Private Mortgage in Ottawa When Banks Say No

A private mortgage in Ottawa is a short-term loan secured against real estate, funded by private investors rather than banks. Approval is primarily equity-based; your property's value matters more than your credit score. Private mortgages in Ottawa can often close in 3 to 10 business days once documents are complete.

Borrowers in Ottawa who have been declined by banks, have bruised credit, are self-employed, need bridge financing, or require fast funding can qualify. The primary qualification factor is your property's equity, typically 15 to 25% or more is required.

Private mortgage rates depend on LTV, property type, and mortgage position (first vs second). See the rate comparison above for current pricing. Lender fees typically run 1 to 2% of the loan amount, though some files carry more, and every fee is disclosed in writing before you proceed.

Private mortgages in Ottawa can often close within 3 to 10 business days once documents are complete. This speed makes them ideal for purchases with tight deadlines, bridge financing, or when bank timelines cannot be met.

All applicable fees are disclosed in writing before you proceed, as required by FSRA regulations. FSRA Brokerage #13763 serving all of Ontario including Ottawa.