Private Mortgages in Canada:
Get Approved Fast with Inbudget Mortgage
Not everyone qualifies for traditional bank mortgages. If you’re self-employed, have bruised credit, or need funds quickly, a private mortgage might be your best option.
At Inbudget Mortgage, we help Canadians get approved for private mortgages when banks say no—offering quick access to funds with minimal hassle and flexible terms.
What Is a Private Mortgage?
A private mortgage is a home loan funded by individual investors or private lending companies, not traditional banks or credit unions. These lenders focus less on credit scores and more on property value and equity.
Private mortgages are ideal for:
Self-employed or gig workers with non-traditional income
Clients with poor credit or a recent bankruptcy
People needing fast short-term financing
Homeowners looking to access equity for renovations or debt consolidation
Real estate investors needing bridge loans or second mortgages
Key Benefits of a Private Mortgage
✅ Fast Approval & Funding – Often within 48–72 hours
✅ Credit Score Isn’t Everything – Approval is based more on your property’s equity
✅ Short-Term Flexibility – Ideal for 6–24 month terms with interest-only payments
✅ Use Equity for Any Purpose – Renovations, debt payoff, taxes, business funding
How Inbudget Mortgage Makes Private Lending Easy
We’re connected with trusted private lenders across Canada and help you navigate the process with confidence.
🛠 What We Offer:
Access to first & second mortgages through private lenders
Competitive rates based on property type, location, and equity
Transparent fees, no hidden costs
Expert guidance on exit strategies (refinance or sale)
Customized solutions even for bad credit and urgent funding needs
Common Private Mortgage Scenarios
🔸 Self-Employed with Low Reported Income
You have the cash flow, but can’t prove it the bank’s way? A private lender looks at your home’s equity instead of income tax returns.
🔸 Mortgage Declined by Bank Due to Credit
If your bank denied you due to past credit issues, a private mortgage gives you a second chance.
🔸 Need Funds Fast for Renovations or Investments
Private mortgages are ideal for homeowners needing quick cash without traditional red tape.
Private Mortgage Costs: What to Expect
While private mortgages typically have higher interest rates (8–12%) and shorter terms, they provide unmatched flexibility and speed. We always break down the full cost and help you compare options.
Typical Costs Include:
Interest-only payments
Lender & broker fees (disclosed upfront)
Legal fees and property appraisal
🧮 Free Tools for Mortgages
💼 Why Homeowners in Ontario Choose:
InBudget Mortgage for Private Mortgages
✔️ Access to top-tier banks, B-lenders, and private lenders
✔️ Experience with high-value and investment properties
✔️ Trusted by families, professionals, and newcomers
✔️ Licensed mortgage brokers with Ontario wide experience
✔️ We compare 50+ lenders (banks, B-lenders, and private options)
✔️ Easy application, fast approvals, and full support
👉 Ready to Apply for a Private Mortgage?
If you’ve been turned away by banks or need fast financing, Inbudget Mortgage can help you access the funds you need—without judgment or delays.
“Want to find out if private mortgage is good fit for your current situation?”
Learn what you qualify for and how to move forward with confidence.
Frequently Asked Questions: Private Mortgages in Canada
🔹 What is a private mortgage?
A private mortgage is a home loan provided by an individual lender or private lending company, rather than a traditional bank. It’s often used by borrowers who don’t qualify under standard mortgage rules due to credit issues, income verification challenges, or urgent funding needs.
🔹 Who should consider a private mortgage?
You may want to consider a private mortgage if you are:
Self-employed with non-traditional income
Facing bad credit or a recent bankruptcy
In need of fast funding (24–72 hours)
Unable to qualify through traditional lenders
Looking for a second mortgage or bridge financing
🔹 Are private mortgage interest rates higher?
Yes, private mortgage rates are typically higher than bank mortgage rates—often ranging from 8% to 14%, depending on risk, loan type, and equity. This is because private lenders take on more risk and provide quicker access to funds with fewer conditions.
🔹 How fast can I get approved for a private mortgage?
At Inbudget Mortgage, we can often secure private mortgage approvals within 24–48 hours after receiving the required documents. Funding usually follows within a few business days, depending on property appraisals and legal processing.
🔹 Will applying for a private mortgage affect my credit?
No, applying for a private mortgage with Inbudget typically does not impact your credit score, as most private lenders rely on soft checks or only require a full credit pull after conditional approval. We also work with borrowers who have past credit issues.
🔹 Can I refinance or exit a private mortgage later?
Yes. Private mortgages are usually short-term (6 to 24 months). Many borrowers use them as bridge loans and then refinance into a lower-rate traditional mortgage once their credit or income situation improves. Inbudget helps you plan for that exit strategy from day one.
🔹 What documents do I need to apply?
Typical documents include:
Property details (address, value, mortgage balance)
Government-issued ID
Proof of homeownership (title or property tax bill)
Income details (if applicable)
Explanation of your funding need (e.g., debt consolidation, renovation, etc.)
🔹 Can I get a private mortgage with bad credit?
Yes, absolutely. One of the biggest advantages of private mortgages is that credit score is not the main factor. If you have enough equity in your home and a clear repayment plan, Inbudget Mortgage can help get you approved—even with poor credit or past bankruptcies.