In Ontario’s fast-paced real estate and lending environment, traditional banks are no longer the only — or the best — source of financing. Increasingly, homeowners and investors are turning to private mortgage lenders for speed, flexibility, and solutions that work when the banks say “no.”
Whether you’re facing a time-sensitive purchase, need to consolidate debt, or want to access your equity for renovations or investment, private mortgages offer a lifeline. And when it comes to choosing the right private lender, BestRefinance.ca stands out as Ontario’s most reliable, transparent, and solution-focused private lending platform for 1st, 2nd, and even 3rd mortgages.
What Is a Private Mortgage?
A private mortgage is a loan secured against real estate that is funded by a private individual or company, rather than a traditional financial institution like a bank or credit union. These lenders evaluate borrowers based on equity and asset value, not just credit score or income.
This is what makes private mortgages especially useful for:
• Homeowners with bruised credit or low-income documentation
• Investors or self-employed individuals with non-traditional income
• People in urgent financial situations, such as arrears, power of sale, or legal issues
• Those who need 2nd or 3rd mortgages to access more equity when their 1st mortgage is locked in
The Limitations of Traditional Banks
Traditional banks in Ontario follow rigid guidelines under federal regulation, including the mortgage stress test, which disqualifies many otherwise responsible homeowners.
They typically:
• Reject applicants with credit scores under 600
• Require full income verification (T4s, NOAs, pay stubs)
• Take weeks to process applications
• Avoid lending in situations involving arrears, CRA liens, or legal action
This leaves thousands of Ontarians without access to their own home equity — trapped in financial limbo when they need immediate help. That’s where private lending comes in.
Why Ontario Homeowners Choose Private Mortgages
Ontario is one of Canada’s most equity-rich provinces, with home values that have appreciated substantially in the past decade. This creates a unique opportunity for borrowers: the ability to tap into home equity fast, without jumping through bureaucratic hoops.
Here are some of the top reasons Ontarians use private mortgages:
• Debt consolidation (credit cards, collections, payday loans)
• Stopping power of sale
• Funding major renovations or home improvements
• Paying CRA or legal obligations
• Bridge financing between home purchases
• Business investment or self-employed cash flow solutions
Private mortgage lenders Ontario usually fund deals within 3 to 7 days, with a focus on property value and loan-to-value (LTV) rather than credit history or employment.
Understanding 1st, 2nd, and 3rd Mortgages
Before choosing a lender, it’s important to understand what kind of mortgage you need.
1st Mortgage
This is the primary mortgage on a property. If you own your home outright or are refinancing your first mortgage, a private 1st mortgage may be suitable if the bank is unwilling to lend due to credit, income, or other challenges.
2nd Mortgage
A second mortgage sits behind your existing first mortgage, typically to unlock home equity without touching your first loan. It’s commonly used for:
• Renovations
• Emergency debt relief
• Paying off high-interest consumer debt
3rd Mortgage
A third mortgage is rarer and more specialized, usually used in high-equity situations where both the 1st and 2nd mortgages are already in place. It can help:
• Pay legal fees or unexpected taxes
• Fund time-sensitive opportunities
• Resolve power of sale actions where other options are exhausted
Not all private lenders offer 3rd mortgages due to risk, but BestRefinance.ca has specialized programs for such cases.
Why BestRefinance.ca Is Ontario’s #1 Source for Private Mortgages
With dozens of private lenders in the province, what makes BestRefinance.ca different?
1. We Specialize in Private Lending — It’s Not an Afterthought
Unlike brokers who treat private mortgages as a last resort, private lending is our core business. Our deep expertise allows us to underwrite complex files with speed and confidence — and close fast.
We work with a trusted network of private lenders and investors across Ontario, enabling us to fund:
• 1st mortgages up to 80% LTV
• 2nd mortgages up to 85% LTV
• 3rd mortgages on a case-by-case basis, depending on equity position
2. Lightning-Fast Turnaround
At BestRefinance.ca, we understand that time is money. Most of our clients are in time-sensitive situations — dealing with arrears, legal letters, or opportunities they can’t miss.
• Approvals in 24–48 hours
• Closings in as little as 3–5 business days
• Direct communication with decision-makers — no call centres or runaround
3. No Credit? No Problem.
We routinely approve borrowers with:
• Credit scores in the 400s
• Collections, bankruptcies, or consumer proposals
• Missed payments or judgments
We focus on equity, exit strategy, and property condition, not your past mistakes.
4. Transparent Fees and Clear Terms
Private lending doesn’t have to mean hidden fees or predatory terms. We offer:
• Fixed interest rates and no surprise charges
• Written and verbal disclosure of all costs
• Straightforward legal documents and full transparency
Our clients know what they’re getting — and what their obligations are — from day one.
5. Customized Mortgage Structures
Every deal is different. That’s why we don’t use cookie-cutter terms. We offer:
• Prepaid interest options to ease cash flow
• Open, semi-open, or short-term closed options
• Interest-only payments for lower monthly burden
• Flexible repayment and renewal terms
If you need creative structuring or blended payment solutions, BestRefinance.ca will design a deal around your needs — not force you into a box.
Real Clients. Real Results.
We’ve helped hundreds of Ontario homeowners and investors unlock equity and avoid financial catastrophe:
• A self-employed couple in Brampton with CRA arrears and 500 credit score received a 2nd mortgage in 5 days to stop power of sale.
• A homeowner in Scarborough took a $250K 3rd mortgage to resolve legal debts and save their property from foreclosure.
• A first-time investor in Hamilton accessed a private 1st mortgage at 80% LTV, bypassing the stress test and buying a duplex with no delays.
Is a Private Mortgage Right for You?
Private lending is not for everyone — it’s short-term and solution-focused, designed to help clients who:
• Are planning to sell or refinance within 6–18 months
• Need urgent access to cash
• Are shut out by traditional banks
• Have a clear exit strategy, such as sale, refinance, or inheritance
If you’re trying to hold a mortgage for 5–10 years, you may be better off working toward traditional financing. But if you’re facing pressure now and sitting on equity, a private mortgage from BestRefinance.ca could be your smartest move.
Ready to Take Action?
If you’re an Ontario homeowner who:
• Can’t qualify at the bank
• Has equity in your home
• Needs fast financing without judgment
Then BestRefinance.ca is your go-to source for 1st, 2nd, or 3rd private mortgages. We serve clients across the GTA and Ontario with honesty, urgency, and experience.
No runaround. No red tape. Just results.
Visit BestRefinance.ca or call us today for a confidential assessment.
BestRefinance.ca — Ontario’s Most Trusted Name in Private Lending.
About Private Lenders Ontario – Expert:
Private Lenders Ontario – Expert is a division of Expert Mortgage, offering private mortgage solutions throughout Ontario. The company connects borrowers with one of the province’s largest private lending networks, focusing on fast, confidential, and accessible financing options for those who do not meet conventional lending criteria. With a reputation for transparency and a commitment to helping clients move forward, the firm continues to provide trusted alternatives in a changing lending environment.
Disclaimer: This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.
Media ContactCompany Name: Private Mortgage Lenders – ExpertContact Person: Victor KaushalEmail: Send EmailPhone: +1 800-513-6469Address:331B Wallace Ave City: TorontoState: ON M6P 3P2Country: CanadaWebsite: https://bestrefinance.ca/private-mortgage-lenders/
