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Private Mortgages That Meet Your Goals. Get Approved Effortlessly.

Thousands of Canadians get declined by Banks everyday. A Private Mortgage is a great alternative. A Private Mortgage can help you pay off debt, improve credit, purchase your dream home, and more. We offer flexible and low-rate Private Mortgages from 40+ Private Lenders. Join our happy customers and get approved today!

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Effortless approved the mortgage on my first home. Banks declined me twice because of my credit. Effortless helped me become a homeowner when banks said no!

- Amelia N. | Toronto, Ontario

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I was looking to consolidate debt. Effortless got me approved the same day. I reduced my monthly payments by half, and I've seen my credit score going up already.

- Steve H. | London, Ontario

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We couldn't qualify for a mortgage from the banks because we are selfemployed. Effortless gave us a private mortgage right away. Very fast service. Will use them again!

- David & Maggie K. | Thornhill, Ontario

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We got a last minute bank decline on our rental property and Effortless saved the day. As real estate investors, it's important to have a lender who can get us approved quickly!

- Tonya and Paul S.| Ottawa, Ontario

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Direct access to 40+ Private Lenders in Ontario. No Middle Man. No Hidden Fees.

  • We are Direct-to-Consumer with lowest rates and cheaper fees.
  • We are fully online and have less costs, which means more saving goes to you.
  • Best options from 40+ best private mortgage lenders
  • Transparent with no hidden fees
  • Fast approval within hours
Access 40+ Private Lenders Now

Here are the benefits of getting a Private Mortgage with us

We believe all hard-working Canadians deserve the opportunity to get a mortgage. Many lenders try to fit borrowers into a (mortgage) box. Life is complicated. That's why we offer flexible private mortgages that are tailored to your needs - what ever they may be!

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Consolidate Debt and Repair Bad Credit

Bad Credit? Consumer Proposal? Bankruptcy? Private Lenders accept all credit types. You can use a Private 1st or 2nd Mortgage to consolidate debt and reduce monthly payments. Our private mortgage can help you get debt free faster and repair your credit.

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Fast Equity Take Out Up To 85% of Home Value

Are you a homeowner with equity in your home? You can borrow up to 85% of your home value. A private mortgage or 2nd mortgage is a great alternative when you are declined by the banks. Talk to us to get approved in hours with low rates!

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Interest Only and Flexible Terms

We offer interest only payment option to reduce your monthly payments and increase your cash flow. Whether you are looking for a mortgage for 6 months or 5 years, we have a solution for you. We have both open and closed terms to suit your specific needs.

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Easy Process No Income Doc Needed

Whether you are a contractor with seasonal income, a business owner who keeps money in the company, temporarily unemployed, or have foreign income, you can get approved. A Private Mortgage doesn't require income verification. Apply online or call us to qualify.

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Getting A Private Mortgage Is Simple

Apply Online Or Call Us
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Direct-to-Consumer Low Rates. Simple Process. Fast Approvals.

It takes less than 1 minute to fill out our secured online app. Get approved with the lowest Private 1st and 2nd Mortgage Rates Today!

  • Private 1st Mortgages Start at 4.99%
  • Private 2nd Mortgages Start at 6.99%
  • Fast Approval within Hours
  • No Income Verification
  • Bad Credit is Ok
  • Lender Fees Depend on Your Specific Situation
Apply Now
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10 Ways A Private Mortgage Can Help You Meet Your Financial Goals

Private 1st and 2nd Mortgages are the fastest and easiest ways to take out up to 85% of home equity. They not only are great solutions if you have bad credit, but also can help you meet your other life goals.

Our experienced mortgage advisors have helped countless happy customers. No matter what your situation is, we can get you approved fast with the lowest rates.

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Recover from bankruptcy
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Pay off credit card debt
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Reduce monthly payments
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Purchase a car
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Investment opportunities
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Lower interest costs
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Home renovations
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Support your business needs
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Fund your education
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Use it as a bridge loan
Book a Free Consultation Today

Private Mortgage Frequently Asked Questions (FAQ's)

How to qualify for a private mortgage?
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To qualify for a private mortgage, you have to have at least 15% - 20% of down payment or home equity. Here's how it works:

  • Fill out an application or call us at (888) 978 4984
  • We will let you know the mortgage amount and interest rate you can qualify for
  • We will then get an appraisal report on the property
  • If there is no red flag on the appraisal report, you are all set to receive funding
  • The whole process usually takes no more than a few days
Can I get a Private Mortgage if I am self-employed?
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Absolutely! You can qualify for a private mortgage even if you haven't filed your taxes or have a lot of your income in cash. Private Lenders do not verify your income. You can get approved as long as there's enough equity in the property. Book a free consultation today to find out how much you can qualify!

Can I get a Private Mortgage with a 500 credit score?
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Yes! Private lenders will consider credit scores 500 or below. As long as the property is in a good condition and in a marketable area, you can get approved for a mortgage. See more advice on Bad Credit Mortgage in this article.

Can I qualify for a private mortgage after a consumer proposal?
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Yes! Private Lenders can give you a mortgage even if you are still in a consumer proposal. Lenders usually would like to see 2 years of credit history after you pay off your consumer proposal. That's not the case with Private Lenders in Ontario. As long as you have enough down payment or home equity, you can get approved for a private mortgage.

Can I qualify for a private mortgage after a bankruptcy?
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Yes! However, if the bankruptcy happened in the last two years, your private mortgage interest rate will be relatively high. To get a lower interest rate, you can start applying for a mortgage 2 years after you are discharged from bankruptcy. That's usually how long it takes to rebuild your credit if you can stay on top of your debt obligations.

What are the closing costs for a private mortgage?
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The main closing costs include an appraisal, lawyer fee, and lender fee:

  • An Appraisal Report costs between $300 to $500
  • Lawyer Fee ranges between $1,000 to $2,000 depending on the complexity of your deal
  • Lender Fee ranges between 1%-3%. If you have enough equity in your home, you may be able to include the Lender Fee into the mortgage, so you don't have to pay for it up front.
What is the difference between a Private 1st and 2nd Mortgage?
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A Private 1st Mortgage is usually for homebuyers who need a mortgage to purchase a home. However, a Private 1st Mortgage can also use to consolidate multiple mortgages on a property into 1 mortgage to save interest costs. A Private 2nd Mortgage is for homeowners who already have a mortgage and need additional funds.

A Private 1st Mortgage usually has lower interest rates than a Private 2nd Mortgage. However, it all depends on how much equity is in the home. For example, to purchase a $500,000 property, you will get a lower interest rate by having $150,000 down payment compared to $100,000 down payment.

Do I need to pay both interest and principal on a Private Mortgage?
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Most private mortgages are interest-only. It means you only need to pay the interest portion every month. As long as you are up-to-date with your mortgage payments and real estate market stays stable, you have the option to renewal a Private Mortgage every year. The principal amount is due when you can refinance your mortgage back to the banks or when you are able to sell. By only requiring the interest payment, Private Mortgage can help you to significantly reduce your monthly cash flow.

More Questions? Contact Us
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