Question 1

What are private first mortgage rates?

Accepted Answer

Rates start at 5.99% per annum, plus applicable borrowing costs.

Question 2

How fast can a first mortgage close?

Accepted Answer

Typically within 10–15 business days.

Question 3

What are second mortgage rates?

Accepted Answer

Rates start at 9.99% per annum, plus applicable fees.

Question 4

Can I use a second mortgage for debt consolidation?

Accepted Answer

Yes — many clients use them to consolidate higher-interest loans.

Question 5

Can I get a private mortgage for my business property?

Accepted Answer

Yes — financing is available for commercial and mixed-use properties.

Question 6

What is the typical loan size for commercial bridge financing?

Accepted Answer

$500K to $5MM, depending on property value and equity.

Question 7

Do I need tax returns to qualify?

Accepted Answer

No — approvals are based on equity, not income documents.

Question 8

Can I clear CRA tax arrears with a mortgage?

Accepted Answer

Yes — funds can be used to pay outstanding tax balances.

Question 9

Can seniors qualify for private mortgages?

Accepted Answer

Yes — up to 50% of the home's value, often with no monthly payments.

Question 10

What are the terms for senior financing?

Accepted Answer

1–5 year terms, with flexible repayment options.

Frequently Asked Questions

First Mortgages