How fast can a private mortgage close in Canada?
Updated: February 28, 2026CanadaFAQPrivate lending
Quick Summary
Many private mortgages can close in about 3 to 10 business days, but timing depends on appraisal speed, lender conditions, and legal readiness.
Private lending can move faster than a bank because decisions are usually driven by the property and the exit plan.
What controls the timeline
- Appraisal scheduling and property complexity.
- How quickly you provide documents and satisfy conditions.
- Title issues (arrears, liens, missing payouts) and how fast they can be cleared.
- Lawyer availability and how complete the closing package is.
How to speed it up
- Provide tax bills, payout statements, and ID early.
- Be clear about the purpose of funds and the Exit Strategy.
- Confirm who is ordering the appraisal and the expected turnaround.
If you have a hard deadline, ask your broker for a written closing checklist and a realistic timeline before you sign.