Private mortgage lenders in Toronto: rates, how much you can borrow, and how it works
Rates, how much you can borrow and the Toronto 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 on Toronto condos, houses and multiplexes, from CityPlace and Liberty Village to Scarborough and Etobicoke. In November 2026, private first mortgages in Toronto run about 7.49% to 11.49% and private seconds about 9.49% to 14.99%, 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 Toronto home?
Private lenders look at what your home is worth today and what you already owe. In Toronto 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 Toronto 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 Toronto 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% |
| 75-80% | Not offered here | 13.99-14.99% |
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 Toronto housing market doing, and why does it matter for your loan?
TRREB, City of Toronto MLS HPI benchmark prices, October 2026. (trreb.ca) Lenders lend on the appraised value of your own property, not the area figure.
Toronto prices were down 4-7% on the year in October 2026, and condo apartments fell the most. Almost half of Toronto households live in buildings of five or more storeys, so most files here are condos. A lower appraisal means less room to borrow at renewal. Main local industries: professional and technical services, finance and insurance, health care and retail.
- 46.7% of City of Toronto households live in apartment buildings of five or more storeys, so condo apartments are the most common home type lenders see. (www150.statcan.gc.ca)
- 48.1% of Toronto households rent and 51.9% own, the highest renter share of the cities on this site. (www150.statcan.gc.ca)
- Condo apartments are the weakest segment: the City of Toronto apartment benchmark was $540,100 in October 2026, down 6.97% year over year, which squeezes equity for condo owners refinancing or renewing. (trreb.ca)
- Toronto permits up to four units (duplex, triplex, fourplex) as of right in low-rise residential zones city-wide, plus garden or laneway suites where allowed, which creates multiplex conversion and construction financing needs. (toronto.ca)
- Only 23.3% of City of Toronto households live in single-detached houses, compared with 53.6% across Ontario. (www150.statcan.gc.ca)
Who do we help in Toronto?
Toronto is a condo-heavy, renter-heavy market: almost half of households live in buildings of five or more storeys, and condo apartment values have fallen faster than houses, so owners renewing or refinancing can come up short on equity or debt-service ratios. Investors carrying units whose rent no longer covers costs, and owners behind on payments facing a power-of-sale timeline, often need a short-term private or B-lender mortgage to buy time. Toronto also has a higher self-employed share than Ontario as a whole (16.6% of the CMA labour force), and these borrowers often fail bank income tests. Buyers here also face two land transfer taxes, which adds to the cash needed to close.
“My lender sent a letter. They won't renew.”
What to do in the weeks before maturity.
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 need $120,000 against the house.”
Borrow to 80% combined without touching your first.
How we handle itCheck my options“CRA put a lien on the house.”
The lawyer pays CRA at funding. The lien comes off.
How we handle itCheck my options“The bank said no, but my credit is OK.”
6-8.5% on bank statements, often cheaper than private.
How we handle itCheck my options
Which local rules affect a Toronto property?
These rules change what a lender will do, or what a sale or rental is worth. We check them on every Toronto 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)
Toronto land transfer tax
Toronto buyers pay a second, municipal land transfer tax (0.5% to 2.5% brackets up to $3 million), and higher graduated MLTT rates on high-value one- and two-family homes took effect April 1, 2026. (toronto.ca)
Toronto non-resident tax
Since January 1, 2025 Toronto charges a 10% municipal non-resident speculation tax on top of the MLTT for non-resident buyers of certain residential property. (toronto.ca)
Toronto Vacant Home Tax
Every Toronto residential owner must file an annual occupancy declaration; for the 2026 year the tax is 3% of Current Value Assessment on homes vacant or deemed vacant, and the 2026 declaration is due by April 30, 2027. (toronto.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)
Toronto short-term rental registration
Short-term rental operators must register with the City, may only rent their principal residence, and entire-home rentals are capped at 180 nights per calendar year. (toronto.ca)
What happens if a Toronto 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 Metro Toronto Land Registry Office No. 80 (LRO 80; formerly divisions 64 and 66). 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 Toronto?
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 Toronto neighbourhoods and nearby towns do we cover?
- Downtown / CityPlace
- Liberty Village
- The Annex
- Yorkville
- Leslieville
- The Beaches
- High Park
- The Danforth
- North York Centre
- Willowdale
- Scarborough
- Etobicoke
We also lend in Mississauga, Vaughan, Markham, Richmond Hill, Pickering, and anywhere else in Ontario.
Toronto private mortgage questions
Can I get a private mortgage in Toronto with bad credit?
Yes. Private lenders in Toronto 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 Toronto?
A written commitment usually takes 1-2 business days. The appraisal in Toronto 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 Toronto?
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 Toronto?
No. Toronto 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 Toronto. Our licence in Ontario is with FSRA; you can check it on the regulator's site.
Can I get a private mortgage on a Toronto condo?
Yes. Most private lenders lend on Toronto condos at normal pricing, up to about 75% of value. They read the status certificate and look at the reserve fund and any special assessment. Pre-construction assignments and co-ops are much harder.
Can a private mortgage stop a power of sale in Toronto?
Often, if there is enough equity. After a Notice of Sale you have at least 35 days to pay what is owed. A private refinance that pays the arrears, interest and the lender's costs ends the sale. The sooner you call, the more options you have.
Other cities in Ontario
Sources. www150.statcan.gc.ca · trreb.ca · toronto.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