Unlock up to 80% of your home's equity — even with bad credit.
Best Refinance arranges second mortgages, home equity loans and private mortgage financing across Ontario. Approvals in 24 hours, funding in as little as 48. FSRA-licensed. 25+ years of experience.
Estimate based on 80% LTV. Final amount subject to appraisal & underwriting.
Private Mortgage Lenders · Serving Ontario
Unlock up to 80% of your home's equity — even with bad credit.
BestRefinance.ca (Expert Mortgage, FSRA#12079) arranges second mortgages, home equity loans and private mortgage financing across Ontario. Approvals in 24 hours, funding in as little as 48. 25+ years of experience · 400+ lender network.
48 hrs
Fastest Funding
80%
Max Ltv
4.9★
Client Rating
Estimate based on 80% LTV. Final amount subject to appraisal & underwriting.
Expert Mortgage FSRA#12079
25+ Years Experience
5,000+ Files Funded
Network of 400+ Lenders
48-Hour Funding Available
Private mortgage solutions, engineered around your equity.
Best Refinance specializes in alternative and private lending for Ontario homeowners who have been declined by banks. We use the equity in your home — not just your credit score — to deliver a fast, transparent approval.
Home Equity Loans
Tap up to 80% of your home's value. Lump-sum financing for renovations, tuition, business capital or debt consolidation.
Second Mortgages
Keep your low-rate first mortgage in place. Access equity through a separate loan secured behind your primary lender.
Bad Credit Mortgage
Approval based on home equity — not credit score. Solutions for scores under 500, collections, CRA arrears, or recent proposals.
Debt Consolidation
Roll high-interest credit cards, auto loans and lines of credit into one lower monthly payment secured against your home.
Mortgage Refinancing
Renew or refinance up to 80% LTV. We shop the largest network of A, B, and private lenders in Canada.
Private Mortgage Lenders
Direct access to our in-house lending arm plus a curated network of FSRA-licensed private lenders across Ontario.
What We Do
Private mortgage solutions, engineered around your equity.
BestRefinance.ca specializes in alternative and private lending for Ontario homeowners who have been declined by banks. We use the equity in your home — not just your credit score — to deliver a fast, transparent approval.
How private 2nd mortgages stack up.
Private mortgage rates run higher than banks but dramatically lower than credit cards. For homeowners consolidating $40k+ in unsecured debt, the math is unambiguous — and the speed (48-hour funding vs. 6-week bank timelines) often matters more than the rate itself.
- Banks decline ~38% of self-employed Ontario applicants — private lenders look at equity, not T4s.
- Average Best Refinance client saves $1,160/month by consolidating into a 2nd mortgage.
- Typical exit strategy: 12-month term, then refinance to A-lender once credit is rehabilitated.
Ontario Mortgage Rates — Lender Comparison
| Lender Type | Typical Rate | Max LTV | Approval Time | Bad Credit OK? |
|---|---|---|---|---|
| Big-6 Bank HELOC | ~7.20% (Prime + 0.50%) | 65% | 2–6 weeks | No |
| Credit Union 1st | 5.49%–6.49% | 80% | 1–3 weeks | Limited |
| B-Lender 2nd | 8.99%–10.99% | 80% | 5–10 days | Some |
| Best Refinance Private 2nd | 9.99%–12.99% | 80% | 48 hrs – 7 days | Yes |
| Credit Card / LOC | 19.99%–24.99% | n/a (unsecured) | Instant | Sometimes |
Rates indicative only. Subject to property, location, equity position & exit strategy. O.A.C.
Rates & comparison
How private 2nd mortgages stack up.
Private mortgage rates run higher than banks but dramatically lower than credit cards. For homeowners consolidating $40k+ in unsecured debt, the math is unambiguous — and the speed (48-hour funding vs. 6-week bank timelines) often matters more than the rate itself.
Banks decline ~38% of self-employed Ontario applicants — private lenders look at equity, not T4s.
Average Best Refinance client saves $1,160/month by consolidating into a 2nd mortgage.
Typical exit strategy: 12-month term, then refinance to A-lender once credit is rehabilitated.
| Lender Type | Typical Rate | Max LTV | Approval Time | Bad Credit OK? |
|---|---|---|---|---|
| Big-6 Bank HELOC | ~Prime + 0.50% | 65% | 2–6 weeks | No |
| Credit Union 1st | 5.49%–6.49% | 80% | 1–3 weeks | Limited |
| B-Lender 2nd | 8.99%–10.99% | 80% | 5–10 days | Some |
| BestRefinance.ca Private 2nd | 9.99%–12.99% | 80% | 48 hrs – 7 days | Yes |
| Credit Card / LOC | 19.99%–24.99% | n/a (unsecured) | Instant | Sometimes |
| Lender Type | Typical Rate | Max LTV | Approval Time | Bad Credit OK? |
|---|---|---|---|---|
| Big-6 Bank HELOC | ~Prime + 0.50% | 65% | 2–6 weeks | No |
| Credit Union 1st | 5.49%–6.49% | 80% | 1–3 weeks | Limited |
| B-Lender 2nd | 8.99%–10.99% | 80% | 5–10 days | Some |
| BestRefinance.ca Private 2nd | 9.99%–12.99% | 80% | 48 hrs – 7 days | Yes |
| Credit Card / LOC | 19.99%–24.99% | n/a (unsecured) | Instant | Sometimes |
Rates indicative only. Subject to property, location, equity position & exit strategy. O.A.C.
From application to funded in under 7 days.
A streamlined process that respects your time. Every step is handled by a dedicated mortgage agent — never a call-center.
Apply in 4 minutes
Submit the secure form below or call us directly. We need only basic property and mortgage details — no credit pull at this stage.
