Private mortgage rates in Canada
Starting rates published by 48 private lenders and MICs, as of October 2026. These are “rates from”; the rate you get depends on the property, the loan and your file.
Rates by province
| Province | Lenders | 1st from (median) | 2nd from (median) | Max LTV (median) |
|---|---|---|---|---|
| Alberta | 19 | 6.99% | 8.99% | 75.00% |
| British Columbia | 22 | 6.99% | 8.99% | 75.00% |
| Manitoba | 8 | 9.50% | 10.50% | 75.00% |
| Ontario | 41 | 7.69% | 9.50% | 75.00% |
| Quebec | 3 | 7.69% | 9.99% | 75.00% |
| Saskatchewan | 4 | 8.35% | 10.62% | 75.00% |
Every lender's rates
| Lender | 1st mortgage from ↓ | 2nd mortgage from | Lender fee | Max LTV (1st) | Loan size | Provinces |
|---|---|---|---|---|---|---|
| Brookstreet Mortgage Investment Corporation | 4.49% | 8.99% - 12.99% | 1st 1% - 2% & 2nd 3% - 5% | 85% | $20k - $1.5m | Ontario |
| Kokanee Mortgage | 4.99% - 8.99% | 8.50% - 12% | 0% - 5% | 75% | $25k - $400k | 6 provinces |
| Lanyard Financial Corporation | 5.50% Res. / 5.85% Comm. | 2% Split Res. / 1.5%-2.25% Comm | 65% Res / 75% Comm | $500k-$5m Res / $1m-$75m Comm | Alberta, British Columbia, Ontario | |
| Antrim Investments | 5.95% | 8.49% | 1st flat 1% - 2nd 2% | 75% | $50k - $3m | Alberta, British Columbia, Ontario |
| Pioneer West | 5.95% | 8.95% | 1% - 4% | 65% | Min $10k | Alberta, British Columbia |
| ThreePoint Capital | 5.95% | 8.45% | 0% - 3% | 75% | $50k - $1.75m ($3m multiplex) | Alberta, British Columbia, Ontario |
| Advanced Capital Corporation | 5.99% | 7.99% | 0% - 3% | 75% | Min - $50k 1st & $25k 2nd | Ontario |
| Elle Mortgage Corp. | 5.99% - 7.99% | 8.99% - 11.99% | 1st 2% - 4% / 2nd 2% - 5% | 80% | $10k - $5m | Ontario |
| Ginkgo Mortgage Investment Corporation | 5.99% | 9.99% | 1st from 1% & 2nd from 2% | 65% | 1st $100k/$900k - 2nd $15k/$250k | British Columbia, Manitoba, Ontario |
| Oppono Lending Company | 5.99% | 8.54% | 1.99% - 3.24% | 75% | $25k - $2m | Ontario |
| Sequence Capital | 5.99% | 8.49% | 1% - 2% - $2k min fee | 75% | $25k - No Max | Alberta, British Columbia, Ontario |
| Falcon Ridge MGMT | 6.49% | 8.99% | 1.5% - 3% | 75% | Ontario | |
| LendMax | 6.59% | 8.99% | 1% - 3% | 80% | $500k max | Alberta, British Columbia, Ontario |
| VWR Capital Corp. | 6.95% | 9.25% | $750 - 1% | 75% | $50k - $2.5m | 5 provinces |
| Canadian Mortgages Inc. | 6.99% | 9.99% | 1st 2.5% & 2nd 3% | 80% | $50k - $1m+ | 8 provinces |
| Capital Direct | 6.99% | 8.99% | 1% - 4.5% | 70% | $10k - $1.5m | Alberta, British Columbia, Ontario |
| Gentai Capital | 6.99% | 8.50% | 1% - 2% | 75% | $100k - $5m | Alberta, British Columbia, Ontario |
| Resco MIC | 6.99% | 8.99% | 1% - 3% | 80% | $20k - $1m | Ontario |
| StoneRidge Lending | 6.99% | 8.99% | 1% - 2% | 80% | $30k - No Max | Ontario |
| Canguard Mortgage Investment Corporation | 7.45% | 9.85% | 1% - 2% | 75% | $150k - $3m | British Columbia |
| Breakwater Investments | 7.50% | 10% | 1.5% - 2% | 65% | $250k - $5m | Ontario |
| Clifton Blake Group | 7.50% | 9.50% | 2% | 80% | $1m - $10m | Ontario |
| WestCan Mortgage Solutions | 7.64% | 8.99% | 1.55%(min $900)+ $270 app. fee | 75% | 1st Max $400k/2nd Max $250k (exceptions) | Alberta, British Columbia |
| Secure Capital MIC | 7.69% - 9.99% | 9.99% - 13.99% | 1.5% - 3% (Min. $2k) | 75% | $25k - $2.5m | Ontario, Quebec |
| AAREA Private Mortgages | 7.99% | 8.99% | 1-2% - $3,500 min. | 75% | $100k - $5m | British Columbia, Ontario |
