Borrower overview / Private mortgage financing
Get a clear private mortgage answer before your deadline.
If a bank timeline, renewal problem, closing date, debt pressure, or equity need has you looking at private money, FairLend helps you understand what can work, what it may cost, and how you get back out.
- 01Can it work?
- 02What will it cost?
- 03How fast can it close?
- 04How do I get out?
Live file / start here
Start with the situation. Approximate answers are enough, and no documents are needed right now.
Quick answer
What is a private mortgage in Ontario?
A private mortgage in Ontario is real-estate-secured financing provided by an individual or non-bank lender instead of a bank, credit union, trust company, or monoline lender. Approval usually puts more weight on property value, equity, loan-to-value, location, and a credible exit than on conventional income or credit rules. Borrowers commonly use it for time-sensitive purchases, bridge gaps, renovations, construction, arrears, renewals, or situations that do not fit institutional policy. This flexibility typically comes with higher interest, lender fees, brokerage, legal, and appraisal costs, shorter terms, and greater renewal or enforcement risk. A proper review should compare the total dollar cost—not only the rate—and document the term, payment structure, prepayment terms, default charges, conditions, and exit plan. Availability and pricing depend on underwriting, property value, borrower capacity, market conditions, and lender capital; approval and funding are never guaranteed.
| Factor | Private mortgage | Institutional mortgage |
|---|---|---|
| Primary review | Property value, equity, location, and exit | Income, credit, debt service, and property |
| Typical term | Usually shorter and exit-driven | Often longer and renewal-driven |
| Cost profile | Typically higher rate and fees | Typically lower cost when policy is met |
| Best fit | Time-sensitive or non-standard files | Borrowers who meet conventional policy |
Incoming case signals
What forced the decision?
Timing, documentation, credit, income, equity, or file complexity can push you outside a conventional bank process. The question is whether the cost, term, risk, and exit plan fit the reason you need financing.
- 01
“My renewal is coming up”
Renewal pressure
A maturity date is close and the bank answer is not ready yet. The review starts with the term, cost, and a credible route back to cheaper financing.
Review focusTerm cost + refinance path
- 02
“I have a fixed closing date”
Closing deadline
A purchase, sale, refinance, or private payout has a hard date. FairLend checks whether the money can close on time and how it gets repaid.
Review focusRepayment event + deadline
- 03
“My payments are scattered”
Debt consolidation
High-interest debt, tax arrears, or scattered payments may be consolidated when equity, capacity, fees, and the exit path support it.
Review focusEquity + total cost
- 04
“I need to access equity”
Equity access
If the bank process is too slow or too rigid, FairLend reviews whether the requested amount, available equity, payment capacity, costs, and exit align.
Review focusEquity + amount needed
- 05
“I need short-term bridge money”
Bridge financing
Bridge financing can help when one transaction depends on another. The key question is whether the repayment event is real and timed properly.
Review focusBridge amount + repayment event
- 06
“I need capital behind my first”
Second mortgage
A second mortgage can solve a specific need when the valuation, current mortgage position, payment plan, and exit make the added risk workable.
Review focusPosition + payment plan
- 07
“The bank said no”
Bank decline
Bruised credit or non-traditional income is not an automatic no. The review still needs a current valuation, clear mortgage position, documentation, capacity, and a realistic exit.
Review focusDocuments + mortgage position
- 08
“I already have private money”
Existing private mortgage
An existing private mortgage can be reviewed for payout rights, renewal pressure, fee exposure, maturity plan, and whether a better structure exists.
Review focusPayout rights + maturity plan
What FairLend reviewsUsed together to give you a practical private mortgage answer.
- 01Current valuation
- 02Available equity
- 03Amount needed
- 04Deadline
- 05Current mortgage
- 06Exit path
No guaranteed approval. A clear yes or no is the point.
Get a private mortgage reviewCost X-ray
A fast yes is not enough.
Speed matters. But a private mortgage is still a higher-cost tool. If the costs, payment plan, payout rules, renewal path, and exit are unclear, the fast answer can become the expensive answer.
rate + fees + conditions + payout + renewal + default + closing costs + exit
Rushed private moneyFees show up late, after you already feel committed.
Clear private mortgage plan Costs are discussed before signing.
Rushed private moneyPayout penalties make refinancing or selling harder.
Clear private mortgage plan Low payout fees where applicable.
Rushed private moneyA missed payment turns into escalating charges.
Clear private mortgage plan Administration-focused servicing, not punishment.
Rushed private moneyYou reach maturity with no clear next move.
Clear private mortgage plan Maturity and renewal options are discussed up front.
Rushed private moneyThe real deal is scattered across dense documents.
Clear private mortgage plan Material mortgage economics are visible in the commitment.
Rushed private moneyYou get funds, but no plan to leave private money.
Clear private mortgage plan The exit path is reviewed before funding.
The deadline may be real. The mortgage still has to make sense before it is signed.
Underwrite backward from maturity
You should know the next move before you commit.
If the structure does not fit, you should know early. If it does fit, the path from review to commitment should make the cost, conditions, and exit visible.
- 01
Intake
Tell us what is happening
Share the address, current mortgage, timeline, and why you need financing.
- 02
Assessment
Review what can work
FairLend reviews valuation, equity, documentation, payment capacity, mortgage position, and lender fit together.
- 03
Terms
Map the terms
Rate, fees, payout terms, renewal considerations, risks, and material conditions are discussed in plain language.
- 04
Exit route
Plan the way out
The maturity path is considered before funding: refinance, sale, renewal, stabilization, debt cleanup, or another realistic route.
- 05
Support
Stay supported after funding
If the structure makes sense, support can continue through closing, PAD payments, servicing, renewals, payouts, and borrower coordination.
Start with the free review. A commitment only follows a structure that can be explained.
The judgment desk
Talk to people who structure private mortgages every day.
FairLend treats private mortgage financing as accountable brokerage work, not a rushed search for a rate quote. The decision still needs human review, plain-language disclosure, and a maturity path you can actually use.
FairLend reviews the address, valuation, current mortgage, deadline, available equity, documentation, payment capacity, fee exposure, payout terms, renewal path, and exit together. The goal is a structure that solves the pressure without leaving you stuck at maturity.
- Borrower
- Documentation, payment capacity, timing
- Valuation
- Appraisal, available equity, market context
- Mortgage position
- Current balance, payout terms, renewal path
- Exit strategy
- Refinance, sale, renewal, debt cleanup
Southern Ontario mortgage context
Local mortgage judgment, explained in borrower language.
Understand the file, avoid weak structures, explain the tradeoffs, and make the exit visible before funding.
- Connected file review
Valuation, mortgage position, documentation, lender fit, and exit are reviewed together before a structure is recommended.
- Tradeoffs made visible
Cost, timing, maturity path, and funding conditions are explained before the file moves forward.
- Professional judgment
Technology helps organize the work, but experienced mortgage professionals make the judgment calls.
- Whole-file review
Need, address, valuation, current mortgage, documents, lender fit, and exit are reviewed as one file.
- Valuation and equity check
Valuation, mortgage position, available equity, payment capacity, and the exit route are tested against the requested amount and total costs.
- Closing and renewal support
Support can continue after funding through payment questions, renewals, payouts, coordination, and administration.
Question register
Ask the hard questions before taking private money.
Private mortgage financing should be understood before it is signed. Bring the address, deadline, current mortgage, and amount needed to the review.
A private mortgage is not risk-free and approval is not guaranteed. The point of the review is to make the tradeoffs visible before you decide.