A private mortgage is a short-term loan secured against real estate, funded by private investors or Mortgage Investment Corporations (MICs) — not traditional banks.
Approval in Richmond Hill is primarily equity-based — your property's value matters more than your credit score. Private mortgages are bridge solutions: get funded fast, stabilize, then transition to an A-lender at lower rates.
Full Private Mortgage GuideBanks said no in Richmond Hill? Bruised credit, irregular income, or unusual property type — private lenders focus on equity, not paperwork imperfections.
Closing on your new Richmond Hill home before your current one sells? A bridge loan covers the gap for 1–6 months.
Tax-optimized returns showing low income hurt bank applications. Private lenders in Richmond Hill accept bank statements and business revenue.
Move faster than banks on Richmond Hill investment properties, renovations, or flips. Draw-based funding available for construction.
Use a private second mortgage to consolidate high-interest cards and unsecured debt into one lower payment.
Facing power of sale in Richmond Hill? A private mortgage can stop proceedings, pay arrears, and buy you time.
Tell us about your Richmond Hill property, equity, and timeline. No hard credit pull, no obligation.
We assess your property value, existing mortgage, and available equity via AVM or appraisal.
We shop your file across 50+ private lenders to find the best rate, terms, and lowest fees.
Clear term sheet with rate, fees, and conditions. Lawyer registers the mortgage on title.
Funds advanced to you or your lawyer's trust. From first call to funded in as little as 5 business days.
Private mortgage qualification is fundamentally different from banks. Key factors:
lendsimpl shops 50+ lenders for the lowest rate. All rates subject to property, equity, and lender approval.
Rates shown are indicative as of March 2026. Contact lendsimpl for a personalized Richmond Hill quote. FSRA Brokerage #13763.
A private mortgage in Richmond Hill 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 Richmond Hill typically close in 5–10 business days.
Borrowers in Richmond Hill 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 15–25%+ required.
Private mortgage rates in Richmond Hill typically range from 8% to 14%+ per year depending on LTV, property type, and mortgage position (first vs second). Lender fees are 1–3%. lendsimpl shops 50+ private lenders to find the lowest rate for your Richmond Hill property.
Private mortgages in Richmond Hill can close within 5–10 business days, sometimes faster. This speed makes them ideal for purchases with tight deadlines, bridge financing, or when bank timelines cannot be met.
No. lendsimpl's private mortgage services are compensated by the lender on most placements — not by you. $0 broker fee, free consultation, no hard credit pull to start. FSRA Brokerage #13763 serving all of Ontario including Richmond Hill.
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