Private mortgage lenders in Lethbridge: rates, how much you can borrow, and how it works
Rates, how much you can borrow and what lenders look for in southern Alberta, 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 in Lethbridge and southern Alberta, including Coaldale, Taber and Fort Macleod. In November 2026, private first mortgages in Lethbridge run about 6.99% to 9.99% and private seconds about 8.99% to 11.99%, interest-only, plus a lender fee and our broker fee, shown in dollars before you commit. Most lenders go to 70% of the appraised value on a first mortgage 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 Lethbridge home?
Private lenders look at what your home is worth today and what you already owe. In Lethbridge most will lend to 70% of the appraised value on a first 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 Lethbridge 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 Lethbridge 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% |
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 Lethbridge housing market doing, and why does it matter for your loan?
Lethbridge & District Association of REALTORS, monthly statistics (Pillar 9 data), September 2026. Averages from a small number of sales. (ldar.ca) Lenders lend on the appraised value of your own property, not the area figure.
Lethbridge posts average prices from a small number of sales, so one month can mislead. Almost half the homes were built before 1981, and lenders look closely at the roof, wiring and foundation on older houses. Main local industries: agrifood processing, advanced manufacturing, transportation, education and health care.
- Single-detached homes are 25,180 of Lethbridge's 40,225 private dwellings (about 63%). (lethbridge.ca)
- About 45% of Lethbridge dwellings were built in 1980 or earlier (7,225 before 1961 and 10,780 from 1961 to 1980). (lethbridge.ca)
- In 2021, 32% of Lethbridge households rented, higher than the 28% provincial share. (lethbridge.ca)
- The purpose-built rental vacancy rate fell to 0.6% in 2024 (CMHC), down from 2.5% in 2022. (lethbridge.ca)
- The city's economy has a high share of small and owner-operated businesses. (lethbridge.ca)
Who do we help in Lethbridge?
Lethbridge has a high share of small and owner-operated businesses, many tied to agrifood processing, farming and the trades, and their owners can show low taxable income after business write-offs. With rental vacancy at 0.6% in 2024 and almost half the housing built before 1981, investors buying or renovating older rental homes are common, and banks may balk at the condition or the income. Private and B-lenders look mainly at equity, which helps business owners, renovators and borrowers coming out of a consumer proposal get financing while they rebuild for a bank mortgage.
“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“I can't lose the kids' home.”
Buy out your ex, keep the cheap first mortgage.
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
Which local rules affect a Lethbridge property?
These rules change what a lender will do, or what a sale or rental is worth. We check them on every Lethbridge 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)
What happens if a Lethbridge mortgage goes into default?
In Alberta foreclosure goes through the Court of King's Bench. Lethbridge cases are heard at the Court of King's Bench in Lethbridge. 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 Lethbridge?
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 Lethbridge neighbourhoods and nearby towns do we cover?
- Downtown
- London Road
- Henderson Lake
- Lakeview
- Fairmont
- Southgate
- Copperwood
- Riverstone
- Varsity Village
- Paradise Canyon
- Legacy Ridge
- Uplands
We also lend in Coaldale, Coalhurst, Picture Butte, Raymond, Taber, Fort Macleod, and anywhere else in Alberta.
Lethbridge private mortgage questions
Can I get a private mortgage in Lethbridge with bad credit?
Yes. Private lenders in Lethbridge 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 70% for a first mortgage.
How fast can a private mortgage fund in Lethbridge?
A written commitment usually takes 1-2 business days. The appraisal in Lethbridge 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 Lethbridge?
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 Lethbridge?
No. Lethbridge 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 Lethbridge. Our licence in Alberta is with RECA; you can check it on the regulator's site.
Can I get a private mortgage on farmland near Lethbridge?
Sometimes, at low limits. Farmland and acreages usually cap at 50-60% of value, and in Alberta the redemption period on farmland is one year, so fewer private lenders want it. Farm Credit Canada or a credit union is often the better first call, and we will tell you if so.
Can a business owner with low taxable income get a mortgage in Lethbridge?
Yes. A B-lender can use bank statements instead of tax returns, and a private lender looks mainly at equity. We usually try the B-lender first because it costs less.
Other cities in Alberta
Sources. lethbridge.ca · ldar.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