HB Mortgage Centre

Private Mortgage Rates Ontario

Private Mortgage Rates in Ontario

Private mortgage rates are higher than bank rates, and the full cost includes fees as well as interest. What you pay depends on your equity, the property, the term, and the lender. As an FSRA-licensed brokerage, we arrange private mortgages with multiple lenders and show you the full cost before you commit.

Rates current as of [SET AT PUBLISH: single current-as-of date]. Source: [VERIFY SOURCE]. Subject to change and qualification.

Written by the HB Mortgage Centre team. Reviewed by Hardeep Batoo, Principal Broker (licence M13002408). HB Mortgage Centre is an FSRA-licensed brokerage (#13449). Last updated: June 23, 2026.

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FSRA Brokerage #13449Hardeep Batoo, Broker Licence #M13002408Full cost: rate plus feesNo guaranteed rate

Rate context

What private mortgage rates reflect

Private rates are higher than bank rates for a reason: they price in more risk and a shorter term. The main things that move a private rate are your equity and loan-to-value, the property type and condition, the term, and the lender. Because these vary so much from file to file, a single "rate from X%" number rarely tells you what you would actually pay.
We do not post specific private rate numbers on this page unless they can be shown with a single current-as-of date and a named source. For current private mortgage pricing for your property and file, contact us and we will price it.

Your rate

What moves a private rate

Because every file is different, these are the main factors a lender weighs.

01

Your equity and loan-to-value.

02

The property type and its condition.

03

The term.

04

The lender and its current pricing.

Because these vary so much from file to file, the headline rate you see advertised is rarely the rate you would actually pay.

Full cost

Rates plus fees: the full cost

With a private mortgage, the interest rate is only part of the cost. There are usually fees too, which can include a lender fee and a broker fee, plus legal and appraisal costs. Where borrower-paid lender or broker fees apply, we disclose them to you in writing before you commit.

See private mortgage and broker fees for how fees work. →

The point is simple. Judge a private mortgage on the total cost, rate plus fees, against the problem it solves and the exit it sets up. We do not promise a specific rate or cost; figures depend on your property, file, and the lender, and are subject to change and qualification. FSRA Brokerage #13449.

Full cost

  • Interest rateHigher than bank rates; priced to your property and file
  • Lender feeMay apply; disclosed in writing before you commit
  • Broker feeWhere applicable; disclosed in writing before you commit
  • Legal costsYour lawyer and the lender's lawyer
  • AppraisalUsually required by the lender

How a broker helps

How a broker helps keep the cost reasonable

Our job is to match your file to a lender whose terms fit, and to structure the mortgage around a realistic exit so it is doing a defined job. We cannot promise a particular rate, because it depends on your property and file, but matching the right lender is exactly what we do.

See how private mortgages work for the full picture, including the exit strategy.

The lenders we work with

FAQ

Common questions about private mortgage rates

What are private mortgage rates in Ontario right now?+
They are higher than bank rates and depend on your equity, the property, the term, and the lender. We show context dated {LAST_UPDATED} from [VERIFY SOURCE].
Why are private mortgage rates higher than bank rates?+
They price in more risk and a shorter term, and the lender focuses on the property and equity rather than standard income and credit.
What determines my private mortgage rate?+
Your equity and loan-to-value, the property type and condition, the term, and the lender, all subject to assessment.
What is the full cost of a private mortgage?+
The rate plus fees, which can include lender, broker, legal, and appraisal costs. We disclose any borrower-paid fees in writing. See the fees page.
Can a broker reduce my private mortgage cost?+
By matching the right lender and structuring the file, sometimes. We do not promise a specific rate, because it depends on your situation and the market.

Get a private mortgage quote

The honest way to know your cost is to price it to your property and file. Let us do that and lay out the full cost, rate plus fees, before you decide.
ApplyCall (647) 542-6100

We do not promise a specific rate or cost. Private mortgage pricing depends on your property, file, and the lender, and is subject to change and qualification. FSRA Brokerage #13449.

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

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Mortgage approvals, rates, terms, products, fees, and available lender options are subject to lender approval, borrower qualification, property review, market conditions, documentation, title review, and applicable laws. O.A.C. E.&O.E. HB Mortgage Centre is an FSRA-licensed Ontario mortgage brokerage, FSRA Brokerage #13449. Each Mortgage Centre is independently owned and operated. This website provides general information only and does not provide legal, tax, financial planning, estate planning, investment, accounting, or benefits advice. For legal matters, speak with an Ontario lawyer. For tax, estate, benefit, investment, or accounting questions, speak with a qualified advisor before making a decision.

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