgary takes 2-5 days, then both lawyers need a few days. Plan on 5-12 business days from your first call to money in your account.
What does a private second mortgage cost in Calgary?
Example: a $100,000 second at about 70% combined loan-to-value, at 10.99% interest-only for 12 months, with a 2% lender fee, a 1.5% broker fee, $1,800 legal and a $450 appraisal. Interest is about $10,990 and fees about $5,750, so the year costs about $16,740, an APR of about 16.7%. Your own numbers come in writing before you commit.
Do I need to visit your office to get a mortgage in Calgary?
No. Calgary files are handled from our Surrey office by phone and video. A local appraiser visits the property and you sign with a lawyer in or near Calgary. Our licence in Alberta is with RECA; you can check it on the regulator's site.
Do private lenders lend on acreages near Calgary?
Yes, at lower limits. Most private lenders cap acreages at 50-60% of value, and the appraisal costs more, usually $700-1,000. Acreages within commuting distance, around Cochrane, Okotoks or Airdrie, get the best terms.
Can I get a private mortgage on a Calgary condo?
Yes. Lenders read the condo documents, the reserve fund study and any special levies. With apartment values down in 2026, the appraisal may come in lower than you hope, so we check recent sales in your building before you pay for one.
Other cities in Alberta
Sources. calgary.ca · creb.com · calgaryeconomicdevelopment.com · canada.ca · albertacourts.ca
Talk it through with a licensed broker before you decide
Tell us what is going on in a few lines. We call you back the same day with what lenders will say, what it costs in dollars, and how you get back to a bank. If private is the wrong tool, we say so.
- Your full cost, in dollars, before you commit
- The lender named on your commitment letter
- A written plan to exit within 12-24 months
Asim Ali, Mortgage BrokerSurrey office · BC, Alberta and Ontario
Tell us three things. A licensed broker calls you today.
No credit check. No ID. No date of birth. We ask what a lender decides on: the property, the equity and the deadline.
- 1Same-day call from Asim Ali or a licensed colleague
- 2A range for rate, fees and APR on the call
- 3Written commitment in 1-2 business days if you go ahead
- 4Nothing to pay until the mortgage funds
Asim Ali, Mortgage Broker
Licensed in BC, Alberta and Ontario · (604) 591-3590