| Equity Lenders Mortgage | 7.99% | 9.99% | 2% - 4% | 75% | No Min - $1m | Ontario |
| RiverRock MIC | 7.99% | 11.49% | 2% - 3% | 80% | $25k - $2m | Ontario |
| ROI Group | 7.99% | 2% | 65% | $500k - $15m | Ontario | |
| SDC Capital Corp. | 7.99% | 9.99% | 1.0% - 3% | 70% | $30k - $650k | Ontario |
| Vault Mortgage | 7.99% - 10.25% | 1.25% - 1.99% | 75% | $100k - $2.5m | British Columbia, Ontario | |
| Verico The Mortgage Leaders | 8.25% | 12.99% | 2 - 4% | 70% | $25k - $500k | Ontario |
| Atrium Mortgage Investment Corporation | 8.49% | 8.99% | 1% - 2% | 80% | $75k - No Max | Ontario |
| King Capital MIC | 8.49% | 9.49% | 1.50% - 2.50% | 80% | $10k min | Ontario |
| Domain Funding | From 8.50% | From 12.50% | Starting at 1.5% | 85% | $1m - $20m | Alberta, British Columbia |
| New Haven Mortgage Corporation | From 8.74% | From 10.99% | 1.00% - 3.24% | 75% | $25k - $1m | Ontario |
| Alta West Capital | 8.99% | 10.49% | 1st 2.5-3% & 2nd 3.5% | 75% | $30k - $2m | Alberta, British Columbia, Ontario |
| Lendstrait | 8.99% | 9.99% | 2.50% - 2.75% | 70% | Ontario | |
| Nest Capital MIC | 8.99% | 11.99% | 2% - 3% | 75% | Up to $400k | Ontario |
| Mercury Mortgages | 9.25% - 10.49% | 10.49% - 13.99% | 2% | 75% | $15k - $3m | Alberta, Manitoba, Ontario |
| First Canadian Mortgage | 9.50% | 11.50% | 2% | 75% | $15k - $5m | Ontario |
| Foremost Financial | 9.50% | 9.50% | 1% - 2% | 70% | $500k - $20m | Ontario |
| Fisgard Asset Management Corporation | From 9.74% | From 11.99 | 0% - 1% | 75% | $50k | 5 provinces |
| Bayfield Mortgage Professionals | 9.75% | 10.5% | 2% - 3% (negotiable) | 75% | $25k - $1.5m | Alberta, British Columbia, Manitoba |
| Advantage Mortgage Centre Inc. | 9.99 | 12.99 | 2-4% | 80% | $25,000 and up | Manitoba |
| Hosper Mortgage | 9.99% | 12.99% | 1st - 2% & 2nd - 3% | 75% | 1st Max $1m - 2nd Max $600k | Ontario |
| Castleton Mortgages | 10.99% | 11.99% | 0% - 2% | 70% | $50k - $3m | Ontario, Quebec |
| Mountain Investment Corp. | 10.99% - 12.99% | 11.99% - 13.99% | 1st 3-5% / 2nd 3-6% | 75% | $15k - $400k | 5 provinces |
| K5 Mortgage Corp. | 7.99% | Min $2500 | No Min - $200k | Alberta, British Columbia |
Each lender's lowest published starting rate. Medians leave out lenders that publish no rate. Indicative only, not an offer of credit.
Rate questions, answered
What are private mortgage rates in Canada right now?
Across 47 private lenders and MICs listed here, first mortgage rates start from 4.49%, with a typical (median) starting rate of 7.69%. Second mortgages start from a median of 9.50%.
Why are private mortgage rates higher than bank rates?
Private lenders take on files banks decline, such as bruised credit, income that is hard to prove, unusual properties or tight closing dates. They lend for short terms and price that risk into the rate, and usually charge a lender fee on top.
How much can I borrow from a private lender?
Most private lenders cap the loan-to-value ratio. The typical maximum here is 75.00% for a first mortgage, so you usually need about a quarter of the property's value in equity.
Are these rates guaranteed?
No. They are the starting rates lenders publish. Your rate depends on the property, its location, the loan-to-value, your credit and how you plan to repay. Always get a written commitment, and a mortgage broker can compare several lenders for you.