Short-term, property-secured financing for timing gaps, bank declines, credit recovery, equity access and clearly defined exits. This page explains what lenders review, what it can cost and when another option may fit better.
Prince Edward Island lending context
Prince Edward Island has a small, close-knit property market. Charlottetown and Summerside can support broader lender choice than rural, seasonal or waterfront properties, where comparable sales are limited.
Lenders review appraisal support, year-round access, property condition and the owner's long-term plans — especially for reverse mortgages, where many Island homeowners are 55+ and want to stay in place.
A lender commitment depends on its current policy and review. Provincial licensing identifies who may arrange the mortgage; it does not guarantee that a particular lender serves every community.
Funded · Charlottetown, PE
Self-employed buyers with a plumbing business found a well-priced private sale in the location they wanted — a family home with a detached garage and extra parking for the business. A private mortgage made the quick close possible.
Prateek S. — client · Closed in 7 days · April 2026
Client details anonymized. Rates and terms reflect each file at funding and are not a quote; subject to change and OAC.
Private mortgage PEI examples across Charlottetown, Summerside, Cornwall and Montague — short-term financing with a clear exit.
Example scenario · Stratford, PEI
Situation: Owners buying in Stratford before their Cornwall home sold, with the bank unwilling to bridge.
Structure: Private 1st mortgage at up to 75% LTV, 6-month term, open after 3 months.
Outcome: Purchase closed on time; repaid from the sale proceeds.
Example scenario · Summerside, PEI
Situation: Homeowner in Summerside with CRA arrears and a recent credit drop, declined by the bank.
Structure: Private 2nd mortgage behind the existing first, interest-only, 12-month term.
Outcome: Arrears cleared; plan to refinance with a B-lender once credit recovers.
Example scenario · Montague, PEI
Situation: Seasonal-access property near Montague with few comparable sales.
Structure: Private 1st mortgage at a lower LTV after a full appraisal, 12-month term.
Outcome: Renovation funded; exit is a sale or conventional refinance after the work.
These are illustrative examples, not actual client files or testimonials. Every approval depends on the lender, property and full review.
Serving homeowners across Prince Edward Island, including Charlottetown, Summerside, Stratford, Cornwall, Montague, Kensington, Souris, Alberton.
Borrowers declined under bank policy
Homeowners with equity and an urgent closing
Borrowers repairing credit or income documentation
Buyers bridging a purchase, sale or refinance
Use these confirmed ranges as a starting point, not a quote. Location and marketability can narrow the available lender set.
5.89%–7.99%
Up to 75% LTV
1%–2% lender fee. 6–24 month terms, open after 3 months.
9.24%–12.99%
Up to 80% CLTV
2%–4% lender fee. Interest-only payments.
Prime +2% and up
Up to 80% of net equity
Short-term interest reserve; repaid from the sale of the departing home.
Rates subject to change and OAC approval — contact us to confirm current pricing.
Suitability first
We compare the requested mortgage with lower-cost or lower-risk alternatives. If the term, total cost, property risk or exit does not make sense, the right recommendation may be to wait, restructure or not borrow.
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