Private mortgage lenders in Ontario (2026): rates, the power of sale timeline and the FSRA rules that protect you

Where in Ontario we lend

The GTA (Toronto, Mississauga, Brampton, Vaughan, Markham, Scarborough), Hamilton and Niagara, Kitchener-Waterloo and Guelph, London, Barrie, Oshawa and Durham, and Ottawa. Loan-to-value steps down outside the Greater Golden Horseshoe and Ottawa: expect 65% in smaller centres and 50-60% on rural property. Condos in the 416 and 905 work at normal pricing. Pre-construction assignments, co-ops and properties with open building violations do not.

Local rates, limits and rules for each city:

Ontario private mortgage rates and fees by loan-to-value, November 2026

Interest-only, 12-month terms. Broker fee 1-2%, in the FSRA disclosure before commitment. Legal $1,800-3,000 (two lawyers; Toronto costs more). Appraisal $450-700 plus HST. Example APR: $120,000 second at 11.99% with 2% + 2% fees and $2,200 legal and appraisal, 12 months: 17.82%. Calculator and full tables.

Who the private mortgage lenders in Ontario are

Ontario has more private money than anywhere in Canada, and the quality varies. We place files with established MICs: Westboro Investment (Ottawa, broker-only), Magenta Capital (Ottawa, rates from 5.84% at low LTV), BFT MIC (Hamilton, $50K-$5M, fully open), CMI Financial Group (Mississauga), Atrium MIC (TSX-listed), Hosper, Ginkgo, plus Calvert Home Mortgage, Alta West, Antrim, Three Point, VWR and Armada lending into Ontario from the west. In the GTHA, MIE arrears reached 11.14% in Q1 2026 (CMHC), so some lenders are stressed and quicker to enforce. A lender that will renew at month 12 if your exit slips is worth a quarter point. The verified list.

Private mortgage lenders in Toronto and the GTA

About 17% of GTA mortgages by count are private (WOWA, using FSRA's 2024 data). Toronto is also where private lending is most stressed: MIE arrears in the Greater Toronto and Hamilton Area hit 11.14% in Q1 2026 (CMHC). That changes how we pick a lender for a Toronto file.

• Toronto lenders we use: CMI Financial Group (Mississauga), Atrium MIC, DV Capital, Hosper Mortgage, Ginkgo MIC and Tribecca Finance, plus Calvert, Alta West, Three Point and VWR lending in from the west.
• Loan-to-value: up to 75% on a first and 80% combined on a second for detached homes and larger condos in the 416 and 905. Condos under 500 square feet and pre-construction assignments get less or nothing.
• Land transfer tax: buyers in the City of Toronto pay both the Ontario and the municipal land transfer tax. On a purchase, that double tax is often why the cash comes up short and a private second or bridge is needed.
• Pick a lender that will renew. With GTHA arrears this high, some lenders enforce fast. We favour lenders with a record of renewing when an exit slips by a few months.

We do not have a Toronto office. Toronto files are handled from Surrey with Toronto appraisers and lawyers, under the brokerage's FSRA licence.

How power of sale works in Ontario, and where a private mortgage fits

Ontario lenders do not need a court order to sell. Under the Mortgages Act a lender can use power of sale once a mortgage is 15 days in default, by serving a Notice of Sale (the "red notice" by registered mail) that gives you 35 days to pay the arrears and costs. That makes Ontario the fastest enforcement regime of the three provinces. Days matter most here.

Power-of-sale listings in Ontario are up about 59% year over year to a 24-month high (broker index, October 2026). Toronto arrears have more than quadrupled from their post-pandemic lows (CMHC, February 2026). A private first that pays the arrears and the lender's costs inside the 35 days is the standard rescue. What to send on day one.

What FSRA requires of your broker

• Level 2 or broker licence. Since 1 April 2024, Level 1 agents may only deal with banks and other regulated lenders. Only a Level 2 agent or a mortgage broker may arrange a private mortgage. Ask which level the person helping you holds.
• Written disclosure at least two business days before you sign (O. Reg. 188/08 s.35). It shows the lender, every fee, who pays the broker, the term, renewal provisions and any conflict, and the cost of borrowing as an APR. The wait is there so you can read it and get legal advice. (Form 1 is the separate disclosure the private lender or investor receives.)
• APR disclosure under O. Reg. 191/08. FSRA's 2024 review found only 35.5% of private files stated APR correctly and 28.6% left out charges. Ours includes the lender fee, broker fee and legal costs.
• Brokerage name and licence number on all public material (O. Reg. 188/08 s.6). That is why they are on every page here.
• Enforcement is active. FSRA brought 43 mortgage-sector actions in 2024-25. 2026 penalties include $85,000 against a brokerage for undisclosed fees and falsified income.

Common Ontario situations

Ontario private mortgage questions