Review your offer
Within 24 hours you receive a written commitment outlining loan amount, rate, term, fees and a clear repayment plan.
Sign & fund
Meet your real-estate lawyer, sign documents and receive funds — typically within 3–7 business days of the initial application.
Typical funding timeline (business days)
Average timeline across thousands of Ontario files closed.
How it works
From application to funded in under 7 days.
A streamlined process that respects your time. Every step is handled by a dedicated mortgage agent — never a call-centre.
01
Apply in 4 minutes
Submit the secure form below or call us directly. We need only basic property and mortgage details — no credit pull at this stage.
02
Review your offer
Within 24 hours you receive a written commitment outlining loan amount, rate, term, fees and a clear repayment plan.
03
Sign & fund
Meet your real-estate lawyer, sign documents and receive funds — typically within 3–7 business days of the initial application.
Typical funding timeline (business days)
Average timeline across thousands of Ontario files closed.
Real client: $1,160/month saved.
A self-employed homeowner in Mississauga rolled $62,000 of credit card debt into a $75,000 second mortgage at 9.99%. Monthly debt-service dropped from $2,840 to $1,680 — a 41% reduction — while preserving cash flow to rebuild credit.
Monthly payment — before vs. after
All consumer debt vs. consolidated 2nd mortgage @ 9.99%, 30-yr amortization, 12-mo term.
Debt consolidation case study
Real client: $1,160/month saved.
A self-employed homeowner in Mississauga rolled $62,000 of credit card debt into a $75,000 second mortgage at 9.99%. Monthly debt-service dropped from $2,840 to $1,680 — a 41% reduction — while preserving cash flow to rebuild credit.
$62,000
Debt consolidated
41%
Lower monthly cost
11 mo
Credit score rebuilt to A
Monthly payment — before vs. after
All consumer debt vs. consolidated 2nd mortgage @ 9.99%, 30-yr amortization, 12-mo term.
Funding private mortgages in every corner of Ontario.
From the GTA to Northern Ontario, we have funded properties in 200+ Ontario municipalities. Urban, suburban, semi-rural and recreational property — we lend on it all.
Where we lend
Funding private mortgages in every corner of Ontario.
From the GTA to Northern Ontario, we have funded properties in 200+ Ontario municipalities. Urban, suburban, semi-rural and recreational property — we lend on it all.
Head Office
3880 Duke of York Blvd
Mississauga, ON L5B 4M7
416-895-6074 · victor@bestrefinance.ca
Twenty-five years. Five thousand families.
"Victor negotiated our mortgage rate down by almost half of what our bank had posted at the branch. Funded in 5 days."
"Approved when three banks declined us — equity was there but credit wasn't. Lifesaver during a tough year."
"Consolidated $58k of credit card debt into one payment. Our cash flow doubled overnight."
Client stories
Twenty-five years. Five thousand families.
“Victor negotiated our mortgage rate down by almost half of what our bank had posted at the branch. Funded in 5 days.”
“Approved when three banks declined us — equity was there but credit wasn’t. Lifesaver during a tough year.”
“Consolidated $58k of credit card debt into one payment. Our cash flow doubled overnight.”
Everything you need to know about private mortgages in Ontario.
Frequently asked
Everything you need to know about private mortgages in Ontario.
What is a private mortgage lender in Ontario?
A private mortgage lender in Ontario is a non-bank lender (individual investor, Mortgage Investment Corporation, or syndicated fund) regulated by FSRA. Approval is based on property equity rather than credit score.
How much can I borrow with a second mortgage in Ontario?
BestRefinance.ca and most Ontario private lenders finance up to 80% of your home’s appraised value (LTV), minus your first mortgage balance. Example: on a $900,000 home with a $500,000 first mortgage, you can typically access roughly $220,000.
What are current second mortgage rates in Ontario?
Ontario second mortgage rates from private lenders typically range from 7.99% to 12.99%, depending on LTV, property location and exit strategy. Fees usually add 1%–3%.
Do private lenders check credit?
Yes — a credit report is pulled, but the score is not the primary qualifier. Approval is based on equity, marketability and exit strategy.
How fast can I close a home equity loan?
3–7 business days for standard files. Urgent files can fund in as little as 48 hours when appraisal and lawyer availability allow.
Can I get a second mortgage with bad credit in Ontario?
Yes. We routinely arrange second mortgages for Ontario homeowners with scores below 500, active collections, CRA arrears, or recent consumer proposals.
What fees should I expect on a private mortgage?
Typical costs: lender fee 1%–3%, broker fee 1%–2%, appraisal $350–$600, legal $1,200–$2,000. All disclosed in writing in the commitment letter before signing.
Is a private mortgage safe?
When arranged through a FSRA-licensed brokerage like Expert Mortgage (FSRA#12079), private mortgages are governed by the same Ontario Mortgages Act protections as bank mortgages.
Get your private mortgage quote — no credit pull required.
Tell us a bit about your property. A FSRA-licensed mortgage agent (Victor Kaushal) will personally review your file and call you within one business day with a written offer.
- No upfront fees — pay only at closing
- Soft eligibility check, no impact to credit
- Direct line to a licensed agent — never a call-centre
- Information kept private & PIPEDA-compliant
Get your private mortgage quote — no credit pull required.
Tell us a bit about your property. A licensed mortgage agent (Victor Kaushal — Expert Mortgage FSRA#12079) will personally review your file and call you within one business day with a written offer.
No upfront fees — pay only at closing
Soft eligibility check, no impact to credit
Direct line to a licensed agent — never a call-centre
Information kept private & PIPEDA-compliant
Ontario’s trusted private mortgage broker for second mortgages, home equity loans & bad-credit refinancing. 25+ years of experience · 400+ lender network.
Services