Private Mortgage - Mississauga

Private Mortgage in Mississauga - Equity-Based Approval from a Local Brokerage

HB Mortgage Centre is based in Mississauga. We arrange private mortgages for Mississauga homeowners with credit challenges, declined applications, or urgent timelines - approval based primarily on property equity, not credit score. FSRA #13449.

Apply Now Call (647) 542-6100

FSRA Brokerage #13449Â·Hardeep Batoo, Broker Licence #M13002408Â·Mississauga-basedÂ·All credit situations reviewed

The basics

Private mortgages in Mississauga - how they work

A private mortgage in Mississauga is a real estate-secured loan from a private lender or mortgage investment corporation rather than a bank. Approval is based primarily on your property's equity and loan-to-value ratio, not your credit score or income documentation.

Mississauga has one of the strongest residential property markets in Ontario. Strong local property values mean that even borrowers with credit challenges or income documentation issues may have enough equity to qualify for a private mortgage. Most private lenders consider up to 75â€“80% combined LTV on established residential properties.

Your usable equity depends on your actual property value, mortgage balance, property type, title, documentation, and lender review - not on regional averages. Urban residential properties in established Mississauga neighbourhoods generally attract the broadest range of private lenders.

Who it's for

Who uses private mortgages in Mississauga

Mississauga homeowners who contact us about private mortgages typically fall into one of these situations.

Bank or B lender declined a mortgage application or renewal

Credit issues, consumer proposal, or past bankruptcy limits conventional options

Self-employed or incorporated income doesn't document the way a bank needs it to

Closing deadline approaching - conventional financing cannot move fast enough

Power of sale proceedings started and homeowner needs to pay out the lender

Separation or spousal buyout requires equity access conventional lending can't provide

Condo or property type that banks won't finance but private lenders will consider

Short-term bridge while rebuilding credit toward B lender qualification

Mississauga's residential neighbourhoods close to transit, employment, and amenities generally attract the broadest lender interest. Property type and location within Mississauga still matter.

Rates & costs

What a private mortgage in Mississauga costs

Private mortgage rates are higher than bank rates. The total cost includes the rate, lender fee, broker fee (where applicable), legal fees, and appraisal.

Rates are indicative as of May 2026. Rates and fees depend on your LTV, property type, credit situation, and lender. All costs disclosed in writing before commitment. O.A.C. E.&O.E.

What it costs

Private first mortgage rate6â€“8% indicative range (May 2026) - varies by LTV, property, exit strategy
Private second mortgage rate9â€“12% indicative range - reflects second-position risk
Lender feeTypically 1â€“3% of the loan amount - charged by the private lender
Broker feeWhere applicable - disclosed in writing before commitment (FSRA requirement)
Legal feesBoth your lawyer and lender's lawyer - typically $1,500â€“$3,500 combined
AppraisalRequired by most private lenders - typically $400â€“$700

How it works

How a Mississauga private mortgage is arranged

Property and equity review

We start with your property value and mortgage balance. The LTV is the primary qualification - we establish this number first before assessing which lenders are appropriate.

Credit and file assessment

We review your credit situation. This determines which private lenders are most suitable and how to present the file for the best available rate.

Lender matching

We identify private lenders whose criteria fit your specific combination of property type, LTV, and credit situation. Not all private lenders accept all property types in all Mississauga neighbourhoods.

Commitment and disclosure

Before you commit to anything, you receive written disclosure of the rate, all fees, and total cost of borrowing - as required by FSRA.

Legal closing and funding

Your lawyer and the lender's lawyer handle registration. Straightforward files with complete documentation can move quickly.

Mississauga property context

Strong Mississauga property values create private mortgage options where banks decline

Mississauga's established residential property market means private lenders are familiar with and comfortable lending against Mississauga properties. The same file that a bank declines can be approved by a private lender when the equity is sufficient. We tell you which category your file falls into before you incur any application costs.

Compare: private vs B lender →

Why a broker

Mississauga-based - local knowledge and private lender access

HB Mortgage Centre is based in Mississauga. Hardeep Batoo, FSRA Mortgage Broker Licence #M13002408, has arranged private mortgages for Mississauga homeowners across a range of situations. He knows the local market, the types of properties private lenders will and will not consider, and what makes a Mississauga private mortgage file more or less attractive.

Private lenders active in Mississauga don't advertise publicly and don't take retail applications. Access is through established broker relationships - which means the options available through a broker are different from what you can find on your own.

If a private mortgage does not make sense for your situation, we will tell you that clearly and explain what alternatives might work.

Our lender network →

FAQ

Frequently Asked Questions - Private Mortgage Mississauga

Can I get a private mortgage on a Mississauga condo?+

Condominiums can qualify for private mortgage financing, but lender criteria vary. Some private lenders avoid high-rise condos in certain buildings or markets. Location, building age, square footage, and current marketability all affect lender appetite. Ground-floor units, townhomes, and detached properties in Mississauga generally attract more private lenders.

Do private mortgage lenders in Mississauga require an appraisal?+

Most private lenders require a current property appraisal from an approved appraiser. The appraisal establishes the property value for loan-to-value calculation. Appraisal fees are part of the total cost.

How is a private mortgage different from going to a B lender in Mississauga?+

B lenders still require income documentation, credit review, and stress test qualification, though they are more flexible than major banks. Private lenders primarily assess property equity and exit strategy. Private mortgage rates and fees are generally higher than B lender rates. If you qualify for a B lender, that is almost always the better option on cost.

What Mississauga neighbourhoods do private lenders prefer?+

Private lenders generally favour properties in established, liquid markets. Mississauga's residential neighbourhoods, particularly areas close to transit, employment, and amenities, generally attract broader lender interest. Rural or agricultural properties at the periphery may face more limited lender options.

How do I start the private mortgage process in Mississauga?+

Contact HB Mortgage Centre by phone or through the application form. We ask about your property, existing mortgage balance, income, credit situation, and what you are trying to accomplish. We review the file and explain what options may be available before you decide anything. There is no obligation.

Get a no-obligation private mortgage assessment in Mississauga

Call 647-542-6100 or apply online. We review your property equity, LTV, and credit - and explain what private mortgage options may be available before you commit to anything.

Apply Call (647) 542-6100

Qualification subject to lender approval, equity assessment, property appraisal, and market conditions. Private mortgages are generally higher-cost, short-term financing options. All fees disclosed in writing before commitment. O.A.C. E.&O.E.

FSRA Brokerage #13449 Â· Hardeep Batoo, Broker Licence #M13002408 Â· Ontario-wide

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