Private Mortgages

Close your real estate transaction with confidence. Available for virtual and in-person closing, we bring legal expertise to you in the most convenient and affordable way.

What Are Private Mortgage Lenders?

Private mortgage lenders are private corporations and individuals that lend out their own money. They are typically shorter and come with a higher interest rate and fees than those offered by traditional mortgage lenders. Axess Law finalizes private mortgage agreements. While we cannot advise you on applying for a private mortgage, we can register the mortgage against the property for you.

How It Works


Request Quote

Click on ‘Get Started’ button to receive a quote from us. If you decide to proceed, our customer care team will reach out to you within minutes to discuss the next steps.


Upload Files

You will receive a secure intake link in your inbox to submit your closing documents. After receiving your documents, we will work with the lender to prepare for closing while keeping you informed at all times.


Sign Agreement

Once your closing documents are ready, we will book an appointment to review and sign the documents with you. Depending upon your convenience and location, you can meet your lawyer in person or virtually. 

Documents We Need

Approved for a private mortgage? Axess Law prepares the legal documents required to register a private lender against title to your home, land or commercial property. We process your paperwork quickly and for less than traditional lenders would charge.
  • showing mortgage balances
  • expiration dates
  • per diems (daily interest rates)

Why Should I Get a Private Mortgage?

  • To pay off a car loan or credit line by refinancing your home.
  • To get short-term loans for vacations or renovations.
  • To finance a business or job training.
  • To buy income properties or make unconventional investments.
  • If you are rejected because you are self-employed or your income comes from bonuses or tips.
  • To sell your home, instead of letting the bank foreclose because you can’t make the mortgage payments.
  • If your credit score is low.

Do I Qualify for a Private Mortgage?

You may, even if you have bad credit or no credit score at all. First-time buyers, families who want fewer restrictions on their borrowing, or couples who need an emergency loan for unexpected expenses may all qualify for private mortgages. All you usually need is 25% or more equity in a home or 35% in a commercial property. Equity requirements for private mortgages are lower than for conventional lenders like banks or credit unions, making borrowing easier in almost every circumstance. That’s because your loan is based solely on the loan to value ratio (LTV) of your home or commercial property, not on your income or other assets. Your LTV is what the proceeds of a property sale would be after mortgages and credit lines are discharged. For example, if your condo is worth $575,000 and you owe $450,000, your available equity is $125,000. Mortgage brokers can connect you to a private lender or you can search the Internet to find lenders near you.

When to Get a Private Mortgage

If mortgage stress tests are getting you down, a private mortgage could be for you. Consider a private mortgage when:

Your credit score needs improving
You need quick access to cash
You want to buy but your home is slow to sell
You want to make upgrades without refinancing or a credit line

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Convenient Appointments

Make an appointment by calling +1.877.402.4207 or fill out our online booking form. Axess Law gives you the choice of booking an online or in-person appointment. Our lawyers are available 7 days a week, at times convenient for you. We can meet in person, by phone, email, or via a remote video call. In addition to these, there are 5 Axess Law offices located across the Greater Toronto Area – all with onsite parking or easily accessible by public transit.

Some FAQs

When you apply for a private mortgage, you expect to pay more. Interest rates and fees are higher and loan terms may be shorter.

Private lenders are the last resort if conventional mortgage loans or consumer credit are unavailable. Qualifying and funding are quicker, usually in days to weeks. Private lenders can lend more freely because they aren’t federally regulated like banks and credit unions. That means you don’t have safeguards like somewhere to complain if you disagree with borrowing terms, but you also aren’t restricted by lending rules and regulations.
Broker fees or charges to set up a private mortgage average 1% to 3% of the loan value. Your fees can be added to your loan amount.

Since private lenders value investment returns, late payments or NSF’s may trigger other fees or penalties. If you default and the lender forecloses, you can lose your home.
Payments in a private mortgage may be interested only, with no principal paydown.

Interest rates are high, ranging from 6% to 18%. But your rate may go down if you make payments on time.

Broker fees or charges to set up a private mortgage average 1% to 3% of the loan value. Your fees can be added to your loan amount. Since private lenders value investment returns, late payments, or NSF’s may trigger other fees or penalties. If you default and the lender forecloses, you can lose your home.
In Ontario, you can qualify for mortgage loans for commercial properties, warehouses, land, cottages or rural homes, prefab or modular homes, mobile homes, foreclosures, or homes damaged by flood or fire.

Axess Law attorneys help finalize private mortgage agreements. We will set a date for you to come into one of our open daily locations to sign your closing documents or we can send someone to your home or office to finalize mortgage documents for any real estate transaction. Our Greater Toronto Area mortgage attorneys answer any questions you have about private mortgages so you can take the next steps with confidence and peace of mind. We do title searches and check for zoning restrictions, property or construction liens, and outstanding taxes.

Most Ontario mortgage brokers deal with banks and credit unions. You may have to look on Google to find private lenders who arrange GTA mortgages. Check the Internet for:

  • Individual Lenders: Private investors who lend their own money to get higher returns than GICs or bonds can deliver. Friends or family can be reliable sources for lower-interest loans.
  • Mortgage Investment Corporations: Investment groups pool their money to fund individual mortgages.
  • Syndicated Mortgage Corporations: Mortgage syndicates that invest in commercial projects like condos or rental units. They may be interested in you if your unit is in a project they are funding.

Axess Law’s licensed real estate lawyers recommend checking Better Business Bureau (BBB) online reviews before choosing any private lender.