Private mortgage lenders in Edmonton: rates, how much you can borrow, and how it works
Rates, how much you can borrow and the Edmonton 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 Edmonton houses, condos and rentals, and across the region in St. Albert, Sherwood Park, Spruce Grove and Leduc. In November 2026, private first mortgages in Edmonton 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 Edmonton home?
Private lenders look at what your home is worth today and what you already owe. In Edmonton 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 Edmonton 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 Edmonton 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 Edmonton housing market doing, and why does it matter for your loan?
REALTORS Association of Edmonton, Greater Edmonton Area MLS HPI benchmark prices, September 2026. (realtorsofedmonton.com) Lenders lend on the appraised value of your own property, not the area figure.
Greater Edmonton prices were flat to slightly down in September 2026, and there were about 17% more homes for sale than a year earlier. More than 40% of Edmonton condos are rented out, so many condo owners are small investors. Main local industries: health care, construction, retail and the energy-processing plants of the Industrial Heartland.
- In 2021, 63.8% of Edmonton households owned their home and 36.2% rented. (edmonton.ca)
- Single-detached homes are 50% of Edmonton's dwellings, apartments 30% and other attached homes 19%, versus 60% single-detached province-wide. (edmonton.ca)
- 52% of Edmonton's dwellings were built before 1991. (edmonton.ca)
- CMHC estimates more than 40% of Edmonton condominiums are rented out, so many condo owners are investors. (edmonton.ca)
- Greater Edmonton inventory was 16.7% higher in September 2026 than a year earlier, and the townhouse benchmark was down 3.4% year over year. (realtorsofedmonton.com)
- Permits are required for all secondary suites; a suite can be in a single detached, semi-detached, row house or backyard house, but not in an apartment, and only one suite per principal dwelling. (edmonton.ca)
Who do we help in Edmonton?
Many Edmonton-area paycheques come from construction, trades and the energy-processing plants of the Industrial Heartland, where shift, contract and overtime income can be hard to fit into a bank's two-year averaging. With more than 40% of condos rented out, a lot of borrowers are small investors who need to pull equity or refinance a rental that a bank may decline. With inventory up about 17% on last year and condo values flat to down, private and B-lenders can step in for a short-term bridge, debt consolidation or a second mortgage when the bank says no.
“Will the proposal stop my renewal?”
Both numbers: pay it out, or keep paying.
How we handle itCheck my options“Three cards at 21% and a car loan.”
Roll it into one payment, with a plan to clear it.
How we handle itCheck my options“A red notice came by registered mail.”
Pay the arrears and costs inside the window.
How we handle itCheck my options“I can't lose the kids' home.”
Buy out your ex, keep the cheap first mortgage.
How we handle itCheck my options
Which local rules affect a Edmonton property?
These rules change what a lender will do, or what a sale or rental is worth. We check them on every Edmonton 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)
Edmonton zoning is changing
An Order in Council of October 22, 2026 directs Edmonton to amend Zoning Bylaw 20001 by January 22, 2027 so RS-zone uses, density, height and parking are comparable to the pre-2024 rules, which may affect plans to add units to a lot. (edmonton.ca)
What happens if a Edmonton mortgage goes into default?
In Alberta foreclosure goes through the Court of King's Bench. Edmonton cases are heard at the Court of King's Bench in Edmonton. 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 Edmonton?
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 Edmonton neighbourhoods and nearby towns do we cover?
- Oliver
- Downtown
- Garneau
- Old Strathcona
- Glenora
- Westmount
- Ritchie
- Windermere
- Terwillegar Towne
- Summerside
- Mill Woods
- Griesbach
We also lend in St. Albert, Sherwood Park, Spruce Grove, Leduc, Beaumont, Fort Saskatchewan, and anywhere else in Alberta.
Edmonton private mortgage questions
Can I get a private mortgage in Edmonton with bad credit?
Yes. Private lenders in Edmonton 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 Edmonton?
A written commitment usually takes 1-2 business days. The appraisal in Edmonton 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 Edmonton?
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 Edmonton?
No. Edmonton 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 Edmonton. Our licence in Alberta is with RECA; you can check it on the regulator's site.
Can I refinance an Edmonton rental condo with a private lender?
Yes. Lenders look at the condo's value, the condo documents and whether the rent covers the payment. Expect a lower limit than on a house, often 65-70% of value, and a plan to move to a B-lender or bank within 12-24 months.
Is a consumer proposal a problem for an Edmonton mortgage?
Not for a private lender. An active or recently finished proposal is common on Edmonton files. The proposal can often be paid out at funding, which helps rebuild credit for the move back to a bank.
Other cities in Alberta
Sources. edmonton.ca · realtorsofedmonton.com · canada.ca · alberta.ca · industrialheartland.com · 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