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
Equity Calculator
Current LTV: 55.6%
Expert Mortgage FSRA#12079
25+ Years Experience
5,000+ Files Funded
Network of 400+ Lenders
48-Hour Funding Available
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.
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.
| 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.
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.
Where we lend
Funding private mortgages across 40+ Ontario communities..
From the GTA to Niagara, Muskoka and Southwestern Ontario — we lend on urban, suburban, semi-rural and recreational property.
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.
How it works
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.