Private Mortgage
Flexible Private Mortgage Solutions in Toronto
Some conditions may apply. Rates may vary from Province to Province. Rates subject to change without notice. Posted rates may be high ratio and/or quick close which can differ from conventional rates. *O.A.C. & E.O
Esi Ghassemi - Mortgage Broker at Centum Financial Services Limited Partnership - Brokerage # 13054
If you’re facing difficulty getting approved by traditional lenders, a private mortgage could be the ideal solution. At ESI Mortgage, we work with a trusted network of private mortgage lenders in Toronto to help you access fast, flexible funding — even if you have bruised credit, irregular income, or unique property needs.
Whether you’re looking for a private mortgage loan to purchase a home, refinance, consolidate debt, or fund renovations, we’re here to guide you every step of the way.
What is a Private Mortgage?
A private mortgage is a short- to medium-term loan offered by individual or institutional private lenders, instead of traditional banks or credit unions. These types of loans are typically secured by real estate and are ideal for borrowers who:
- Have poor or limited credit history
- Are self-employed or have non-traditional income
- Need financing quickly
- Own unconventional or non-conforming properties
- Are in need of a bridge loan or short-term refinancing
Who can benefit from a private mortgage?
A private mortgage is a suitable option in the following situations:
You are purchasing a non-traditional property that traditional financial institutions do not approve
You need quick financing and can’t wait for lengthy approval processes
Your bad credit history means you are being turned down by conventional lenders
You require a short term loan (Typically 1-2 years)
You can not show sufficient proof of income
Types Of private mortgage lenders:
Individual
Refers to a lender that is an individual investing their own personal funds toward private lending.
Syndicate
Refers to a group of investors who invest their own personal money as a group into a mortgage.
Mortgage investment corporation (MIC)
Refers to a group of investors pulling together their personal funds into several different mortgages simultaneously.
It is important to mention that all of the three types of private lenders require the borrowers to meet certain criteria to qualify for a private mortgage loan.
Our Partners
Why Choose ESI Mortgage?
We don’t just match you with any lender — we connect you with the right private lender based on your goals, your property, and your timeline.
Transparent & Efficient Process
From pre-approval to closing, I provide clear guidance at every step. I aim to simplify the mortgage journey and empower you with the right financial decisions.
Client-First Approach
I work for you, not the banks. I prioritize securing the most competitive mortgage rates and terms while ensuring a smooth and stress-free process.
Personalized Mortgage Solutions
No two financial situations are the same. I focus on crafting customized mortgage strategies to align with your short-term and long-term goals.
Access to a Wide Network of Lenders
From major banks and credit unions to private lenders, I have the connections and expertise to find the best mortgage solutions tailored to your financial needs.
Industry Expertise & Experience
With over nine years in the mortgage industry, I bring a wealth of knowledge and insights to help clients navigate the complexities of home financing.
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Frequently Asked Questions
What Is The Difference Between A First Mortgage And Second Mortgage?
A first mortgage is the first loan taken out on a property. If a default happens on a mortgage payment, the first lender has the first right on the property to recover the outstanding payment. A second mortgage is a loan taken out on a property after the first mortgage. Typically, the interest rate on a second mortgage is higher than the charge on the first. The second mortgage is used to finance up to 95% of the purchase price or the appraised value of the home. Even though it comes with a higher interest rate it is still more cost effective than the insurance provided by Canada Mortgage and Housing Corporation or Genworth insurance when borrowing 80-95% of the value of the home.
What Is a First Mortgage?
A first mortgage is referred to as a primary loan on a property. This loan has priority over all other loans and claims on the property since it is the primary loan that pays for the property. The first mortgage is also referred to as the first lien since it is the original mortgage taken by a borrower on any one property. If the property has been refinanced then the refinanced mortgage is assumed as the first mortgage.
What is the purpose of a first mortgage?
The main purpose of a first mortgage is to buy a home. If there was no first mortgage, people would have to buy any house they want with cash because there would be no mortgage loans. Mortgage loans make it possible for the majority of Canadians to own a home. In Ontario people can put down as low as 5 % of the value of a home as down payment in order to qualify for a mortgage loan when buying a home.
What is a second mortgage?
A second mortgage is a second rank mortgage while the original mortgage is still in place. In the event of a mortgage default, the original mortgage receives a total pay off from the liquidation of the property. Since the first mortgage takes priority in fulfilling the outstanding amount of the loan first, the second mortgage comes with a higher interest rate compared to the first mortgage.
What is the purpose of a second mortgage?
Second mortgages can be used for a variety of purposes such as home renovations, starting a new business, university/college expenses and any big purchase. Since it is a home loan, the installments are added to your current mortgage loan and are much more affordable than personal unsecured loans. This is because the interest rates are much lower. Another advantage of a second mortgage is that the monthly interest payment is also tax deductible just like a first mortgage.