Private Mortgage Rates Comparison | LendingSchool Canada

Private Mortgage Rates Overview

View current rates and terms for different loan types. Select your province for accurate information.

Province

First Mortgages

Primary financing for your property purchase or refinance.

5.95% - 8.99%

Lender Fee0.75% - 4%

Broker Fee0.75% - 4%

Term1 - 3 years

Second Mortgages

Access equity without breaking your first mortgage.

8.00% - 11.99%

Lender Fee2% - 3%

Broker Fee2% - 3%

Term1 - 3 years

Construction Loans

Financing for building or major renovations.

9.99% - 14.50%

Lender Fee1.75% - 3%

Broker Fee1% - 3%

Term3 years

Min Down Payment20% - 30%

Bridge Loans

Short-term financing to bridge the gap between buying and selling.

Prime + 2% to + 5%

Lender Fee$400 - $500

Broker Fee1% - 2%

Term3 - 6 months

Disclaimer: Your actual rates depend on your credit score, income, debt ratio, property value, and current market conditions. Rates are illustrative only—NOT an offer or commitment. Verify with a licensed professional.

Why are private rates higher?

Private lenders take on higher risks than banks. They focus on the property's equity (LTV) rather than your income documentation. The higher rate compensates the investor for this increased risk and lack of insurance (CMHC).