Private mortgage lenders in Ottawa: rates, how much you can borrow, and how it works
Rates, how much you can borrow and the Ottawa rules that matter, from a licensed mortgage brokerage.
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 across Ottawa, from Centretown and Westboro to Kanata, Orleans, Barrhaven and rural homes inside city limits. In November 2026, private first mortgages in Ottawa run about 7.49% to 11.49% and private seconds about 9.49% 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 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 Ottawa home?
Private lenders look at what your home is worth today and what you already owe. In Ottawa most will lend to 75% 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 Ottawa 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 Ottawa files in November 2026.
| Loan-to-value | Private first mortgage | Private second (combined) |
|---|---|---|
| Up to 55% | 7.49-8.49% | 9.49-10.49% |
| 55-65% | 8.49-9.49% | 10.49-11.99% |
| 65-70% | 9.49-10.49% | 11.99-12.99% |
| 70-75% | 10.49-11.49% | 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 Ontario
What is the Ottawa housing market doing, and why does it matter for your loan?
Ottawa Real Estate Board, MLS HPI benchmark prices, October 2026. (oreb.ca) Lenders lend on the appraised value of your own property, not the area figure.
Ottawa single-family prices were almost flat in October 2026, while apartments fell about 5% with more than seven months of inventory. The city covers 2,788 square kilometres, so rural homes with wells and septic systems are common, and lenders treat them differently. Main local industries: the federal government, health care and professional and technical services.
- The City of Ottawa covers 2,788 square kilometres, more than four times the land area of Toronto, so rural homes, hobby farms and acreages sit inside city limits. (www150.statcan.gc.ca)
- OREB tracks rural submarkets separately (Ottawa Rural East, South and West), and Rural East had 7.3 months of inventory in October 2026. (oreb.ca)
- Row houses make up 21.5% of Ottawa households, far above the Ontario share of 3.2%. (www150.statcan.gc.ca)
- Apartments are the weakest segment: the October 2026 apartment benchmark was $377,500, down 5.3% year over year, with 7.4 months of inventory. (oreb.ca)
- Ottawa allows rural homeowners and cottage owners to offer short-term 'cottage rentals' under a separate permit from their principal-residence permit. (ottawa.ca)
Who do we help in Ottawa?
Many Ottawa borrowers have stable government paycheques, but the city also stretches across 2,788 square kilometres of rural land, and farms, acreages, wells and septic systems are harder to finance with A lenders. Condo apartment owners are dealing with the weakest segment of the market, and the City's Vacant Unit Tax can apply to homes left empty for more than 184 days unless an exemption applies. Private and B-lender mortgages work for rural and non-standard properties, estate and renovation situations, and self-employed contractors serving the public sector.
“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“My lender sent a letter. They won't renew.”
What to do in the weeks before maturity.
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“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
Which local rules affect a Ottawa property?
These rules change what a lender will do, or what a sale or rental is worth. We check them on every Ottawa file.
Ontario Land Transfer Tax
Buyers pay Ontario land transfer tax on closing, from 0.5% to 2.5% of the price. First-time buyers can get up to $4,000 back. A refinance does not trigger it. (ontario.ca)
Ottawa Vacant Unit Tax
All Ottawa residential owners must declare occupancy every year; a unit vacant more than 184 days in the previous year is taxed at 1% of assessed value in the first year, rising 1% for each additional consecutive vacant year to a maximum of 5%. (ottawa.ca)
Non-Resident Speculation Tax
Foreign nationals pay an extra 25% when they buy a home anywhere in Ontario. Permanent residents do not. (ontario.ca)
Ottawa short-term rental host permit
A host permit is required to rent your principal residence, or part of it, for less than 30 consecutive nights; rural and cottage properties need a separate cottage-rental permit. (ottawa.ca)
What happens if a Ottawa mortgage goes into default?
In Ontario most lenders use power of sale, which does not need a court order. After 15 days of default the lender can serve a Notice of Sale, and you have at least 35 days to pay what is owed. A private refinance inside that window stops the sale.
Your mortgage is registered electronically in Ottawa-Carleton Land Registry Office No. 4 (LRO 04). FSRA rules mean you get a written disclosure, with the APR, at least two business days before you sign. 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 Ottawa?
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. Written disclosure two business days before you sign.
Money in 5-12 business days. We write down how you get back to a bank.
Which Ottawa neighbourhoods and nearby towns do we cover?
- Centretown
- The Glebe
- Westboro
- Sandy Hill
- Old Ottawa South
- Vanier
- Kanata
- Orleans
- Barrhaven
- Nepean
- Stittsville
- Manotick
We also lend in Gatineau, Clarence-Rockland, Carleton Place, Arnprior, Russell, Kemptville, and anywhere else in Ontario.
Ottawa private mortgage questions
Can I get a private mortgage in Ottawa with bad credit?
Yes. Private lenders in Ottawa 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 Ottawa?
A written commitment usually takes 1-2 business days. The appraisal in Ottawa 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. In Ontario you also get a written disclosure at least two business days before signing.
What does a private second mortgage cost in Ottawa?
Example: a $100,000 second at about 70% combined loan-to-value, at 11.99% 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 $11,990 and fees about $5,750, so the year costs about $17,740, an APR of about 17.7%. Your own numbers come in writing before you commit.
Do I need to visit your office to get a mortgage in Ottawa?
No. Ottawa 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 Ottawa. Our licence in Ontario is with FSRA; you can check it on the regulator's site.
Do private lenders lend on rural Ottawa properties?
Yes, at lower limits. A rural home on a well and septic system usually gets 50-60% of value from private lenders, and the appraisal costs more. Inside the urban area, limits go up to 75%.
Does Ottawa's Vacant Unit Tax affect my mortgage?
Not the mortgage itself, but it adds to your costs. If a home sits empty more than 184 days in a year, the City charges a tax on its assessed value, starting at 1%. Lenders may ask about it if you are refinancing an empty property.
Other cities in Ontario
Sources. www150.statcan.gc.ca · oreb.ca · ottawa.ca · ontario.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